This self-contained course covers the basics of costing for anybody looking to improve their knowledge or career prospects.
It is also suitable for AAT Level 2 students sitting the latest (AQ 2013 specification) Association of Accounting Technicians (AAT) Basic Accounting (BCST) module and is presented by tutors who have taught hundreds of AAT students with a 100% success rate – no student of ours has ever failed this module!
The lectures are presented in a relaxed, friendly, simple Keynote presentation - each section covers a part of the course specification and is backed up with a question bank for learning reinforcement.
In about 4 hours and with question practice you will be in a position to sit the AAT assessment with confidence.
The tutor will also be available during office hours to answer your queries/give advice.
In addition you receive:
An introduction to the course and the instructor
A look at the format of the AAT Accounting Qualification
How the AAT assesses students at the different levels of the qualification
The options available to suit you to get the most out of this course
A definition of accountancy and consideration of the types of users
In this lecture we will take a look at the three types of accounting, how they interact and the main types of statements, the differences and what they show to the different types of users
Here we consider the main aims of management accounting and its usefulness to management
Why we need to analyse costs and what we do with that information
The Definition of a cost unit and examples
In this lecture we consider the four classifications of costs and the way in which this shapes our thinking about the behaviour of costs in general
A look at a typical construction of a cost statement for a product
Here we look at a definition of a cost centre, examples of their use in both manufacturing and service industries and how systems need to be geared up to provide the base information
Moving on from cost centres we consider how profit centres are defined
At the top of the hierarchy are investment centres. We consider how they differ from cost and profit centres
In this critical lecture we look at how costs behave and the effect this has on how total and unit costs respond to changes in output.
Here we will consider how to calculate the cost per unit of output and look at an example which demonstrates how cost per unit decreases as activity increases.
A look at the why, how and structure of coding systems
Here we look at the three types of inventory with examples of each
Moving on from lecture 20 we look at the three methods of valuation of issues and closing inventory and how these differently affect the results.
In this lecture we consider the formula for calculating closing inventory and direct materials used and the valuation of issues problem.
Here we look at the definition, use and construction of a manufacturing account.
In this lecture we consider the nature of labour costs
Here we consider the time - related method of calculation of pay, the actual methods of payment and the advantages and disadvantages of this method
Here we consider the output related method of calculation of pay and the advantages and disadvantages of this method
In this lecture we look at other items that may be included in the pay calculation, how these may come about and we work through an assessment question that highlights efficiencies of the workforce.
In this lecture we consider the nature of labour costs and their classification into direct or indirect costs.
A Summary of labour cost behaviour
A look at employee record keeping and its use in payroll
In this lecture we begin our study of budgeting and variances by looking at a definition of budgeting.
In this lecture we take a look at what management gain from the budgeting process
A wrap of the course including further resources
Here we show a blank and completed budget template
In a critical lecture for the assessment we begin our study of variances by looking at cost and revenue variances and how we classify actual results from budget using example calculations.
How management can use value and percentage parameters to highlight budget variances that are significant to their operation.
Here we consider the use of spreadsheets to display variances from budgets
Steve Currie has a varied background both in the corporate world and as an entrepreneur.
He graduated in business studies and then qualified as a chartered management accountant, later becoming a Fellow. He gained over 20 years' experience culminating at board level specialising in rationalisation, cost reduction and the sale and purchase of companies.
During the past 14 years as an entrepreneur, Steve has started, managed and sold businesses in diverse areas such as property, hospitality, social media and online shopping.
He has also developed a passion for teaching accountancy and business courses for both the public and private sector and is an active business mentor.
Steve is a qualified lecturer, holds a certificate in Advanced Management from Ashridge Business School, is a member of both the Institute of Enterprise and Entrepreneurs and the Association of Business Mentors and is also a mentor for The Prince's Trust.
Steve is also a speaker and under pseudonyms he currently has 10 books in publication.