Transformer-like inverter models can represent a very good alternative to common switch-diode models for simulation, reducing convergence problems and/or calculation time. They may also provide easier insight into the converter operation and power loss effects, at least from the point of view of the applicants, aiding for design and teaching purposes. The paper shows how conduction and switching losses can be incorporated in the transformer-like inverter model in a simple and intuitive way, which requires very few parameters and allows for separate modeling of lossless behavior, conduction losses and the switching losses. Loss models are proposed in some versions differing for the accuracy and simulation easiness. In any case, the resulting inverter lossy model is very compact and can be implemented by just a pair of nonlinear controlled sources as basic building blocks, available in any circuit simulation program, as the free of charge and widely used PSpice student version.