Flexible Budgets, Standard Costs, & Variance Analysis

Description

Managerial & price accounting instruments

The course will introduce managerial accounting subjects that shall be used all through the course, contrasting managerial accounting to monetary accounting in order that we’re within the appropriate mindset as we transfer ahead.

We are going to focus on versatile budgets, contrasting versatile budgets with static or mounted budgets, demonstrating the advantages of versatile budgets and the way they can be utilized. We are going to work instance issues associated to versatile budgets and supply step-by-step educational movies to use the ideas.

The course will outline and analyze normal prices and value variance evaluation, giving an summary of price variance evaluation ideas that we’ll go into extra element on in later sections.

We are going to clarify gross sales variance evaluation, discussing when it may be used, and how one can calculate gross sales variances. We are going to present instance issues and step-by-step educational movies so we are able to apply what we be taught.

The course will cowl direct supplies variance evaluation, exhibiting what it’s, how one can use it, and how one can calculate direct supplies variance evaluation. We are going to exhibit the ideas listed utilizing educational movies and utilizing instance issues together with step-by-step educational movies to finish them.

We are going to focus on direct labor variance evaluation, demonstrating what it’s, and the way direct labor variance analyst is used. We are going to exhibit the ideas with educational movies and supply instance issues and step-by-step educational movies to finish them.

The course will focus on overhead variance evaluation. We are going to describe why it’s used and how one can calculate overhead variance evaluation. We are going to present demonstration displays and instance issues with step-by-step educational movies to assist full them.

We can even embody a complete drawback on overhead variance and a complete drawback on variance evaluation. The great issues will present preformatted Excel worksheets that we are able to fill out together with step-by-step educational movies. The Excel worksheets will usually have two or three tabs, one tab having the finished drawback, the second tab having a preformatted Excel worksheet to work by means of the issue in a step-by-step format with educational movies, and the third tab with a clean sheet that we are able to use to format our personal Excel worksheet.