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Planning and Control with Same 1 Method

Still No Formulas! Budgeting, Decentralized Orgs., Flexible Budgeting, Standard Cost Variances and Capital Budgeting.

Created byDr. Jeff Hillard, CMA, CPA and John Wiley, M.Ed.

Last updated 8/2023

English

What you'll learn

Long-Term Assets
Liabilities
Owner's Equity
Statement of Cash Flows
Financial Statement Analysis

Course content

5 sections • 33 lectures • 2h 58m total length

A Brief Look Inside the Module4:02
A brief introduction to a complete module with conceptual and process frameworks followed by a sample of a complete Master Budget that you can build from numbers in Excel, Practice, Solutions and Extra templates.
Terminology, Processes and Behavioral Issues7:51
The "Why" including how we use the same examples across chapters (pizza and cheese), an overview of Planning Processes and How Budgets motivate management.
Budget Process Flowchart: How the Pieces Fit Together2:35
A unique format showing how the pieces and key variables of the budgeting process fit together.
Sales, Production and Purchases Budget Example, Practice, Solution Extra8:41
Learn the logic of Before in the first three processes then view an example before your practice puzzle with solution and template in Excel.
Direct Labor, Manufacturing Overhead, Cost of Goods Manufactured and Sold5:38
Continue to build your budget model though Example, Practice, Solution and Extra Template.
Operating Exp., Income Statements, Contribution Margin Analysis, Capital Budget4:46
Create your Absorption and Variable Income Statements and Analyze the impact of changing price on Contribution Margin.
Cash Budget: Receipts, Disbursements, Financing Required and Balance Sheet13:02
Learn the logic of After then build your model to forecast Collections, Payments and Financing Required. Bonus Balance Sheet and Cash Flow Drill. Cash is King.

A Brief Look Inside the Module2:33
A brief introduction to the module about the processes, structures, issues and techniques to motivate managers by evaluating the performance of business segments.
Controlling Processes2:19
Introducing the final conceptual framework. Controlling processes to gather information for imporving performance.
Key Issues and Terminology4:41
An overview of Why decentralized organizations are created and the introduction of Global Junk Food, Inc. organization chart.
Segment Reporting3:09
Global Junk Food Inc. example at the Department/Division level internal reporting formats.
Cost Allocation3:39
Global Junk Food Inc. example at the Division/Business Unit level allocation methodologies explained.
Transfer Pricing4:27
Philosophies and negotiating ranges when one business unit sells product or services to another business unit.
Evaluating Investment Centers5:21
ROI - Return on Investment and Residual Income explained using the Investment Centers of Global Junk Food, Inc.

A Brief Look Inside the Flexible Budgeting Module2:25
A concise overview of the unique Practical Accounting approach where you learn Why before efficiently learning How.
Key Issues and Terminology Flexible Budgeting3:16
All the issues and terminology on one page.
Making Sense of Controlling Processes2:18
Before we begin computing, let's really examine Why we are doing this.
Static Budget Variance Analysis3:25
Straightforward explanation of "traditional" variance analysis.
The Bridge: One Method of Variance Analysis4:22
How to adjust for Volume (Review) then Introduce the Unique Bridge Approach to this and the next chapter.
Flexible Budget Variance Analysis Example8:37
Demo in Excel: A straightforward example of the computation of Variance Analysis.
Flexible Budget Variance Analysis Solution, Causes and Practice Puzzle6:32
The color coded solution is used to analyze the potential causes of the variances. A practice puzzle follows with a solution and two extra copies of the format for your use.

A Look Inside the Standard Cost Module3:41
A quick overview of the Bridge Method that prepares you to compute and analyze variances without memorizing the formulas.
What is a Standard Cost and What Causes Variances?5:42
Conceptual Overview and Key Definitions as your foundation for learning.
Compute Direct Materials Variance Analysis and Why9:29
Your guide to building and analyzing Direct Materials variances in Excel.
Compute Direct Labor Variance Analysis and Why5:16
Your guide to building and analyzing Direct Labor variances in Excel using the same method.
Compute Variable MOH Analysis and Why and The Concise Way to Handle Fixed MOH6:23
Your guide to building and analyzing Variable Overhead variances in Excel using the same method then cut to the chase on Fixed MOH.

A Brief Look inside Capital Investment Analysis5:16
A peek inside the module where you will first learn why and when you should use techniques before the formulas and Excel functions.
Overview of Capital Investment Analysis5:44
How Capital Budgeting fits into the process frameworks and a one page overview of the key issues and terminology focusing on the methods for evaluating capital investments.
Payback Method7:06
Learn and practice this method and when to and not to use it.
Calculating Cash Flow5:25
A straightforward model to convert accrual accounting to cash flow forecasting. Practice on the live Excel worksheet.
Time Value of Money Concepts9:38
The tables are old school, but we show you how they were built using the formula in a live Excel sheet.
Net Present Value and Internal Rate of Return Methods8:26
The key to this chapter is on one live Excel sheet that puts it all together.
Capital Rationing and Profitability Index2:39
The final method shows how to pick between two acceptable projects when you can only do one.

Requirements

No prior accounting experience required.

Description

Master Budgeting- Planning for the Future

Learn and practice the Bridge in Excel to prepare a Master Budget. Includes a straightforward conceptual flow chart

- Terminology, Processes and Behavioral Issues

- Budget Process Flowchart: How the pieces fit together

- Sales, Production and Purchases Budget Example, Practice, Solution Extra

- Direct Labor, Manufacturing Overhead, Cost of Goods Manufactured and Sold

- Operating Exp., Income Statements, Contribution Margin Analysis, Capital Budget

- Cash Budget - Receipts, Disbursements, Financing Required and Balance Sheet

Decentralized Organizations and Responsibility Accounting

Learn and practice the Concepts and Bridge computations for Implementing Management of Organizations and Business Segment Reporting.

- Controlling Processes

- Key Issues and Terminology

- Segment Reporting

- Cost Allocation

- Transfer Pricing

- Evaluating Investment Centers

Flexible Budgeting

Learn and practice the Unique and Better Bridge Computation and Interpretation of Flexible Budget Variance Analysis.

- Key Issues and Terminology Flexible Budgeting

- Making Sense of Controlling Processes

- Static Budget Variance Analysis

- The Bridge: One Method of Variance Analysis

- Flexible Budget Variance Analysis Example

- Flexible Budget Variance Analysis Solution, Causes and Practice Puzzle

Standard Costs Variance Analysis

Learn and practice the Unique and Better Bridge Computation and Interpretation of Standard Cost Variance Analysis

- What is a Standard Cost and What Causes Variances?

- Compute Direct Materials Variance Analysis and Why

- Compute Direct Labor Variance Analysis and Why

- Compute Variable MOH Analysis and Why and The Concise Way to handle Fixed MOH

Capital Investment Analysis

Learn how to Analyze Competing Large Projects utilizing the Time Value of Money

- Payback Method

- Calculating Cash Flow

- Time Value of Money Concepts

- Net Present Value and Internal Rate of Return Methods

- Capital Rationing and Profitability Index

Who this course is for:

Businesses, Financial Accounting students and individuals interested in accounting.

Planning and Control with Same 1 Method

What you'll learn

Explore related topics

Course content

Master Budgeting: Planning for the Future7 lectures • 47min

Decentralized Organizations and Responsibility Accounting7 lectures • 26min

Flexible Budgeting7 lectures • 31min

Standard Costs Variance Analysis5 lectures • 31min

Capital Investment Analysis7 lectures • 44min

Requirements

Description

Who this course is for: