Flexible Budgets, Standard Costs, & Variance Analysis

Managerial & cost accounting tools - Variance analysis, standard costs, & flexible budgets for better business decisions

4.55 (233 reviews)
Udemy
platform
English
language
Management
category
53,110
students
8 hours
content
Jun 2019
last update
$99.99
regular price

What you will learn

Managerial & cost accounting tools

Describe general managerial accounting topics

Prepare and explain the benefits of a flexible budget

Define and describe standard costs and cost variance analysis

Discuss the benefits of sales variance analysis and how to calculate it

Explain the reasons for materials variance analysis and how to calculate it

Express the pros of direct labor variance analysis and describe how to calculate it

Describe the benefits of overhead variance analysis and how to use it

Description

Managerial & cost accounting tools

The course will introduce managerial accounting topics that will be used throughout the course, contrasting managerial accounting to financial accounting so that we are in the correct mindset as we move forward.

We will discuss flexible budgets, contrasting flexible budgets with static or fixed budgets, demonstrating the benefits of flexible budgets and how they can be used. We will work example problems related to flexible budgets and provide step by step instructional videos to apply the concepts.

The course will define and analyze standard costs and cost variance analysis, giving an overview of cost variance analysis concepts that we will go into more detail on in later sections.

We will explain sales variance analysis, discussing when it can be used, and how to calculate sales variances. We will provide example problems and step by step instructional videos so we can apply what we learn.

The course will cover direct materials variance analysis, showing what it is, how to use it, and how to calculate direct materials variance analysis. We will demonstrate the concepts listed using instructional videos and using example problems along with step by step instructional videos to complete them.

We will discuss direct labor variance analysis, demonstrating what it is, and how direct labor variance analyst is used. We will demonstrate the concepts with instructional videos and provide example problems and step by step instructional videos to complete them.

The course will discuss overhead variance analysis. We will describe why it is used and how to calculate overhead variance analysis. We will provide demonstration presentations and example problems with step by step instructional videos to help complete them.

We will also include a comprehensive problem on overhead variance and a comprehensive problem on variance analysis. The comprehensive problems will provide preformatted Excel worksheets that we can fill out along with step by step instructional videos. The Excel worksheets will generally have two or three tabs, one tab having the completed problem, the second tab having a preformatted Excel worksheet to work through the problem in a step by step format with instructional videos, and the third tab with a blank sheet that we can use to format our own Excel worksheet.


Screenshots

Flexible Budgets, Standard Costs, & Variance Analysis - Screenshot_01Flexible Budgets, Standard Costs, & Variance Analysis - Screenshot_02Flexible Budgets, Standard Costs, & Variance Analysis - Screenshot_03Flexible Budgets, Standard Costs, & Variance Analysis - Screenshot_04

Content

Introduction

Introduction
PDF - 150 Budgetary Controls and Reporting
150 Budgetary Controls and Reporting
PDF - 160 Budget Options
160 Budget Options
Multiple Choice Questions 1
Accounting Comic

Managerial Accounting Review

2 Managerial Accounting Overview
PDF - 10 Managerial Accounting Introduction
10 Managerial Accounting Introduction
PDF - 20 Cost Classifications
20 Cost Classifications
PDF - 30 Product Costs & Period Costs.ENCODING
30 Product Costs & Period Costs.ENCODING
PDF - 40 Prime Costs & Conversion Costs
40 Prime Costs & Conversion Costs
PDF - 50 Manufacturer's Balance Sheet
50 Manufacturer's Balance Sheet
PDF - 60 Manufacturer's Income Statement
60 Manufacturer's Income Statement
PDF - 70 Manufacturing Activities Flow
70 Manufacturing Activities Flow
PDF - 80 Just In Time (JIT) Manufacturing
80 Just In Time (JIT) Manufacturing
Multiple Choice Questions 2
Accounting Comic

Flexible Budget

3 Flexible Budget
PDF - 170 Flexible Budget Benefits
170 Flexible Budget Benefits
PDF - 175 Flexible Budget
175 Flexible Budget
Download Backup Files
Worksheet - 175 Flexible Budget
177 Flexible Budget Compared To Actual
Excel Worksheet Download
Worksheet - 177 Flexible budget compared to actual part 1
Worksheet - 178 Flexible budget compared to actual part 2
Multiple Choice Questions 3
Accounting Comic

Standard Costs & Cost Variance Analysis Overview

4 Standard Costs & Cost Variance Analysis Overview
PDF - 180 Standard Costs
180 Standard Costs
PDF - 190 Cost Variance Analysis
190 Cost Variance Analysis
Multiple Choice Questions 4
Accounting Comic

Sales Variance Analysis

5 Sales Variance Analysis
PDF - 195 Sales Price & Volume Variance
195 Sales Price & Volume Variance
Excel Download
Worksheet - 195 Sales Price & Volume Variance
Multiple Choice Questions 5
Accounting Comic

Direct Materials Variance Analysis

6 Direct Materials Variance Analysis
PDF - 196 Variance Analysis Direct Material Price Variance & Quantity Variance
196 Variance Analysis Direct Material Price Variance & Quantity Variance
Excel Worksheet Download
Worksheet - 196 Variance analysis part 1 direct materials price and quantity var
Multiple Choice Questions 6
Accounting Comic

Direct Labor Variance Analysis

7 Direct Labor Variance Analysis
PDF - 200 Variance Analysis Direct Labor Rate Variance & Efficiency Variance 230
200 Variance Analysis Direct Labor Rate Variance & Efficiency Variance 2300
Excel Worksheet Download
Worksheet - 200 Variance analysis Part 2 direct labor rate and efficiency
Multiple Choice Questions 7
Accounting Comic

Overhead Variance Analysis

8 Overhead Variance Analysis
PDF - 310 Overhead Cost Variances
310 Overhead Cost Variances
Excel Worksheet Download
Worksheet - 310 Overhead Controllable Variance & Volume Variance
Excel Worksheet Download
Worksheet - 312 Overhead Spending & Efficiency Variance
Multiple Choice Questions 8
Multiple Choice Questions 9
Short Calculation Questions
Accounting Comic

Overhead Variance Comprehensive Problem

9 Overhead Variance Comprehensive Problem
Excel Worksheet Download
Worksheet - 400 overhead Variance Comp
Accounting Comic

Comprehensive Problem

10 Comprehensive Problem
Excel Worksheet Download
Comp Prob 1 Data
Comp Prob 2 Flexible Overhead Budgets
Comp Prob 3 Direct materials cost variance
Comp Prob 4 Direct labor cost variance
Comp Prob 5 Overhead Variance Report
Multiple Choice Questions 10
Accounting Comic

Reviews

Michelsone
February 5, 2022
This course is definitely a good match since my professional duty focuses on budget and doing variance analysis. This information has increased my knowledge in other areas to focus for annual budget prep.
Patricia
July 2, 2021
Was an interesting course. I don't think I can apply to my company as we provide services not products but even though was quite interesting with a few excel spreadsheet for practice.
Nouran
January 30, 2021
there were very helpful thing that the video have such like a lyrics that helps to understand more than you could to the people whom the mother language not the English language ,and the presentation was so easy and nice to one have notice before about budgets and accounting in general . thanks .
William
July 23, 2020
Excellent course. Instructor did a fantastic job presenting information in an easily understood format.
Rechal
June 20, 2020
This course is for a school student, there is no practical exposure and its only a basic of standard costing. As per the description of the course, the content need to be of very high standard compared to what it is. Unnecessary, the number of slides have been increased in course by putting comic joke or pdf separate slide to download. This course is not at all for practical knowledge as even the practical problem considered is of a very basic level.
Mahdi
April 22, 2020
The course is excellent, the teacher explains well, and scientific resources are available such as PDF books and an Excel file for hands-on training. Thanks to the teacher and thank you for your great educational website.
Dr.
April 18, 2020
It is nicely composed, ordered and connected with content explanation. Content is systematically with practical problems. Thanks
Bouchoucha
April 8, 2020
un trés long court car il'a beaucoup de répition dans le contenu j'ai vraiment 20% de valeau ajouté . a very long course because the narrateur repeat word for unusless causes ,i had 20% if additive value
Islam
March 27, 2020
now i am responsible for preparing budget for this year and i want to,learn how i make it and how i can achieve the budget
Onyeka
March 27, 2020
Well structure course I love, very simple to understand but I can assess the discussed questions, that part need to be look into.

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Related Topics

2342436
udemy ID
4/28/2019
course created date
8/25/2019
course indexed date
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course submited by