Video: Variance Analysis Overview and Objectives

In this lesson, Nick Palazzolo, CPA, breaks down the intricacies of variance analysis with genuine enthusiasm, underlining its importance in business operations. He articulates how identifying the discrepancies between expected and actual results—which may involve anything from net income figures to direct materials and labor costs—can shed light on business performance. Nominalizing the understanding of various variances as “free points” on the exam, Nick promises to simplify and make this concept accessible. He meticulously guides through the method of determining the appropriate variance analysis for key cost drivers and dives deep into analyzing business scenarios. Moreover, his explanation includes tactics for handling variances on simulations and multiple choice questions, ensuring a strategic approach to possibly gaining easy marks.

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Performance Analysis & Cost Accounting
Module: 4 Concepts, 44 Videos
Performance Management Metrics Overview and Objectives
1:43
Introduction to Performance Management Metrics
2:13
Productivity Ratios
4:20
Benchmarking
2:30
Supply Chain Processes
4:59
Theory of Constraints
3:45
Reorder Point
4:40
Costs of Quality
4:54
Balanced Scorecard
10:35
Return on Investment
8:16
Performance Management Formulas
16:35
Supply Chain Management
1:34
Performance Management Metrics Summary
1:00
Performance Management Metrics - Practice Questions
11:59
Variance Analysis Overview and Objectives
2:03
Introduction to Variance Formulas
7:35
Examples of Variance Calculations
16:29
Flexible Budget Variances
2:20
Variance Analysis Summary
1:21
Variance Analysis - Practice Questions
17:10
Cost Accounting Methods Overview and Objectives
1:44
Absorption Costing vs. Variable Costing
7:55
Traditional Costing
5:04
Cost Drivers and Activity Centers - Quick Refresher
1:52
Joint Costing Allocation Methods
3:32
Process Costing
1:39
Job-Order Costing
1:25
Activity-Based Costing
10:18
Joint Cost at NRV and Joint Cost at Split-Off
11:49
Equivalent Units of Production
24:51
Cost Accounting Methods Summary
1:16
Cost Accounting Methods - Practice Questions
12:27
Cost Accounting Fundamentals Overview and Objectives
1:58
Introduction to Cost Accounting Fundamentals
3:37
Cost Accounting Terms and Formulas
6:10
Direct Costs
16:11
Indirect Costs
2:07
Cost Drivers and Activity Centers
7:35
Product vs. Period Costs
2:05
Spoilage
2:00
Relevant Range
3:07
Variable and Fixed Costs
2:24
Cost Accounting Fundamentals Summary
1:21
Cost Accounting Fundamentals - Practice Questions
9:57