This specific segment will focus on areas of inventory valuation, the types of physical inventory methods and inventory fraud.
This course is one of the courses dedicated to our Controllership series. This series of courses is dedicated to exploring the traditional controller role and stepping out of the box to identify areas where the controller can continue to add strategic value to their organizations. Within this segment of our controllership series, we will continue our discussion on inventory from segment one. This specific segment will focus on areas of inventory valuation, the types of physical inventory methods and inventory fraud. All areas which a critical for the controller to have a strong comprehension of and also participate in the development of policies and procedures.
Other courses in this series will include: • The controller’s evolving role • The controller’s role in strategic and annual planning • The controller’s role in cash and investing • The controller’s role in inventory – Part 1 – Inventory basics and the controller’s strategic role • The controller’s role in the sales process • Understanding overhead, distribution and direct and indirect expenses • The controller’s role in cash and investment • The controller’s role in operational accounting • The close the books process • The controller’s role in performance measurement, KPI’s and trends
Field of Study: Accounting
Lynn Fountain has over 45 years of experience spanning public accounting, corporate accounting and consulting. 24 years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. In 2011, as the Chief Audit Executive for an international construction/ engineering firm, she was involved in the active investigation of a joint venture fraud. The investigation included work with the FBI and ultimately led to indictment of the perpetrators and recovery of $13M. Ms. Fountain is currently engaged in her own training and consulting business and is a regular trainer for the AICPA. Ms. Fountain is the author of three separate technical books. “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations” was published by the Institute of Internal Auditors Research Foundation. -“Leading The Internal Audit Function” and -“Ethics and The Internal Auditor Political Dilemma” were published by Taylor & Francis In addition Ms. Fountain was a contributing author to the certification program exam for the National Association of Accountants. She also has certificate programs on various on-line platforms. Ms. Fountain has performed as an adjunct instructor for the School of Business for Grantham University and developed the first internal audit curriculum for the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate (non-active).
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