Accounting for Freight (CPE Course)

CPE Credit: 1 hour

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $15

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Course Description
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.

Author: Steven Bragg

Course Number: AC1145

Learning Objectives

  • 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.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Latest Review Date: June 2024

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the 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: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.