The cost of freight plays a significant role in the reported profitability of many businesses that deal in tangible goods. It may be added to the cost of inventory and fixed assets, or reported separately for lesser amounts, and may be billed through to customers - perhaps with a profit margin added to it. In the Accounting for Freight course, we explore all aspects of the accounting for freight, including the treatment of freight-in and freight-out, its presentation in the financial statements, applicable controls, and more.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify the different types of freight shipping arrangements.
Specify the accounting for freight-in and freight-out.
Recall how freight-in applies to the accounting for fixed assets.
Specify the rules for classifying freight billings to customers.
Major Topics
Types of Shipment
Accounting for Freight-In
Accounting for Freight-Out
Analysis of Freight-In Charges
Controls Over Freight
