This course on FOB Shipping Point and FOB Destination Accounting provides a comprehensive understanding of the accounting principles and concepts related to FOB shipping transactions. Over five days, participants will learn about the identification and division of costs in FOB shipping, the treatment of FOB accounts, and the accounting treatment of various non-FOB items.
Additionally, the course covers income treatment, valuation of closing inventories, provisioning for unfinished voyages, and accounting for FOB shipping consignments. Participants will also gain insights into performance measurement in the shipping business, including liquidity measurement ratios, profitability ratios, and debt and equity considerations.
Lastly, the course addresses key accounting and reporting issues specific to the shipping industry, such as fair valuation assessment of vessels, impairment assessment, and joint operations arrangements under IFRS 11.
By the end of this course, participants will:
- Understand the general accounting principles and concepts related to FOB shipping.
- Identify and divide costs in FOB shipping transactions
- Differentiate between FOB shipping point and FOB destination
- Prepare FOB accounts and handle FOB freight prepayments
- Apply accounting treatment to non-FOB items and calculate income from freight, primage, and passage money
- Value closing inventories and provision for unfinished voyages
- Record accounting entries for FOB consignments in the books of both consignors and consignees
- Perform physical inventory counts and account for the sale of inventory by consignees
- Measure performance in the shipping business using liquidity measurement ratios, profitability ratios, and debt and equity considerations
- Address accounting and reporting issues specific to the shipping industry, such as fair valuation assessment of vessels, impairment assessment, and joint operations arrangements under IFRS 11
FOB Shipping Point and FOB destination accounting training course designed for:
- Accounting professionals, finance managers, shipping industry professionals, and individuals seeking to enhance their knowledge and skills in FOB shipping point and destination accounting.
- It also benefits auditors, consultants, and professionals involved in financial reporting and analysis within the shipping industry.
Our courses in London take place at the following locations :
Once you register for this course, we will subsequently send the invoice and course information, including location, trainer, and other logistics.
Pay Attention, Please! The course location is subject to availability; the course time will be precise one week before the course start date! We may change the course location if there is no availability, and we will let you know about the location change once it happens.