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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.
WHAT WILL YOU LEARN IN THIS COURSE:
- 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
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