Controller’s Role in Assets, Liabilities, and Equity

2 Credits: Accounting


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Controller’s Role in Assets, Liabilities, and Equity

Course Level
CPE Credits

2 Credits: Accounting

Course Description

The controller plays a unique role regarding inventory, fixed assets, accounts payable, and equity management systems. The skills required for each of these departments are disparate, but they have one thing in common: success in each area depends on accurate, detailed systems of record keeping. In Controller’s Role in Assets, Liabilities, and Equity, Steven Bragg breaks down each department, detailing the management strategies and techniques necessary to help you succeed. You’ll gain insight and systemic knowledge on inventory valuation, fixed asset controls, controls and processes to assist accounts payable, and accounting for various components of equity.

This course covers material also contained in The New Controller Guidebook.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Define a perpetual inventory system
  • Identify characteristics of the first in, first out method
  • Determine how the weighted average method is applied

Chapter 2

  • List a use for passive RFID tags
  • Specify a control that can be used to stop theft of fixed assets

Chapter 3

  • Describe what is meant by scrubbing accounts payable
  • List documents used in a three-way match

Chapter 4

  • Define par value
  • List an outcome of a company buying back stock
  • Define a scrip dividend
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Course Specifics

Course ID
Revision Date
September 14, 2022

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …