Overview:
Budget is typically agreed before the start of the financial period which it covers. As the period passes, the actual performance is then compared to the budget as a benchmark. To gain more detail, variance analysis is used which is covered in the course including topics such as standard cost, materials and labour cost and usage.
Learning outcomes:
By completing this course, you will be able to:
- Understand the concept of a standard cost
- Be able to describe basic variances including materials and labour cost and usage
- Understand the concept of more advanced variances such as mix and yield
- Be able to explain the meaning and use of key variances
Authored by: David Halford
Dave Halford qualified with Deloitte in Bristol in 2001. A love of education and personal interaction led him to join the firm that trained him, BPP in Bristol, the following year. Over the last 16 years Dave has worked in a variety of teaching, management and writing roles within BPP, as well as completing a Law Degree via BPP’s Law School.
Dave is currently a Subject Matter Expert for the final admittance exams for CIMA and the ICAEW, as well as all of the law exams across the accounting bodies.
CPD Points: 1
CPD Duration (hours): 1
Access: 12 months from purchase date
