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AS262: Analyzing Inventory in IDEA

SKU: ws-analyzinginventory-Dec2024 Category: Tag:
Dec 12, 2024 | 10:00 AM - 02:00 PM CST | Live Online | 4 CPE
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Analyzing Inventory in IDEA® is a half-day, instructor-led training that walks students through a case study where they are hired at Bright IDEAs, Inc. to perform an Inventory Review. The auditor evaluates business and audit risks associated with Inventory and then reviews potential tests that can be used to address those risks. This case study includes audit testing to agree total inventory values, check adequacy and accuracy of inventory, assess the re-ordering system, and analyze profit margins and pricing. We will also utilize a portion of the IDEA Data Analysis Workbook for your reference.

**Please note participants are required to be actively engaged in the class and complete coursework to qualify for CPE credit.**

Course Level Intermediate
Length 4 Hours (4 CPE)
Field of Study Auditing
Delivery Method Group Internet-Based
Prerequisites CI101: IDEA Data Analysis Level 1
After completing this training, participants will be able to:
  • Import ASCII delimited files using field statistics and control totals to verify accuracy of import
  • Use equations to extract obsolete inventory items and negative quantities
  • Calculate usage ratios and months of inventory
  • Stratify inventory into bands
  • Calculate total provisions counts and value by location
  • Test accuracy of the reordering system
  • Analyze selling prices and inventory movements
  • Analyze profit margins
Caseware International, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of the continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:     For concerns regarding course offerings, certifications or complaints, please contact: [email protected]

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