Simplified Costing Course 2020|ACCA F5|APM|CA|CMA|Grad|PG
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Simplified Costing Course 2020|ACCA F5|APM|CA|CMA|Grad|PG

Beginner to pro in costing | Absorption & marginal costing | Standard Costing | Budget by ACCA(UK) AIR 1 (ex-KPMG)
1.0 (1 rating)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
3 students enrolled
Created by ACCA Classes
Last updated 4/2020
English [Auto]
Current price: $16.99 Original price: $24.99 Discount: 32% off
5 hours left at this price!
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This course includes
  • 2.5 hours on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • Costing
  • Management Accounting
  • Cost Analysis
  • Marginal and Absorption costing
  • ACCA
  • CA
  • Direct and Indirect Cost
  • ABC Costing
  • Standard Costing
  • Budgeting
  • High Low and Learning Curve
  • How to Calculate Variances
  • Planning and Operational Variances
  • CVP Analysis - Calculations
  • Decision Trees and Value of Information
  • Elasticity of Demand, Demand Equation and MR MC Approach
  • Factors Affecting Price and Demand
  • Limiting Factor Analysis and Outsourcing
  • Production Planning with Limiting Factor
  • Relevant Costing
  • Analyzing Financial Performance Indicators
  • Balanced Scorecard
  • Building Block Model
  • Transfer Pricing
  • Costing or Management Accounting : Basic Knowledge

The syllabus for Performance Management (PM), builds on the knowledge gained in Management Accounting (MA) and seeks to examine candidates’ understanding of how to manage the performance of a business.

It also prepares candidates for more specialist capabilities which are covered in Advanced Performance Management (APM). The syllabus begins by focusing on the information needs, technologies and systems required by organisations to manage and measure performance in the modern, competitive environment.

It is vital for an accountant to understand how information systems and developments in technology influence the management accounting techniques employed and how vital information systems are in the mechanisms of managing and controlling an organisation.

The syllabus then introduces more specialized costing and management accounting topics. There is some knowledge assumed from Management Accounting (MA) – primarily overhead treatments. The objective here is to ensure candidates have a broader background in management accounting techniques. The syllabus then considers decision making.

Candidates need to appreciate the problems surrounding scarce resource, pricing and make-or-buy decisions, and how this relates to the assessment of performance. Risk and uncertainty are a factor of real-life decisions and candidates need to understand risk and be able to apply some basic methods to help resolve the risks inherent in decision-making.

Budgeting is an important aspect of many accountants’ lives. The syllabus explores different budgeting techniques and the problems inherent in them. The behavioral aspects of budgeting are important for accountants to understand, and the syllabus includes consideration of the way individuals react to a budget. The preparation of fixed, flexible and incremental budgets is assumed knowledge from Management Accounting (MA).

Standard costing and variances are then built on. All the variances examined in Management Accounting (MA) are assumed knowledge in Performance Management (PM). Mix and yield variances, and planning and operational variances are explored here and the link is made to performance management. It is important for accountants to be able to interpret the numbers that they calculate and ask what they mean in the context of performance.

The syllabus concludes with performance measurement and control. This is a major area of the syllabus. Accountants should appreciate the importance of both financial and non financial performance measures in management and should also appreciate the difficulties in assessing performance in divisional businesses and the problems caused by failing to consider external influences on performance. This section leads directly to Advanced Performance Management (APM).

Who this course is for:
  • ACCA
  • association of chartered certified accountants
  • Chartered Accountants
  • Company secretary
  • CFA
  • MBA
  • Graduates
  • Post Gradudates
  • Cost Accountants
  • CIMA
  • Chartered Institute of Management Accountants
Course content
Expand all 18 lectures 02:31:13
+ Absorption & Marginal Costing
7 lectures 49:49
Concept & Steps in Absorption Costing
OAR + Over & Under Absorption
Concept of Marginal Costing
Absorption vs Marginal Costing Profit Proforma
Example Part 1 - Absorption vs Marginal Profit Calculation
Example Part 2 + Comparing Profits between Absorption and Marginal
+ Budgeting and Standard Costing - Part C Performance Management
9 lectures 01:33:38
Budgetary Process and Additional Aspect
Different Approaches to Budgeting
High Low and Learning Curve
Introduction to Standard Costing
How to Calculate Variances?
Mix and Yield Variances
Analyzing Variances & Operating Statements
Planning and Operational Variances
Behavioral Aspects of Budgeting and Standards