Welcome to Standard Costing Techniques!!!!
This course is only for Costing, Accounting and Finance Students and Professionals.
In this course, you will be able to understand
a) What is Standard Costing
b) Why Standard Costing
c) Setting up of Standard Cost
d) Material Quantity Standards
e) Labour Time Standards
f) Overheads Time / Quantity Standards
g) Problems faced while setting physical standards
h) Types of Standards (covering Ideal Standards, Normal Standards, Basic Standards and Current Standards)
i) Need for Standard Costs
j) The Process of Standard Costing
k) Types of Variances (covers Controllable and Un-controllable Variances, Favourable and Adverse Variance)
l) Classification of Variance.
followed by Case Studies.
Standard Costing is a method of Costing, which measure the performance or an activity by comparing actual cost with standard cost, analyse the variance and reporting of variances for investigation and appropriate action. This course is structured in self paced learning style.Video lectures are used for presenting the course content.
This is an academic oriented course to equip you for the examinations. This course will go deep in to the concepts followed by case studies. Take this course, if you want to gain control on the topic Standard Costing.
- 14 Videos
Section 1: Introduction
Section 2: Definitons in Standard Costing
- Standard Cost Definition
- Standard Costing Definition
Section 3: Setting up of Standard Cost
- Setting up of Standard Cost
- Physical Standards
- Material Quantity Standards
- Labour Time Standards
- Overhead Standards
- Problems in setting Physical Standards
- Types of Standards
- Need for Standard Costs
- Process of Standard Costing
Section 4: Types and Classification of Variances
- Types of Variances
- Classification of Variances
Language of instruction: English