Introduction to Managerial Accounting Professor Savita Sahay Activity Based Costing (Chapter 5) Please visit our website at http://raw.rutgers.edu TIME STAMPS Quick Review of Applied Overhead: 0:19 Practice Problem: 2:48 --- Calculating cost of each unit (job costing) Single Allocation Rate System Outdated: 4:00 ABC Features: 4:47 Practice Problem #2 (info given): 5:46 --- ABC question & solution: 7:15 Practice Problem #3: 9:15 --- Budgeted overhead rate and overhead cost per unit calculations --- Overhead Allocation: 10:26 Steps in Activity Based Costing: 13:00 Hierarchy of Activities: 13:37 Practice Problem #4: 15:14 --- Identifying unit, batch, product, and facility level activities Comprehensive Practice Problem #5: 16:41 --- Questions / Solutions: 17:26 Bottom Line - Simple vs. ABC [Conclusion]: 21:54 The applied overhead rate is a sinle, manufacturing overhead allocation rate using the following formula: Budgeted Manufacturing Overhead Rate = Budgeted manufacturing overhead costs / Budgeted Direct Labor hours. Allocating overhead costs to the job involves multiplying the budgeted allocation rate by the number of actual direct labor hours. Traditional systems were developed in 1800 and focused on simplicity because (1) direct labor information was already being recorded, (2) direct labor was a large component of product costs, and (3) managers believed direct labor and overhead costs were highly correlated. Simple systems often resulted in cross-subsidization, and incorrect costs lead to sub-optimal decisions. The single allocation rate system is outdated. Today, direct labor alone may no longer be a satisfactory base for allocation of overhead. Most companies sell a large variety of products that consume differing amounts of overhead. As a percentage of total costs, direct labor has been shrinking and overhead has been increasing. Many of the new overhead costs may not be correlated with direct labor. Technology advancements have reduced the cost and complexity of gathering diverse sources of data. In activity based costing, a number of allocation bases are used for assigning costs to products. A predetermined overhead rate is computed for each activity and then applied to jobs and products based on the amount of activity consumed by the job or product. It also calculates a more accurate product cost than traditional methods (by categorizing all indirect costs by activity, tracing the indirect costs to those activities, and assigning those costs to products by using a cost driver related to the cause of the cost). The steps in activity based costing involve (1) identifying and classifying each activity, (2) estimating the cost of resources for each activity, (3) identifying a cost driver for each activity and estimating the quantity of each cost driver, (4) calculating an activity cost rate for each activity, and lastly, (5) assigning costs to products based on the level of activity required to make the product or provide the service. The hierarchy of activities is as follows: (1) Unit level (output level) activities are performed each time a unit is produced (such as providing power to run processing equipment. (2) Batch-level activities are performed each time a batch is handled or processed, regardless of how many units are in the batch (such as setting up equipment and shipping customer orders). (3) Product-sustaining level activities relate to specific products and must be carried out, regardless of how many batches are run or units produced and sold (such as designing or advertising a product). (4) Facility sustaining level activities are carried out regardless of which products are produced, how many batches are run, or how many units are made (such as heating a factory or building rent). Examples of each type of activity: machine depreciation is UNIT level, setup costs are BATCH level, spare parts management is PRODUCT level, and property taxes / insurance is FACILITY level. Regarding simple vs. activity based costing, both methods are mathematically correct and acceptable. Each method yields a different cost figure, which will lead to different gross margin calculations. Only overhead is involved. Total costs for the entire firm remain the same - they are just allocated to different cost objects within the firm. Selection of the appropriate method and drivers should be based on experience, industry practices, as well as cost benefit analysis of each option under consideration. To receive additional updates regarding our library please subscribe to our mailing list using the following link: http://rbx.business.rutgers.edu/subscribe.html
Views: 21128 Rutgers Accounting Web
Hi guys and welcome back to my channel! I've had sooo many questions about how much I make and what average salaries are for accountants. So I decided to finally make a video about it. Hope you enjoy! Ebates - https://www.ebates.com/r/SARALU156?eeid=28187 If you would like to get $10 off your Erin Condren order sign up here : https://www.erincondren.com/referral/invite/saramarie0929 *Affiliate links *Erin Condren Life Planner - http://www.shareasale.com/r.cfm?B=1042078&U=1600336&M=71368&urllink= *Erin Condren Monthly Deluxe Life Planner (2018) - http://www.shareasale.com/r.cfm?B=1042578&U=1600336&M=71368&urllink= *Budgeting Stickers - http://shareasale.com/r.cfm?b=1042577&u=1600336&m=71368&urllink=&afftrack= Weather Stickers - https://www.amazon.com/gp/product/B000OMJUUK/ref=oh_aui_detailpage_o03_s00?ie=UTF8&psc=1 If you liked this video please give it a thumbs up and if you're not already, please subscribe! Follow me on instragram! Username :saramarieyt For business inquiries : [email protected]
Views: 95185 Sara Marie
Hi guys and welcome to back to my channel. I've had countless requests to do a ranking of accounting classes and finally had the opportunity to put one together for you all. Hope you enjoy! Ebates - https://www.ebates.com/r/SARALU156?eeid=28187 If you would like to get $10 off your Erin Condren order sign up here : https://www.erincondren.com/referral/invite/saramarie0929 *Affiliate links *Erin Condren Life Planner - http://www.shareasale.com/r.cfm?B=1042078&U=1600336&M=71368&urllink= *Erin Condren Monthly Deluxe Life Planner (2018) - http://www.shareasale.com/r.cfm?B=1042578&U=1600336&M=71368&urllink= *Budgeting Stickers - http://shareasale.com/r.cfm?b=1042577&u=1600336&m=71368&urllink=&afftrack= Weather Stickers - https://www.amazon.com/gp/product/B000OMJUUK/ref=oh_aui_detailpage_o03_s00?ie=UTF8&psc=1 If you liked this video please give it a thumbs up and if you're not already, please subscribe! Follow me on instragram! Username :saramarieyt For business inquiries : [email protected]
Views: 20896 Sara Marie
Hi guys and welcome back to my channel. This has been a super highly requested video so I attempted it and hope it helps all those who are considering majoring and starting a career in accounting. Thanks for watching!! Ebates - https://www.ebates.com/r/SARALU156?eeid=28187 If you would like to get $10 off your Erin Condren order sign up here : https://www.erincondren.com/referral/invite/saramarie0929 *Erin Condren Life Planner - http://www.shareasale.com/r.cfm?B=1042078&U=1600336&M=71368&urllink= *Erin Condren Monthly Deluxe Life Planner (2018) - http://www.shareasale.com/r.cfm?B=1042578&U=1600336&M=71368&urllink= *Budgeting Stickers - http://shareasale.com/r.cfm?b=1042577&u=1600336&m=71368&urllink=&afftrack= Weather Stickers - https://www.amazon.com/gp/product/B000OMJUUK/ref=oh_aui_detailpage_o03_s00?ie=UTF8&psc=1 If you liked this video please give it a thumbs up and if you're not already, please subscribe! Follow me on instragram! Username :saramarieyt For business inquiries : [email protected] *Affiliate links
Views: 227099 Sara Marie
Activity Based Costing Example - Accounting video by TheAccountingDr is a tutorial video with examples on using an activity-based costing system: 1) calculate the allocation rate and 2) allocated costs (overhead/indirect costs) using the allocation rate. In addition, we calculate the indirect costs per unit of planned products as well as the product costs per unit of planned products (direct materials + direct labor + OH). Managerial Accounting lecture notes: http://tiny.cc/nw1enw Activity-Based Costing terminology review game: http://tiny.cc/mxgoow -- Thank you all for your wonderful support. Because of your support we have been able to reach and help numerous accounting students. Please continue to be a part of our mission to help other accounting students be successful by giving our videos thumbs up, giving comments and adding our videos to your favorites. Subscribe: http://www.youtube.com/subscription_center?add_user=routhwsuedu Friend me on Facebook and post your questions: http://www.facebook.com/TheAccountingDoctor -- For more accounting/how to eLectures (and accompanying lecture notes) similar to Activity-Based Costing Examples - Managerial Accounting video, blog, FAQs and accounting eBooks visit http://www.TheAccountingDr.com. Activity-Based Costing Examples - Managerial Accounting video: http://youtu.be/7SNjEHIYjns -- Please note that videos may require Flash media and may not play on devices without Flash capabilities (i.e. iPad). If you are having difficulty viewing this video on YouTube, these videos may also be viewed without Flash on my website at http://www.TheAccountingDr.com.
Views: 116397 Brian Routh TheAccountingDr
Thinking about how different types of expenditures would be accounted for in GDP Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/real-nominal-gdp-tutorial/v/real-gdp-and-nominal-gdp?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/components-of-gdp?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy's Macroeconomics channel: https://www.youtube.com/channel/UCBytY7pnP0GAHB3C8vDeXvg Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 211974 Khan Academy
Hi guys and welcome back to my channel! A few of you all have asked what I do as an accountant so I decided to do a quick video outlining some of the exciting stuff that I do as an accountant! Hope you enjoy! Ebates - https://www.ebates.com/r/SARALU156?eeid=28187 If you would like to get $10 off your Erin Condren order sign up here : https://www.erincondren.com/referral/invite/saramarie0929 *Erin Condren Life Planner - http://www.shareasale.com/r.cfm?B=1042078&U=1600336&M=71368&urllink= *Erin Condren Monthly Deluxe Life Planner (2018) - http://www.shareasale.com/r.cfm?B=1042578&U=1600336&M=71368&urllink= *Budgeting Stickers - http://shareasale.com/r.cfm?b=1042577&u=1600336&m=71368&urllink=&afftrack= Weather Stickers - https://www.amazon.com/gp/product/B000OMJUUK/ref=oh_aui_detailpage_o03_s00?ie=UTF8&psc=1 If you liked this video please give it a thumbs up and if you're not already, please subscribe! Follow me on instragram! Username :saramarieyt For business inquiries : [email protected] *Affiliate links
Views: 95772 Sara Marie
Clicked here http://www.MBAbullshit.com/ and OMG wow!I'm SHOCKED how easy.. Imagine your brand makes two types of mobile phone devices. They are each produced working with one machine. The maintenance cost of the apparatus is $100 a month. What percentage should each style of telephone share under the maintenance cost? In order to be "just", some will suggest that the cost must be divided 50%-50%. However, what if Phone A consumes 90 hours of the machinery, and Phone B uses only 10 hours of the apparatus? Should the cost remain to be split 50%-50%? As part of classic "allocated" costing, the cost should probably still be split 50%-50%. However applying the principle of Activity Based Costing, it needs to most likely be cut up 90%-10% for the reason that one phone type is based on 90 hours of the apparatus monthly while the other cell phone form typically only consumes 10 hours of the identical device. The foregoing technique makes use of "amount of activity" for being a function of costing, and not just "allocation" where accountants simplistically allot the costs by the same token.Needless to say, for any product or service, there are a lot more activities to consider, and not only the employment of a particular device. These varying activities which generally encounter a mark on cost are classified as "cost drivers". Cost drivers may appear in numerous varieties for instance machine hours consumed, number of inspections, hours spent on inspections, number of production runs, quantity of hours used up throughout production, quantity of setups, together with multiple others.In the case above, we simply used machine hours consumed. Inside a less forgiving example, we may additionally need to consider the number of inspections. Suppose Phone A solicited added inspections by enterprise engineers than Phone B? It goes without saying, a great deal more of the compensation of institution engineers really needs to be allocated to Phone A. Whereas, what if Phone B solicited a great deal more production runs than Phone A? Again, we would struggle to conveniently partition broad production costs among the two mobile phone types. To further complicate the problem, what if Phone A, irrespective of using far less production runs, solicited more production setups than Phone B? Evidently, the difficulty of appropriately allocating costs to each of the phone models can get incredibly exhausting. Having said that, this difficulty can be really worth the effort if it helps a business apply extra meticulous or more defined costs on items, which can be made use to help the company in its pricing methods. The beauty of Activity Based Costing is that it considers all these diverse costs and cost drivers in a timely fashion, granting an organization the competence to perform pretty defined costing inspite of such concerns. http://www.youtube.com/watch?v=PcjxRe4EsuY activity based costing, abc costing, what is activity based costing, what is abc http://mbabullshit.com/blog/activity-based-costing/
Views: 291817 MBAbullshitDotCom
For Part 2, Go To http://mbabullshit.com/ If You Liked it, Support my Free Videos at https://www.patreon.com/MBAbull Activity Based Costing Example In 3 Minutes Activity Based Costing is different from traditional costing... Traditional costing is easy because if often just divides some types of costs equally between different items. These are usually costs which are a bit difficult to divide or allocate between products, such as electricity, telephone bills, internet usage, rent, salaries, and others.However, Activity Based Costing finds ways to divide or allocate these costs more proportionally or "fairly"... ...so that we can write down a higher cost for items or products which use more of the stuff related to costs. For example, we might want to write down a higher electric power cost for burgers than for lemonades. As a result, this might cause us to sell our burgers at a higher price than the lemonades, and the lemonades at a lower price than the burgers. Of course, electric power is not the only cost in making burgers and lemonades. Therefore, we have to think about other costs as well before making our final pricing decisions. Check out my free video at http://www.MBAbullshit.com See ya there!
Views: 191604 MBAbullshitDotCom
Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu The cost of goods manufactured statement displays the cost of products manufactured in a period by breaking down the costs into direct materials, direct labor, manufacturing overhead and changes in work in process. Cost of goods manufactured will ultimately be added to finished goods and be expensed as cost of goods sold. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 91196 Notepirate
Free ebook: 150 accounting interview questions & answers: http://interviewquestions360.com/free-ebook-150-accounting-interview-questions-and-answers You can use other interview materials for accounting career from site: interviewquestions360.com as below: • free ebook top 18 secrets to win every job interviews • 13 types of interview questions and how to face them • job interview checklist 40 points • top 8 interview thank you letter samples • free 42 cover letter samples • free 48 resume samples • top 15 ways to search new jobs • top 36 situational interview questions • 440 behavioral interview questions ebook pdf download • top 40 second interview questions • 95 management interview questions and answers ebook pdf download • top 30 phone interview questions • 290 competency based interview questions • 45 internship interview questions • 15 tips for job interview attire (dress code, clothes, what to wear) • top 15 written test examples • top 15 closing statements • 20 case study examples for job interview • top 25 scenarios interview questions • top 25 tips for interview preparation • top 10 tips to answer biggest weakness and strengths questions • tips to answer question tell me about yourself • 16 job application tips • top 14 job interview advices • top 18 best interview practices • 25 career goals examples • top 36 technical interview questions • 18 job interview exam samples • Q A 25 questions with answers • 12 followup email thank you letter samples • 15 tips for job interview withour no experience • 15 presentation ideas for job interview • 12 job interview role play examples • 10 job interview techniques • 11 job interview skills • tips to answer question why should I hire you • 25 interview questions to ask employer • 25 job interview assessment test examples • 15 tips to answer experience questions • 12 tips to answer education knowledge questions The above accounting interview questions can be used for fields as: construction, manufacturing, healthcare, non profit, advertising, agile, architecture, automotive, agency, budget, building, business development, consulting, communication, clinical research, design, software development, product development, interior design, web development, engineering, education, events, electrical, exhibition, energy, ngo, finance, fashion, green card, oil gas, hospital, it, marketing, media, mining, nhs, non technical, oil and gas, offshore, pharmaceutical, real estate, retail, research, human resources, telecommunications, technology, technical, senior, digital, software, web, clinical, hr, infrastructure, business, erp, creative, ict, hvac, sales, quality management, uk, implementation, network, operations, architectural, environmental, crm, website, interactive, security, supply chain, logistics, training, project management, administrative management… The above accounting interview questions also can be used for job title levels: entry level accounting, junior accounting, senior accounting, accounting assistant, accounting associate, accounting administrator, accounting clerk, accounting coordinator, accounting consultant, accounting controller, accounting director, accounting engineer, accounting executive, accounting leader, accounting manager, accounting officer, accounting specialist, accounting supervisor, VP accounting, internship accountant, accounting technician, fund accountant, cost accountant, project accountant, staff accountant, senior accountant, management accountant, chartered accountant, junior accountant, finance accountant, trainee accountant…
Views: 41413 Accounting Career
Learn in this Video How we create Products tree In Focus Accounts Software
Views: 43 Bivocalstudio
Full Crash Course on Udemy for $9.99: http://bit.ly/2Dhip74 Activity based costing (ABC) systems provide a way of splitting overhead costs into different overhead activities. The costs are then allocated to products or projects proportionally by their cost driver activity levels. Join us as we go through an example to explain ABC costing. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 30907 Notepirate
MIT 18.S096 Topics in Mathematics with Applications in Finance, Fall 2013 View the complete course: http://ocw.mit.edu/18-S096F13 Instructor: Peter Kempthorne, Choongbum Lee, Vasily Strela, Jake Xia In the first lecture of this course, the instructors introduce key terms and concepts related to financial products, markets, and quantitative analysis. License: Creative Commons BY-NC-SA More information at http://ocw.mit.edu/terms More courses at http://ocw.mit.edu
Views: 702839 MIT OpenCourseWare
Direct Cost A direct cost is a cost that can be easily and conveniently traced to a specified cost object. Indirect Cost An indirect cost is a cost that cannot be easily and conveniently traced to a specified cost object. For example, a Campbell Soup factory may produce dozens of varieties of canned soups. A common cost is a cost that is incurred to support a number of cost objects but cannot be traced to them individually. A common cost is a type of indirect cost. A particular cost may be direct or indirect, depending on the cost object. Direct Labor Direct labor consists of labor costs that can be easily (i.e., physically and conveniently) traced to individual units of product. Direct labor is sometimes called touch labor because direct labor workers typically touch the product while it is being made. Labor costs that cannot be physically traced to particular products, or that can be traced only at great cost and inconvenience, are termed indirect labor. Just like indirect materials, indirect labor is treated as part of manufacturing overhead. Indirect labor includes the labor costs of janitors, supervisors, materials handlers, and night security guards. Although the efforts of these workers are essential, it would be either impractical or impossible to accurately trace their costs to specific units of product. Hence, such labor costs are treated as indirect labor. Manufacturing Overhead Manufacturing overhead, the third manufacturing cost category, includes all manufacturing costs except direct materials and direct labor. Manufacturing overhead includes items such as indirect materials; indirect labor; maintenance and repairs on production equipment; and heat and light, property taxes, depreciation, and insurance on manufacturing facilities. A company also incurs costs for heat and light, property taxes, insurance, depreciation, and so forth, associated with its selling and administrative functions, but these costs are not included as part of manufacturing overhead. Only those costs associated with operating the factory are included in manufacturing overhead. Various names are used for manufacturing overhead, such as indirect manufacturing cost, factory overhead, and factory burden. All of these terms are synonyms for manufacturing overhead. Nonmanufacturing Costs Nonmanufacturing costs are often divided into two categories: (1) selling costs and (2) administrative costs. Selling costs include all costs that are incurred to secure customer orders and get the finished product to the customer. These costs are sometimes called order-getting and order-filling costs. Examples of selling costs include advertising, shipping, sales travel, sales commissions, sales salaries, and costs of finished goods warehouses. Selling costs can be either direct or indirect costs. For example, the cost of an advertising campaign dedicated to one specific product is a direct cost of that product, whereas the salary of a marketing manager who oversees numerous products is an indirect cost with respect to individual products. Administrative costs include all costs associated with the general management of an organization rather than with manufacturing or selling. Examples of administrative costs include executive compensation, general accounting, secretarial, public relations, and similar costs involved in the overall, general administration of the organization as a whole. Administrative costs can be either direct or indirect costs. For example, the salary of an accounting manager in charge of accounts receivable collections in the East region is a direct cost of that region, whereas the salary of a chief financial officer who oversees all of a company’s regions is an indirect cost with respect to individual regions. Nonmanufacturing costs are also often called selling, general, and administrative (SG&A) costs or just selling and administrative costs. Direct cost, indirect cost, common cost, manufacturing overhead cost, indirect material, indirect labor, selling cost, administrative cost, product cost, period costs, prime cost, conversion cost, variable cost, fixed cost, committed fixed cost, discretionary fixed cost, relevant range, mixed cost, engineering approach, scattergraph, high-low method, traditional format, contribution format income statement, differential cost, differential revenue, opportunity cost.sunk cost, relevant cost.
Views: 22566 Farhat's Accounting Lectures
In this video, I have explained how Sales Cloud can boost your companies productivity. Some Important object of Sales Cloud: 1. Campaign 2. Lead 3. Account 4. Contact 5. Opportunity 6. Product 7. Price Book 8. Contract 9. Orders Hope you enjoy and get educated by these videos. My Linkedin Profile: https://www.linkedin.com/in/imshreysh... Facebook Page: https://www.facebook.com/SalesforceHulk/ Tweet me at: https://twitter.com/iamshreysharma Reach me out at: https://shreysharma.com Salesforce Hulk Website: https://salesforcehulk.com
Views: 13217 Salesforce Hulk
Direct links to file: START FILE: https://people.highline.edu/mgirvin/YouTubeExcelIsFun/E%20W%20T%20M%20Accounting%20Excel%20Seminar-StartFileSoYouCanFollowAlong.xlsx FINISHED FILE: https://people.highline.edu/mgirvin/YouTubeExcelIsFun/E%20W%20T%20M%20Accounting%20Excel%20SeminarAllFinishedExamplesAfterVideoDone.xlsm Keyboards 0:01:47 Jump: Ctrl + Arrow 0:02:20 Go To Cell A1: Ctrl + Home 0:02:36 Format Cells dialog box or in a chart Format Chart dialog box: Ctrl + 1 0:03:40 Currency Number Format: Ctrl + Shift + 4 0:04:08 Highlight column: Ctrl + Shift + Arrow0:04:20 Currency Vs Accounting Number Format 0:05:00 Alt keys: 0:05:47 PivotTable: Alt, N, V, T 0:05:47 PivotTable 2003: Alt, D, P 0:05:47 Page Setup: Alt, P, S, P 0:05:47 SUM: Alt + = 0:08:38 "Put thing in cell and move selected cell up": Shift + Enter 0:09:35 "Put thing in cell and keep cell selected": Ctrl + Enter 0:09:35 Select sheet to right: Ctrl + PageDown 0:11:11 Select sheet to left: Ctrl + PageUp 0:11:11 Number Formatting As Façade: 0:11:52 Decimal Number Format 0:12:38 Date Number Format 0:13:56 Keyboard for today's hard caded date: 0:13:56 Time Number Format 0:17:10 Percentage Number Format 0:21:25 Efficient Formula Creation 0:25:01 Excel's Golden Rule: If a formula input can vary, put it in a cell and refer to it in the formula with a cell reference 0:25:01 Formula elements, types of formulas, types of data 0:25:01 Monthly Allocation Formula: illustrate formula input that can be hard coded into formula 0:27:00 Tax (inefficient formula): illustrate formula input that can should NOT hard coded into formula 0:27:35 Tax (efficient formula): illustrate Golden Rule 0:27:35 Net Cash In formula: illustrate Golden Rule 0:27:35 Net Income formula: illustrate formula with built-in function within a larger formula 0:30:00 In Balance? formula: illustrate Logical formula 0:30:40 First & Last Name Join Formula: illustrate Text formula 0:31:54 COUNTIF formula: illustrate counting with criteria 0:33:29 COUNTIF & Label formula: illustrate counting with criteria and how the join symbol is used with criteria 0:34:19 Clear Formatting 0:35:50 SUMIFS to add with two criteria 0:36:21 SUMIFS to add between 2 dates 0:38:08 Count workdays formula to illustrate new Excel 2010 function NETWORKDAYS.INTL 0:41:46 Relative and Absolute Cell References 0:41:46 Mixed cell references in budget formula 0:43:58 Lookup Formulas 0:49:50 VLOOKUP to lookup product price: illustrate Exact Match lookup 0:49:50 Data Validation List: 0:53:10 VLOOKUP and IFERROR 0:55:13 VLOOKUP to lookup commission rate: illustrate Approximate Match lookup 0:56:45 Retrieve record (2-way lookup) with VLOOKUP and MATCH 0:59:53 MATCH, ISNA and ISNUMBER functions to compare 2 lists 1:03:38 INDEX and MATCH to lookup Left 1:07:00 Pivot Tables 1:10:02 Proper Data Set 1:10:02 PivotTables Pivot Tables are Easy 1:12:00 Visualize Table First 1:12:00 Adding with One or Two Conditions (Criteria) 1:12:00 Report Layout 1:16:58 Number Formatting 1:17:44 Style Formatting, Create Your Own 1:19:05 Pivoting 1:21:21 Listing Two Fields in Row Labels 1:21:21 Collapsing Pivot Table Row 1:21:59 Changing Calculation: SUM to AVERAGE 1:22:42 Adding with Three Criteria 1:23:29 Filtering a Row (Show Top Two Regions), Clear Filter 1:24:46 Filter whole report with Report Filter 1:25:55 Show Report Filter Pages (30 PivotTables with 1 click) 1:27:55 Filter whole report with Report Filter or Slicer 1:28:30 Compare Formulas and PivotTables 1:30:13 Grouping Dates in PivotTables 1:33:42 Difference between Grouping Integers and Grouping Decimals 1:35:41 Pivot Chart 1:39:00 Show Values As: 1:40:45 Copy PivotTable 1:41:43 Running Totals & % Running Totals 1:42:00 % of Grand Totals, % of Column Total, % of Row Total 1:43:01 Difference From, % Difference From 1:44:17 Multiple Calculation in one PivotTable 1:46:26 Creating Second PivotTable from Second Cache of data using Excel 2003 keyboard shortcut for 3-step Wizard 1:47:54 Blank in number field causes PivotTable to Count by Default 1:49:30 Text in Date field prohibits Grouping of Dates 1:50:09 Recorded Macros For Reports: Basic Recorded Macro 1:51:05 Absolute References and save in Personal Workbook 1:55:10 How to trick the Macro Recorder into seeing a variable height report using Relative References 2:00:51 Rearrange records from vertical orientation to proper table using Relative References 2:09:01 Charts 2:13:35 Chart Types 2:13:35 Column Chart and How The Chart Wizard Interprets Data From Cells 2:17:48 Chart keyboards (Create Default Chart) 2:18:10 Select Data Source Dialog Box 2:20:30 Linking Chart Title to Cells 2:23:09 Saving Chart Templates 2:25:43 Setting Default Charts 2:26:48 Copy Charts 2:27:45 Bar and Stacked Bar charts 2:27:57 Line Chart & Change Source Data 2:31:39 Number Formatting to show "K" or "M" 2:34:52 Line Chart vs. X Y Chart 2:35:53 X Y Scatter 2:36:45 X Y Scatter Line Break Even Analysis Chart 2:41:28 Multiple chart types 2:42:42
Views: 3320241 ExcelIsFun
An overview of how to classify costs as product (to inventory) or period (expense as incurred). Easy to follow discussion.
Views: 4196 Janice Cobb
For more information, please refer to https://www.odoo.com/page/warehouse To schedule a demo, please refer to https://www.odoo.com/r/demo-twidjaja If you have any question, please send it to [email protected]
Views: 1240 Odoo
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Views: 1760 Burtontower
----HEADSET THURSDAY---- This week on headset Thursday ive chosen to play.....Accounting Plus! This has got to be one of the weirdest and funniest games i have ever played. And i stumbled into a secret level on my first playthrough... Join me as i make my first 100 videos. If you liked this video PEEPS then go ahead and BUM that like button and share it with all your friends. It really helps this channel to grow. You PEEPS are awesome. Game Link. https://store.playstation.com/en-gb/product/EP3470-CUSA10061_00-0123456789ABCDEF?emcid=pa-st-111284 SUBSCRIBE. https://www.youtube.com/user/themassivemo?sub_confirmation=1 FACEBOOK. https://www.facebook.com/Duf-Arshfart-760028780828426/ TWITTER. https://twitter.com/DufArshfart --- Virtual Reality Inception | Accounting Plus (PSVR) Virtual Reality Inception | Accounting Plus (PSVR) Virtual Reality Inception | Accounting Plus (PSVR)
Views: 7663 Duf Arshfart
Professor Nance provides students with accounting lessons for any level in her series "Accounting in 10 Minutes or Less." In this lesson, she explains how to calculate the different formulas associated with Cost-Volume-Profit Analysis for Multiple Products. For more information, questions or tutoring options, email [email protected] Academy.com or visit www.NanceAccountingAcademy.com
Views: 136 Professor Nance
Hi guys and welcome back to my channel. I've had a lot of interest in my accounting experience so I decided to share some internship and job advice. Hope you enjoy! Ebates - https://www.ebates.com/r/SARALU156?eeid=28187 If you would like to get $10 off your Erin Condren order sign up here : https://www.erincondren.com/referral/invite/saramarie0929 Erin Condren Life Planner - http://www.shareasale.com/r.cfm?B=1042078&U=1600336&M=71368&urllink= Erin Condren Monthly Deluxe Life Planner (2018) - http://www.shareasale.com/r.cfm?B=1042578&U=1600336&M=71368&urllink= Weather Stickers - https://www.amazon.com/gp/product/B000OMJUUK/ref=oh_aui_detailpage_o03_s00?ie=UTF8&psc=1 If you liked this video please give it a thumbs up and if you're not already, please subscribe! Follow me on instragram! Username :saramarieyt For business inquiries : [email protected]
Views: 7336 Sara Marie
Subscribe to Alanis Business Academy on YouTube for updates on the latest videos: https://www.youtube.com/alanisbusinessacademy?sub_confirmation=1 The product mix represents the collection of different products that a business offers its customers. With an understanding of the product mix, businesses can develop a strategy to reach their customers by offering the right collections of goods and services. Learn more about the product mix in the latest lecture from Alanis Business Academy. In addition to learning general information about the product mix, you'll also learn how some of the strategy behind widening and narrowing a product mix.
Views: 37347 Alanis Business Academy
In Anglo-Saxon accounting, sometimes the cost of the product used in the invoice accounting is different from the cost of the product in the stock move accounting. We developed a script to automatically reconcile the entries/correct for the difference. The target audience for this: expert, user/developer The version and edition covered: V11 Enterprise What is the structure of your talk: presentation. This Talk was delivered by Stephan Keller, Sodexis, Inc.
Views: 259 Odoo
manufacturing overhead also needs to be recorded on the job cost sheet. However, assigning manufacturing overhead to a specific job involves some difficulties. There are three reasons for this: Manufacturing overhead is an indirect cost. This means that it is either impossible or difficult to trace these costs to a particular product or job. Manufacturing overhead consists of many different types of cost ranging from the grease used in machines to the annual salary of the production manager. Some of these costs are variable overhead costs because they vary in direct proportion to changes in the level of production (e.g., indirect materials, supplies, and power) and some are fixed overhead costs because they remain constant as the level of production fluctuates (e.g., heat and light, property taxes, and insurance).Page 123 Because of the fixed costs in manufacturing overhead, total manufacturing overhead costs tend to remain relatively constant from one period to the next even though the number of units produced can fluctuate widely. Consequently, the average cost per unit will vary from one period to the next. Given these problems, allocation is used to assign overhead costs to products. Allocation is accomplished by selecting an allocation base that is common to all of the company’s products and services. An allocation base is a measure such as direct labor-hours (DLH) or machine-hours (MH) that is used to assign overhead costs to products and services. The most widely used allocation bases in manufacturing are direct labor-hours, direct labor cost, machine-hours and (where a company has only a single product) units of product. Manufacturing overhead is commonly assigned to products using a predetermined overhead rate. The predetermined overhead rate is computed by dividing the total estimated manufacturing overhead cost for the period by the estimated total amount of the allocation base for the period as follows: The predetermined overhead rate is computed before the period begins using a four-step process. The first step is to estimate the total amount of the allocation base (the denominator) that will be required for next period’s estimated level of production. The second step is to estimate the total fixed manufacturing overhead cost for the coming period and the variable manufacturing overhead cost per unit of the allocation base. The third step is to use the cost formula shown below to estimate the total manufacturing overhead cost (the numerator) for the coming period: Y = a + bX where, Y = The estimated total manufacturing overhead cost a = The estimated total fixed manufacturing overhead cost b = The estimated variable manufacturing overhead cost per unit of the allocation base X = The estimated total amount of the allocation base The fourth step is to compute the predetermined overhead rate. Notice, the estimated amount of the allocation base is determined before estimating the total manufacturing overhead cost. This needs to be done because total manufacturing overhead cost includes variable overhead costs that depend on the amount of the allocation base. The Need for a Predetermined Rate Instead of using a predetermined rate based on estimates, why not base the overhead rate on the actual total manufacturing overhead cost and the actual total amount of the allocation base incurred on a monthly, quarterly, or annual basis? If an actual rate is computed monthly or quarterly, seasonal factors in overhead costs or in the allocation base can produce fluctuations in the overhead rate. For example, the costs of heating and cooling a factory in Illinois will be highest in the winter and summer months and lowest in the spring and fall. If the overhead rate is recomputed at the end of each month or each quarter based on actual costs and activity, the overhead rate would go up in the winter and summer and down in the spring and fall. As a result, two identical jobs, one completed in the winter and one completed in the spring, would be assigned different manufacturing overhead costs. Many managers believe that such fluctuations in product costs serve no useful purpose. To avoid such fluctuations, actual overhead rates could be computed on an annual or less-frequent basis. However, if the overhead rate is computed annually based on the actual costs and activity for the year, the manufacturing overhead assigned to any particular job would not be known until the end of the year. predetermined overhead rate, cost driver, fixed overhead, variable overhead Raw materials, work in process, finished goods, cost of goods manufactured, manufactured overhead cost Cost of goods manufactured Underapplied, overapplied, Job order costing, Direct cost, indirect cost, common cost, manufacturing overhead cost, indirect material, job cost sheet, job number, subsidiary ledger, material requisition form, bill of materials, time ticket, allocation base
Views: 14158 Farhat's Accounting Lectures
Lecture 7: ABC & Customer Profitability Analysis Professor Noel Cooperberg (Chapter 5) After giving a brief introduction to activity-based costing, the Professor goes on to review key terms associated with the topic. Activity based costing is also compared and contrasted to volume-based costing. Afterwards, the method of developing an ABC system are developed, including activity analysis and the assignment of resource costs. Activity Based Costing Introduction (example): 0:40 Overview of Learning Objectives: 3:25 ABC vs. Volume Based Costing: 4:49 Volume-based Costing: 7:59 Review Question: 10:00 Activity-based Costing (key terms): 12:59 Developing an ABC System: 14:42 Activity Analysis (Step 1): 16:09 Assign Resource Costs (Step 2 & 3): 18:53 Question: 20:02 Silence / students solving a problem: 20:24 - 25:12 Question Review / Solution: 25:13 Question: 36:07 Costing is the process of accumulating, classifying, and assigning direct materials, direct labor, and overhead to products, services, or projects. Volume-based costing is often inadequate. Indirect cost allocation is based on volume of output. Indirect costs do not always occur in proportion to output volume. It provides no incentive to control indirect costs. Volume-based costing may cuase cross-subsidization. Some products will be over-costed, and others undercosted. Activity based costing uses detailed information about the activities that make up indirect costs. Outputs are charged based on resources consumed. Although it is often inadequate, volume-based costing may be okay to use if direct costs are the major cost component and if the activities supporting production are relatively simple, low-cost, and homogeneous across product lines. Industries that appropriately use volume-based costing include professional service and commodity firms. An activity is a specific task (such as production set-up). A resource is an economic element consumed in performing activities (like salaries and supplies). Resource consumption cost drivers measure the amount of resources consumed by an activity (for example, the number of labor hours to complete production set-up). Activity consumption cost drivers measure the amount of activity performed (for example, the number of batches to manufacture a product). There are three steps in developing an ABC system. First, identify the resource costs and activities (through activity analysis - know how they consume resources). Data can be collected from existing documents, records, questionnaires, observation, and interviews. Sample questions to ask include what work / activities do you do, how time time spent on activities, resources required to perform activities, what value does doing this activity add to the customer and organization as a whole. After asking the questions, classify the activities by the way in which they consume resources (unit-level, batch-level, product-level, and facility-level). Unit-level activities are performed on each unit of product or service (like direct materials). Batch-level activities are performed for each batch or group of units (like setting up machines). Product-level activities support the production of a specific product (engineering changes). Facility level activities support overall operations (like property taxes and insurance). Second, assign the resource costs to activities (use resource consumption cost drivers, like direct labor hours, setups, moves, machine hours, employees, or square feet, based on cause & effect to assign resource costs). Third, assign activity costs to cost objects (use activity consumption cost drivers like purchase orders, receiving reports, parts stored, direct labor hours, or manufacturing cycle time). To receive additional updates regarding our library please subscribe to our mailing list using the following link: http://rbx.business.rutgers.edu/subscribe.html
Views: 5383 Rutgers Accounting Web
CONCEPT ON NATIONAL INCOME ACCOUNTING-PRODUCT METHOD & VALUE ADDED METHOD BY DIGI CLASS,digiclass. for class 12 and TDC level tlm ideas by kulen http://destyy.com/wH3riV
Views: 92 DIGI CLASS
Under absorption costing, product costs include all manufacturing costs. Some manufacturing costs, such as direct materials, can be directly traced to particular products. For example, the cost of the airbags installed in a Toyota Camry can be easily traced to that particular auto. But what about manufacturing costs like factory rent? Such costs do not change from month to month, whereas the number and variety of products made in the factory may vary dramatically from one month to the next. Because these costs remain unchanged from month to month regardless of what products are made, they are clearly not caused by—and cannot be directly traced to—any particular product. Therefore, these types of costs are assigned to products and services by averaging across time and across products. The type of production process influences how this averaging is done. Job-order costing is used in situations where many different products, each with individual and unique features, are produced each period. For example, a Levi Strauss clothing factory would typically make many different types of jeans for both men and women during a month. This is a custom product that is being made for the first time, but if this were one of the company’s standard products, it would have an established bill of materials. A bill of materials is a document that lists the type and quantity of each type of direct material needed to complete a unit of product. The materials requisition form is a document that specifies the type and quantity of materials to be drawn from the storeroom and identifies the job that will be charged for the cost of the materials. The form is used to control the flow of materials into production and also for making entries in the accounting records. A job cost sheet records the materials, labor, and manufacturing overhead costs charged to that job. Measuring Direct Labor Cost Direct labor consists of labor charges that can be easily traced to a particular job. Labor charges that cannot be easily traced directly to any job are treated as part of manufacturing overhead. As discussed in a previous chapter, this latter category of labor costs is called indirect labor and includes tasks such as maintenance, supervision, and cleanup. Today many companies rely on computerized systems (rather than paper and pencil) to maintain employee time tickets. A completed time ticket is an hour-by-hour summary of the employee’s activities throughout the day. One computerized approach to creating time tickets uses bar codes to capture data. Computing Predetermined Overhead Rates. There are three reasons for this: Manufacturing overhead is an indirect cost. This means that it is either impossible or difficult to trace these costs to a particular product or job. Manufacturing overhead consists of many different types of cost ranging from the grease used in machines to the annual salary of the production manager. Some of these costs are variable overhead costs because they vary in direct proportion to changes in the level of production (e.g., indirect materials, supplies, and power) and some are fixed overhead costs because they remain constant as the level of production fluctuates (e.g., heat and light, property taxes, and insurance).Page 123 Because of the fixed costs in manufacturing overhead, total manufacturing overhead costs tend to remain relatively constant from one period to the next even though the number of units produced can fluctuate widely. Consequently, the average cost per unit will vary from one period to the next. An allocation base is a measure such as direct labor-hours (DLH) or machine-hours (MH) that is used to assign overhead costs to products and services. The most widely used allocation bases in manufacturing are direct labor-hours, direct labor cost, machine-hours and (where a company has only a single product) units of product. Job order costing, Direct cost, indirect cost, common cost, manufacturing overhead cost, indirect material, job cost sheet, job number, subsidiary ledger, material requisition form, bill of materials, time ticket, allocation base predetermined overhead rate, cost driver, fixed overhead, variable overhead Raw materials, work in process, finished goods, cost of goods manufactured, manufactured overhead cost Cost of goods manufactured Underapplied, overapplied
Views: 16770 Farhat's Accounting Lectures
One small step for clown..one giant leap for ribbity kind. Have we found the entrance to the secret zoo level finally? And who is Swampy Cornelius? Accounting plus has just released a very important update with regards to the secret zoo level. The Waterpark Level!!!! If you liked this video PEEPS then go ahead and BUM that like button and share it with all your friends. It really helps this channel to grow. You PEEPS are awesome. Join the Secret Zoo Level Subreddit/Discord for all updates - https://www.reddit.com/r/SecretZooLevel/ Frog on TV/Swampy Cornelius dialogue - http://www.mediafire.com/file/v2gpb1rypo1cflo/levelwars_s01ep01.mp3 Game Link - https://store.playstation.com/en-gb/product/EP3470-CUSA10061_00-0123456789ABCDEF ------------POPULAR SECRET ZOO LEVEL DISCORD MEMBERS---------- PSVRfrank - https://www.youtube.com/channel/UCv__I_eDHy1dMfjBn1MP1BA Blockhead Gaming - https://www.youtube.com/channel/UC12M-8PMMU_t37AgjqMXkCw SUBSCRIBE. http://www.youtube.com/user/themassivemo?sub_confirmation=1 FACEBOOK. https://www.facebook.com/Duf-Arshfart-760028780828426/ TWITTER. https://twitter.com/DufArshfart --- More Secret Zoo Level Clues | Accounting Plus | PSVR More Secret Zoo Level Clues | Accounting Plus | PSVR More Secret Zoo Level Clues | Accounting Plus | PSVR
Views: 9115 Duf Arshfart
This video will show you how to create new products within Fusion Accounts. Once a product has been created it can be edited at a later date. We can set stock levels for each product. Stock levels will increase/decrease when a sales invoices is created against a product or when a sales/purchase order has been allocated. Fusion Accounts - online accounting, anytime, anywhere, http://www.fusionaccounts.com
Views: 68 Stuart McLean
Download Retail Business Manager Excel template from https://indzara.com/product/retail-business-manager-excel-template/ This Excel template provides a simple and effective solution for managing retail and wholesale business for small business owners. Welcome to the introduction video of the Retail Business Manager Excel template from indzara.com. The purpose of this template is to help manage retail or wholesale business. The applicable business scenario is where a business purchases products from suppliers, and then sells them as they are to customers. The customers can be end-users or other businesses. The template incorporates order management, inventory management, finance management, invoice and purchase order generation, data management, and extensive reporting all into one solution. It is designed to be a generic solution for any retail business regardless of type of products sold. It can be used in any country and comes by default with no currency symbols. User can change currency as needed. Here are some highlights of this template. To achieve our goal of simple and effective business management, the template presents a comprehensive approach by incorporating multiple business aspects in one application. In terms of orders, there are 5 different types of orders that can be handled. Prices are auto-populated on each order. That saves us time. Invoice and purchase orders are automatically generated on demand. In inventory management, we will have access to the current inventory level of each product. We can also check the future availability to fulfill a sales order. Tax and discounts are handled. Payments made on orders can be recorded. Cost of goods sold, gross profit, and net profit calculations are provided as well. Reporting is extensive and interactive. It provides access to all the relevant key metrics and also identifies the best performing products and partners. The benefits provided are very straightforward. Overall, it leads to a much improved management of our business as this solution handles many business aspects in a consolidated and simple approach. We save a lot of time as the template automates the calculations. Also, extensive reporting is already built in. One can get started with this template in just a few minutes as it's very simple to learn and use. Creating invoices and purchase orders is easy as it's automated. We save a lot of money compared to a specialized inventory management software in the market as there is no recurring monthly fee here. Finally, it's very easy to get started as we will be using our own familiar Microsoft Excel we all love to use. The template supports business operations with 1 warehouse location. It does not support barcode scanning and data needs to be entered by the user. This template is compatible with Excel for Windows 2010 and above versions, Excel for Mac 2011 and above versions. One of the key focus areas from indzara.com is to provide superior support material, so the support page has a lot of articles and video tutorials on how to use the template. As always, I look forward to your feedback to this version of the template. It will help me continue to enhance the product moving forward. If you have any questions, please leave them in the comments. I will be very glad to respond. Thank you very much for watching this video. Please watch the tour video next to learn more about the features of this template. REQUIREMENTS Microsoft Excel 2010 or above for Windows; Microsoft Excel 2011 or above for Mac; FEATURES Inventory Management Calculates current inventory of a product Set re-order points and know what to order Checks availability while creating invoices Finance Management Track payments on orders Handles Tax Handles product level and order level Discounts Track operational expenses Calculates COGS, Gross and Net Profit Invoice / P.O. Generate automatic Invoice/P.O. Export to PDF or Print Customize with logo and data as needed Data Management Easily accessible Product and Order Lists Organized Customer/Supplier data Maintain product price data Reporting 6 Page interactive report 12 month trends of all key metrics Identify best products and partners Inventory Value calculation Know when payments are due Simple and Effective Excel Templates: http://indzara.com/ Free Excel Templates: http://indzara.com/free-excel-templates/ Premium Excel Templates: http://indzara.com/shop/ Project Management Templates: http://indzara.com/project-management-excel-templates/ Inventory Management Templates: http://indzara.com/inventory-management-excel-templates/ Free Excel Course: http://indzara.com/useful-excel-for-beginners/ Social: Subscribe to YouTube: http://www.youtube.com/user/theindzara?sub_confirmation=1 Facebook: https://www.facebook.com/theindzara YouTube: https://www.youtube.com/user/theindzara LinkedIn: https://www.linkedin.com/company/indzara Twitter: https://www.youtube.com/user/theindzara
Views: 6874 Indzara
Introduction to Cost Accounting - (COST SHEET) Accounting tutorial, Elements of costs, Material cost, Labour cost, other expenses, Direct material cost, indirect material cost, direct labour cost, indirect labour cost, direct other expenses, indirect other expenses. Over heads. Factory over heads, office and administrative over heads, selling and distribution over heads. To watch more tutorials pls visit: www.youtube.com/c/kauserwise * Financial Accounts * Corporate accounts * Cost and Management accounts * Operations Research Playlists: For Financial accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnojfVAucCUHGmcAay_1ov46 For Cost and Management accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnpgUjlVR-znIRMFVF0A_aaA For Corporate accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnorJc6lonRWP4b39sZgUEhx For Operations Research - https://www.youtube.com/playlist?list=PLabr9RWfBcnoLyXr4Y7MzmHSu3bDjLvhu
Views: 691998 Kauser Wise
if you are interested with business opportunity and product orders please contact +639499468462 +639157454710 fb: [email protected] skype: aimjmagallanes Dating Fishball Vendor, sumali sa AIM GLOBAL, NAKAPAG 7 SEVEN HEADS, Talagang naghanap ng paraan. Ika nga talaga, KUNG GUSTO, MAY PARAAN, dahil kung gugustuhin mong mabago buhay, maghahanap ka talaga ng paraan :) NAKAKA INSPIRE TALAGA!! :D Taken from AIM GLOBAL SIZZLE @ Head Office last February 5, 2014 via justin.tv livestream ALLIANCE IN MOTION GLOBAL, INC. is a marketing company established in March 2006. It is located at Units 301, 319 and 320 AIC Burgundy Empire Tower, cor. Garnet & Sapphire Sts., Ortigas Center, Pasig City, Philippines. In more than 5 years of operation, Alliance In Motion Global, Inc. has established its presence strategically in different regions in the country and abroad. At present, it has 87 Business Centers and 94 Satellite Offices nationwide, Singapore and Brunei as the 2 International business center office. : Alliance In Motion Global Inc. is conceptualized to provide unmatched quality distribution of exceptional products and services through a combination of advanced technology, distinctive marketing strategies, excellent product lines and exemplary leadership that secures the success of the company. A pro-distributor concept that sets trend on distributors' extravagant packages such as transferrable scholarships, free or discounted medical services, insurance package and world class quality products. : As a "PRO-DISTRIBUTOR" marketing company, Alliance In Motion Global, Inc. is devoted to providing its distributors a brighter future. It gives paramount importance in helping them achieve their dreams. In line with this, the company has made a strong alliance with more than 300 schools, clinics and hospitals nationwide through its scholarship and medical programs providing distributors and their families affordable, quality education and medical services. : Alliance In Motion Global Inc. is the only multi-level marketing company accredited by Natures Way, Utah , USA as its exclusive product distributor in the Philippines and other countries in the world. : With its phenomenal sales contribution through its dynamic product line, the industry recognized and awarded its products with 6 achievement awards from entities engaged with product leadership and excellence in the country. : The company acknowledges the dedication and hard work of its distributors for having a sequence of remarkable sales. In return, Alliance In Motion Global, Inc. offers outstanding all expense paid travel incentives to its top distributors to further inspire them to excel in the world of multi-level marketing business. : At present, leaders and distributors travel around the country to promote a passion for life, service and prosperity by providing revolutionary products and services to help them achieve financial independence that will surely result to economic progress. And soon, Alliance In Motion Global Inc. will be recognized as a leader in providing quality products and services on a global scale.
Views: 27922 AIM GLOBAL Video Archives Unofficial
Variable Cost A variable cost varies, in total, in direct proportion to changes in the level of activity. Common examples of variable costs include cost of goods sold for a merchandising company, direct materials, direct labor, variable elements of manufacturing overhead, such as indirect materials, supplies, and power, and variable elements of selling and administrative expenses, such as commissions and shipping costs.2 For a cost to be variable, it must be variable with respect to something. That “something” is its activity base. An activity base is a measure of whatever causes the incurrence of a variable cost. An activity base is sometimes referred to as a cost driver. Some of the most common activity bases are direct labor-hours, machine-hours, units produced, and units sold. Other examples of activity bases (cost drivers) include the number of miles driven by salespersons, the number of pounds of laundry cleaned by a hotel, the number of calls handled by technical support staff at a software company, and the number of beds occupied in a hospital. While there are many activity bases within organizations, throughout this textbook, unless stated otherwise, you should assume that the activity base under consideration is the total volume of goods and services provided by the organization. We will specify the activity base only when it is something other than total output. variable cost, fixed cost, committed fixed cost, discretionary fixed cost, relevant range, mixed cost, engineering approach, scattergraph, high-low method, traditional format, contribution format income statement, Direct cost, indirect cost, common cost, manufacturing overhead cost, indirect material, indirect labor, selling cost, administrative cost, product cost, period costs, prime cost, conversion cost. Fixed Cost A fixed cost is a cost that remains constant, in total, regardless of changes in the level of activity. Examples of fixed costs include straight-line depreciation, insurance, property taxes, rent, supervisory salaries, administrative salaries, and advertising. Unlike variable costs, fixed costs are not affected by changes in activity. Consequently, as the activity level rises and falls, total fixed costs remain constant unless influenced by some outside force, such as a landlord increasing your monthly rental expense. The Linearity Assumption and the Relevant Range Management accountants ordinarily assume that costs are strictly linear; that is, the relation between cost on the one hand and activity on the other can be represented by a straight line. Economists point out that many costs are actually curvilinear; that is, the relation between cost and activity is a curve. Nevertheless, even if a cost is not strictly linear, it can be approximated within a narrow band of activity known as the relevant range by a straight line. The relevant range is the range of activity within which the assumption that cost behavior is strictly linear is reasonably valid. Mixed Costs A mixed cost contains both variable and fixed cost elements. Mixed costs are also known as semivariable costs. Managers can use a variety of methods to estimate the fixed and variable components of a mixed cost such as account analysis, the engineering approach, the high-low method, and least-squares regression analysis. In account analysis, an account is classified as either variable or fixed based on the analyst’s prior knowledge of how the cost in the account behaves. For example, direct materials would be classified as variable and a building lease cost would be classified as fixed because of the nature of those costs. The engineering approach to cost analysis involves a detailed analysis of what cost behavior should be, based on an industrial engineer’s evaluation of the production methods to be used, the materials specifications, labor requirements, equipment usage, production efficiency, power consumption, and so on. The first step in applying the high-low method or the least-squares regression method is to diagnose cost behavior with a scattergraph plot.Two things should be noted about this scattergraph: The total maintenance cost, Y, is plotted on the vertical axis. Cost is known as the dependent variable because the amount of cost incurred during a period depends on the level of activity for the period. (That is, as the level of activity increases, total cost will also ordinarily increase.) The activity, X (patient-days in this case), is plotted on the horizontal axis. Activity is known as the independent variable because it causes variations in the cost. From the scattergraph plot, it is evident that maintenance costs do increase with the number of patient-days in an approximately linear fashion. In other words, the points lie more or less along a straight line that slopes upward and to the right. Cost behavior is considered linear whenever a straight line is a reasonable approximation for the relation between cost and activity.
Views: 10247 Farhat's Accounting Lectures
Tally ERP 9 Latest and fast track tutorial 2017. The Pdf and Excel File is also available for best learning on tally ERP 9 Learn Golden Rules in Accounting – Personal Account Debit and Credit Rules 1) Personal Account – Credit Transaction ( Name / Company / Firm) Dr – The Receiver Cr – The Giver Purchase Goods From Mr A for Rs 25000 Purchase a/c dr 25000 Mr A a/c 25000 Sales Goods to Mr B Rs 35000 Mr B a/c dr 35000 Sales a/c 35000 Download Tally ERP 9 Software : http://www.tallysolutions.com/downloads/tallyerp9 [email protected]@@@@@@@ Genron Education & Technologies @@@@@@@@!! --------------------------------------------------------------- Do Share, Support, Subscribe & Comment for Improvement on Our Channel. Subscribe Now: https://goo.gl/gqI7d4 Blog: http://genrontech.com Facebook Page: https://www.facebook.com/genrontech Facebook Myself: https://www.facebook.com/sunielmalviya Instagram Myself: http://instagram.com/sunielmalviya LinkedIn Myself: https://in.linkedin.com/in/sunielmalviya Twitter: https://twitter.com/GenronTech Google Plus: https://plus.google.com/+Genrontechdotcom Pinterest: https://in.pinterest.com/genrontech/ Suniel Malviya Office Youtube Channel: https://goo.gl/Mbd5CH --------------------------------------------------------------- About Us: GenronTech Deals with Online Earning & Learning Skill By Which Any Individual or Group Can Earn a Good Living for Him/Her or for His/Her Family. We Also Deal With Reviewing Product and It's Features. --------------------------------------------------------------- Get In Touch With Us: Mumbai, Maharashtra, Email: [email protected] | [email protected] Send Message: https://goo.gl/KL21YM --------------------------------------------------------------- Thanks For your Lovable Support Regards, Suniel Malviya, (GenronTech)
Views: 21212 Genron Tech
Objective of this video: What are the elements of cost ? What are the two most important costing techniques ? What is marginal costing technique ? What is contribution ? The different elements of costs are materials, labour and expense. The elements of costs can broadly be put into two categories. Fixed costs are those which do not vary, but remain constant within a given period of time, inspite of fluctuations in production. The examples of fixed costs are rent, insurance charges, management salaries, etc. On the other hand, variable costs are those which vary in direct proportion to any change in the volume of output. The costs of direct material, direct wages, etc. can be put into this category. The cost of a product can be ascertained by any of the following two techniques. Marginal costing: This technique is a definite improvement over the technique of absorption costing. According to this technique, only the variable costs are considered in calculating the cost of the product, while fixed costs are charged against the revenue of the period. The marginal cost of a product is its "VARIABLE COST". There are different phrases being used for this technique of costing. In UK, marginal costing is a popular phrase, whereas in US, it is known as ''DIRECT COSTING'' and is used in place of marginal costing. ''VARIABLE COSTING'' is another name of ''MARGINAL COSTING''. Contribution: Marginal costing technique has given birth to a very useful concept of ''contribution'' where contribution is given by sales revenue less marginal cost (variable cost). Contribution may be defined as the profit before the recovery of fixed costs. Thus, contribution goes towards the recovery of fixed cost and profit, and is equal to fixed cost plus profit (C = F + P). Contribution = Fixed cost + Profit In case, a firm neither makes profit nor suffers losses, contribution will be just equal to fixed cost (C = F). This is known as ''BREAK EVEN POINT''. The concept of contribution is very useful in marginal costing. It has a fixed relation with the sales. PRINCIPLES OF MARGINAL COSTING TECHNIQUE Since fixed costs relate to a period of time, and do not change with increase or decrease in sales volume, it is misleading to charge units of sale with a share of fixed costs. When a unit of product is made, the extra costs incurred in its manufacturing are the variable production costs. Fixed costs are unaffected, and no extra fixed costs are incurred when output is increased.
Views: 37109 Alternate Learning
Learn Inventory Management ,Stock Management in Tally ERP9, learn how to maintain accounts with inventory in tally erp 9 with gst. Accounts with inventory, Accounts with stock, Inventory Means Stock Creation in which we learn stock group creation, Stock Item creation, Unit of Measure creation and showing stock report in Stock Summary that is stock register which shows stock inwards, stock outwards, stock closing balance. Also Learn Opening Stock and Closing Stock Adjustments. Learn How to Post Purchase, Sales, Purchase Return, Sales Return Entries with Stock in Tally. You can manage your business accounts with stock. Learn about Tally erp 9 Inventory Vouchers with Practical Examples. It is Basic Class for Inventory or Stock Mgt. in Tally for Beginners. It is Full Step by Step Tally Tutorial in Hindi. Must Watch to Master in Tally Accounting Practical Approach to work smartly. Have a Nice Day!!! Happy Learning!!! Keep Learning!!! Complete Basic Accounting Class with Example -Day 1|Journal Entry in Tally https://www.youtube.com/watch?v=vZQGxkommug&list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv&index=1 INTRODUCTION to TALLY ERP 9 Day-2| Tally Versions, Gateway of Tally https://www.youtube.com/watch?v=XCszfm-6nBY&t=1s Company Creation, Alteration, Tally Password, Vault Password, Delete Company- Day 3 https://www.youtube.com/watch?v=pqLoH8ObJ_M Concept of Groups in Tally-Day-4 https://www.youtube.com/watch?v=6wi9BGM4iLA How to Create Ledgers-Day-5 https://www.youtube.com/watch?v=Cb6QLeXs_OU Voucher Entry -Contra,Payment,Receipt,Journal,Sales,Purchase Voucher-Day-6 https://www.youtube.com/watch?v=tGX9iZSWu9I Watch All Bank Transaction Entries in Tally-Day 7 https://www.youtube.com/watch?v=QV1M0ALJPOA Discount Related Entries in Tally | Cash or Trade Discount | All About Discount Tally-Day 8 https://www.youtube.com/watch?v=AfMlAyxw3j8&index=8&list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv&t=25s Basic Adjustment Entries|Journal Voucher Entries -Day-9 https://www.youtube.com/watch?v=IYBoqln8uK4&index=9&list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv&t=25s Common Tally Problems Dr/ Cr Mode|Single Payment Mode|DAY-10 https://www.youtube.com/watch?v=43azz8FC89A&index=10&list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv Download Practices Entries form our blog: http://cpitudaipur.blogspot.in/ Watch Tally Erp 9 Shortcut and Tricks- https://www.youtube.com/watch?v=s2vcoM6kF8M&t=25s Watch Tally Erp 9 Calculator Tricks- https://www.youtube.com/watch?v=wdTXMZIfdh4 Watch How to Run Tally in Pen Drive- https://www.youtube.com/watch?v=48yH5o4ytLA Learn Tally Erp 9 Basic To Advance Level-https://www.youtube.com/playlist?list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv Visit Our Website: http://www.cpitudaipur.com Visit Our Blog: http://cpitudaipur.blogspot.in/ Like Our Facebook Page: http://facebook.com/cpitudr Please Subscribe to Our Channel https://www.youtube.com/channel/UCSMsxXvvi-7XvygtsMWRBOg
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COSTS AND COSTING TECHINQUES The different elements of costs are materials, labour and expenses. The elements of costs can broadly be put into two categories. 1. Fixed costs 2. Variable costs Fixed cost are those which do not vary, but remain constant within a given period of time, inspite of fluctuations in production. The examples of fixed costs are rent, insurance charges, management salaries, etc. On the other hand, variable costs are those which vary in direct proportion to any change in the volume of output. The costs of direct material, direct wages etc, can be put into this category. The cost of a product can be ascertained by any of the following two costing techniques: 1. Absorption costing Technique 2. Marginal Costing Techigue Absorbtion costing technique is also termed as ''TRADITIONAL or FULL COST METHOD''. According to this method, the cost of a product is determined after considering both fixed and variable costs. The variable costs, such as those of direct materials, direct labour, etc. are directly charged to the products, while the fixed costs are approportioned on a suitable basis over different products, manufactured during a period. Thus, in the case of absorption costing, all costs are identified with the manufactured products. Advantages of absorption costing: It recognizes the importance of fixed costs in production. This method is accepted by Inland revenue, as stock is not undervalued. This method is always used to prepare financial accounts. When production remains constant, but sales fluctuate absorption costing will show less fluctuation in net profit. Unlike marginal costing, where fixed costs are agreed to change into variable cost, it is cost into the stock value, hence distorting stock valuation. Disadvantages of absorption costing: It assumes that prices are simply a function of costs. It does not take the account of demand. It includes past costs which may not be relevant to the pricing decision at hand. It does not provide information which aids decision-making in a rapidly changing market environment.As the manager's emphasis is on total cost, the cost-volume-profit relationship is ignored. The manager needs to use his intuition to make the decision.
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In this Swastik Accounting Software tutorial, I will be showing you how to CreateProduct On Swastik Accounting Software . Swastik Accounting software online training. For More Video go to https://goo.gl/CJQCyr
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Watch the Release 13 spotlight video on top level messages and product themes of Oracle Enterprise Resource Planning Cloud - Accounting Hub. For more information on Financials cloud, visit https://cloud.oracle.com/erp
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Joints product, split off point, joint cost, relative sales value, incremental revenue, incremental cost, managerial accounting, CMA exam, cpa exam,
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Introduction to Managerial Accounting Professor Savita Sahay Introduction to Cost Terms and Concepts (Chapter 2) Please visit our website at http://raw.rutgers.edu TIME STAMPS Basic Cost Terminology: 0:44 --- Cost, cost objects, cost accumulation, cost pools, and cost driver definitions Basic Cost Terminology: 2:32 --- Cost allocation and relevant range defined MCQ #1: 3:30 --- Cost objects include MCQ #2: 3:51 --- Function of cost system Direct & Indirect Costs: 4:37 MCQ #3: 6:42 --- Classifying a cost as either direct or indirect MCQ #4: 7:04 --- Labor costs included in direct labor Cost Behavior: 7:45 Variable Cost: Total and per Unit: 9:27 Fixed Cost: Total and per Unit: 10:02 MCQ #5: 10:39 --- Variable costs MCQ #6: 11:20 --- Variable cost of an insurance company MCQ #7: 11:43 --- Fixed costs MCQ #8: 12:20 --- Fixed cost for automobile manufacturing plant Unit and Total Costs: 12:41 MCQ #9: 14:12 --- Behavior of total manufacturing costs and unit manufacturing costs given an increase in production Open ended problem: 15:12 --- Total cost of production Three types of firms: 16:43 Manufacturing Costs: 17:57 Product Costs (Manufacturing Costs): 18:26 Period Costs (Non-Manufacturing Costs): 20:20 Inventory in Manufacturing Companies: 22:06 The Manufacturing Cost Flow: 24:03 Steps (of the manufacturing cost flow): 27:15 Statement of Cost of Goods Sold (steps): 29:25 Statement of Cost of Goods Sold: 30:54 --- Flow from raw materials to work in process Inventory in Other Companies: 32:52 MCQ #10, #11: 34:13 --- Merchandising companies MCQ #12: 35:08 --- Indirect manufacturing costs MCQ #13: 35:51 --- Inventoriable Costs Practice Problem: 36:30 --- Calculating cost of goods manufactured --- Calculating gross margin --- Calculating operating income MCQ #14: 38:28 --- Direct labor costs in a manufacturing company Practice Problem: 39:28 --- Calculating cost of goods sold. Prime Cost and Conversion Cost: 40:13 Overtime Labor Costs Problem: 40:58 A cost is a resource sacrificed or forgone to achieve a specific objective. A cost object is anything to which costs attach or are related (products, services, departments, operating activities, etc). Cost accumulation is the collection of cost data in some organized manner using the accounting system. A cost pool is a collection of indirect costs assigned to a cost object. A cost driver is any activity that causes a cost to be incurred (direct labor hours, direct labor costs, units produced, etc). Cost allocation is the process of assigning manufacturing overhead costs to the product (cost object) during an accounting period. It requires the pooling of manufacturing costs that are affected by a common activity and the selection of a cost driver whose activity level causes a change in the cost pool. A relevant range is the band of normal activity level (or volume) in which there is a specific relationship between the level of activity (or volume) and a given cost. For example , fixed costs are considered fixed only within the relevant range. Direct costs can be conveniently and economically traced (tracked) to a cost object. For example, the direct costs of a cheese pizza (the cost object) would be flour, cheese, and sauce for direct materials, and the cook's salary for direct labor. Indirect costs are costs that cannot be conveniently and economically traced to a cost object. Indirect costs of a cheese pizza include salt, cleaning supplies, and lightbulbs for indirect materials, and janitors salary, material store-room custodian's wages for indirect labor. Variable costs change in proportion to changes in the related level of activity or volume. They are constant on a per unit basis. Fixed costs, on the other hand, remain unchanged in total regardless of changes in the related level of activity or volume. They change inversely with the level of production. As more units are produced, the same fixed cost is spread over more and more units, reducing the cost per unit (think of it as "more bang for your buck."). Unit costs are the costs of manufacturing a single unit of a product, which includes costs of direct materials, direct labor, and manufacturing overhead. It is computed by one of two ways - dividing total accumulated costs by the total number of units produced and determining the cost per unit for each element of the product costs and summing those per-unit costs. Unit costs should be used cautiously due to the fact that they change with a different level of output or volume. There are 3 types of firms. Manufacturing sector companies purchase materials and components and convert them into finished products. Merchandising sector companies purchase and then sell tangible products without changing their basic form. Service sector companies provide services (intangible products).
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Lecture 4: Basic Cost Management Concepts (Part 2) by Professor Noel Cooperberg (Chapter 3) After briefly reviewing product and period costs (from the previous lecture), the Professor goes on to give in-depth explanations of cost pools, cost drivers, and cost objects. The method of assigning costs to activities using cost drivers is also shown. Product and Period Costs: 0:52 Cost Pools, Drivers, and Objects: 1:21 Cost Driver Examples: 3:51 Cost Assignment (General Principles flow-chart): 4:39 Cost Drivers (flow-chart): 5:45 Cost Behavior (of Cost Drivers): 6:11 Types of Production Processes (chart): 7:00 Qualitative Considerations of Cost Information: 10:02 Product costs include the costs to complete the product at the manufacturing step in the value chain (manufacturing) and to purchase and transport the product to the location of sale (merchandising). Period costs (also called non-product costs) include all other costs incurred by the firm in managing or selling the product. Costs are assembled into meaningful groups called cost pools. Any factor that has the effect of changing the level of total costs is a cost driver. A cost object is any product, service, customer, activity, or organizational unit to which costs are assigned for management purposes. Direct costs can be easily traced to a cost pool or cost object. Indirect costs, on theo ther hand, cannot be traced easily. Assignment is made through the use of cost drivers (via a process known as cost allocation). These cost drivers are often called allocation bases. Cost drivers provide two roles. They assign costs to cost objects, and also explain cost behavior (i.e. how total cost changes as the cost driver changes). There are four types of cost drivers - volume, activity, structural, and executional based cost drivers. Qualitative considerations of cost information include: accuracy and the need to monitor internal accounting controls. Value of cost information should be monitored to ensure that cost to acquire the information does not outweigh the associated benefits. Timeliness often involves sacrificing in the other two areas. To receive additional updates regarding our library please subscribe to our mailing list using the following link: http://rbx.business.rutgers.edu/subscribe.html
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Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu Cost drivers are a key term to represent an activity that drives up costs. There are different cost drivers that can be chosen for different costs, however, there normally is one cost driver than determines the cost better than the others--This can be found by analyzing the r^2 or coefficient of determination number. I provide some examples and go over the basics. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
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