Standard Costing - Student edition
Variance analysis and reconciliation statements
Ratings 4.65 / 5.00
What You Will Learn!
- Standard costing
Description
This course comprises 4 1/2 hours of teaching on Standard cost variances, the reconciliation of statements and ledger accounts.
There are 6 videos in total of approximately 45 minutes each.
Video 1 - Standard costing overview. This video will teach you the fundamentals of Standard costing in a logical manner that will give you understanding and context to the subject.
Video 2 - Material variances. Here you will learn how to calculate all the relevant material variances and how to reconcile Budget cost to Actual cost.
Video 3 - Labour and Variable cost variances. As per Material - variances plus reconciliation.
Video 4 - Fixed cost variances. You will learn the difference between variable and absorption costing systems, the variances for each one and the reconciliation of Budget to Actual.
Video 5 - Sales variances are analysed by value and by profit plus the reconciliation of Budget profit to Standard profit to Actual profit
Video 6 - Tutorial questions. In this session I will teach you how to read a question and how to answer a Standard costing question.
Who Should Attend!
- Under-graduate as well as post-graduate students
