Free Online Accounting Course - Merchandising Transactions | Alison
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Accounting - Merchandising Transactions

Learn more about merchandising transactions in accounting such as gross margin percentage, sale of inventory, and more.

Accounting
Free Course
This free online accounting course teaches you about merchandising transactions. In this course you will study the ways in which the buying and selling of goods are accounted for in the merchandising sector. You will also study how managing the accounts and finance related to purchasing, trade and chain discount, transport costs, and invoice terms are critical as they are the major contributors to the gross profit, and more!

Description

Modules

Outcome

Certification

View course modules

Description

This course begins with an introduction to Merchandising Transactions. You will learn that they are transactions that deal with inventory and includes the purchase and sale of inventory. You will study the differences between the perpetual inventory system and periodic inventory system as well as look into the gross selling price which is the total amount of money the purchaser pays to the seller in consideration of the sale of goods.

You will then look into Returns and Allowances and learn that is a sales adjustments account representing merchandise returns from customers and deductions to the original selling price when the customer accepts defective products. You will also study the cost of goods sold which refers to the direct costs of producing the goods sold, the classified income statement which is an easy-to-read financial report showing revenues, expenses, and profits, and more!

This accounting course can give you a better insight into the management of stock and related cash flow for the wholesale and retail sectors. Upon the completion of this course, you will become more familiar with the process of recording journal entries for sales transactions involving merchandise as well as learn to determine and describe the cost of goods sold and the distinction between perpetual and periodic inventory procedures. Sign up for this course and gain better understanding of merchandising transactions today!

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Learning Outcomes

Having studied this course learners will be able to:


  • Record journal entries for sales transactions involving merchandise;
  • Determine and describe cost of goods sold and the distinction between perpetual and periodic inventory procedures;
  • Record journal entries for purchase transactions involving merchandise; - Describe the freight terms and record transportation costs;
  • Prepare a classified income statement;
  • Analyze and use the financial results - gross margin percentage;
  • Prepare a work sheet and closing entries for a merchandising company;

Certification

All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire an official Certificate, which is a great way to share your achievement with the world. Your Alison Certificate is:

Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certificates for completed Certificate courses:

Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping

All Certificates are available to purchase through the Alison Shop. For more information on purchasing Alison Certificates, please visit our FAQs. If you decide not to purchase your Alison Certificate, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certificate pricing, please visit our Pricing Page.

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