I literally have my exam tomorrow and covered a considerable portion of syllabus by just going through your videos. Thank you for sharing. You're the best!
I talked to myself. I will learn 1 video at a time, but now I can’t stop watching your video. It’s interesting like watching favorite movies. Thank you so much.
I understood everything within minutes! Saved me hours trying to comprehend my textbooks and online lecturer. I have an exam on Tuesday and you sir, are a life saver!
These videos are such a huge resource for me in my accounting courses! I stared at the same problems for hours and watched your videos on variances twice and was able to get it. You explain it so simply.
This man just covered my whole Standard Costing Lecture in less than an hour and 30 minutes that we take 2 weeks to study at my varsity and I have never been confident about standard costing as I have ever been since doing it for the past 4 years. Thank you very much Edspira
Thank you for getting me through accounting. All of your videos are so informative and understandable. I graduate in 2 days and I cant explain over the years in business school how much they've really helped me. Sincerely, thank you.
Man! really thank you for these videos you're making. I'm an MBA student. I watch almost all your fantastic videos & I benefited alooooot of them. I like the rational and logic behind the way you explain concepts. Also, I always recommend your videos to my classmates cuz honestly speaking, for multiple times (if not all the times) your concise explanations are way better than what my respectful professor does in the class. Thank you again.
This video is excellent. Thank you for sharing, you have brilliant teaching skills and so easy to understand. This is helping me more than all my course information put together. Thank you!
Thank you for making this so simple! I have watched videos provided by my college and read textbook explanations but was so confused... until this video. Feel like a pro now! :)
Your videos are so EASY to comprehend! Thank you for using laymans terms and real language. At 9:24 I'm beginning to think of the woodchuck chucking wood! (how much wood would we use if we could, would use wood...)
+Chioma o It was my pleasure. Thank you for the kind words- I'm glad you found the videos useful. I hope you get a great score on your final exam and have a fun-filled summer! Best wishes
Thanks for your videos. I started watching your channel to improve my English and consider that it's very helpful. When I was studying this kind of analysis called chain substitution method. Maybe it's not accurate translation. Let me not agree with this video and ask you a question: why do you make calculations with 950? If company produce tables from year to year and they know how much it takes wood to make 1 table (8 pounds) so why did it was bought so much wood? I assure if firm specializes in wood manufacturing, they should keep some would in the stock for future orders. So if we perform variance analysis, we must analyze current expenses for production for certain period, i.e. how much wood, labor, etc. we spend to 105 tables (875 pounds). Surplus will be used later. If we calculate cash flow we use 950.
You have explained the Material Variance very well. Thanks alot for Such a useful video. I have a Question. Why Standard Price is used to calculate the Quantity Variance and why actual price is not used? Thanks in advance.
The actual price is affected by how good the purchasing manager is at getting a good deal from the supplier. Thus, we use the standard price in this case because we solely want to focus on determining how efficient the company was at using direct materials
Nuanced explanation on direct materials variance analysis, includes the case where Actual Quantity (Purchased) != Actual Quantity (Consumed), where the calculation of Total Variance would not make sense.
Hello sir, what if the question give us a beginning inventory? With a different price than the purchased materials, How do we determine the AQ and AP? Thank you in advance
Hello! what is the actual quantity purchased is the same as actual quantity used. does it affect SQ? Wouldnt there be no variance since there is no difference in used and purchased?
+Dianelis Aballe Yes, you are right. Variance, simply put, is the difference between the standard vs. Actuals. So if it is the same, then no variance :)
These videos are such a huge resource for me in my accounting courses! I stared at the same problems for hours and watched your videos on variances twice and was able to get it. You explain it so simply.
Better than all my masters-level profs, and my textbooks aren't close to as understandable. YOU THE BEST.
Thank you for the kind words!
I literally have my exam tomorrow and covered a considerable portion of syllabus by just going through your videos. Thank you for sharing. You're the best!
World’s best accounting teacher👏
I don’t have words to put in words for how grateful I am being able to learn from you, thank you so much god bless you!!🙏
Don’t know why I’m paying so much for someone who teaches this in a way that is impossible to understand. You’re awesome! Thanks so much.
I appreciate that!
Amazing video. Incredibly comprehensive. It's shocking to see how superior a TH-cam video can be compared to college education.
I talked to myself. I will learn 1 video at a time, but now I can’t stop watching your video. It’s interesting like watching favorite movies. Thank you so much.
How is this content free?!!! Thank you so much. With love from South Africa!! You inspired me to work on becoming an Accountant.
I'm so happy to hear that! I hope you have a great career!
I understood everything within minutes! Saved me hours trying to comprehend my textbooks and online lecturer. I have an exam on Tuesday and you sir, are a life saver!
These videos are such a huge resource for me in my accounting courses! I stared at the same problems for hours and watched your videos on variances twice and was able to get it. You explain it so simply.
These videos were helpful. Please don't stop making them.
+tuyet mai Thank you for the kind words! I plan to release some new videos very soon :) Best wishes
Seriously these videos are saving my CMA exam. Thank you so much!!!
Also, wish me luck!
Good luck! I hope you do outstanding!
Studying for the CMA exam and you really brought this section home for me. thank you
Thank you sir! You are a good example of what humanity is.
Wow, thank you!
This man just covered my whole Standard Costing Lecture in less than an hour and 30 minutes that we take 2 weeks to study at my varsity and I have never been confident about standard costing as I have ever been since doing it for the past 4 years. Thank you very much Edspira
My Dr. prof repeated the textbook made me feel like I am in nowhere.
15' clear me up. I am your big FAN. Thank you.
Thank you! I have my CPA exam this week and you just saved me so much time.
Best of luck!
Thank you for getting me through accounting. All of your videos are so informative and understandable. I graduate in 2 days and I cant explain over the years in business school how much they've really helped me. Sincerely, thank you.
I'm sorry but you've managed to make the most complicated lecture I'd ever been through, into the most simple calculation
THANKS!
Nicely presented and explained, and so simple to understand! Thanks for taking the time to produce this video.
You're the best teacher I've ever heard🙌🏽
Agreed! WAY better than anything I learned in class or from trying to 'teach' myself from the text. Thank you SO much!
Thank you so much, none of my text books explain this clearly. This is very clear and easy to follow.
I wished I found this earlier, was studying for my exam tomorrow and this is by far the best explanation I have ever heard. YOU ARE AMAZING!
Thank you for the kind words. I hope you did well on your exam!
Man! really thank you for these videos you're making. I'm an MBA student. I watch almost all your fantastic videos & I benefited alooooot of them. I like the rational and logic behind the way you explain concepts. Also, I always recommend your videos to my classmates cuz honestly speaking, for multiple times (if not all the times) your concise explanations are way better than what my respectful professor does in the class. Thank you again.
This video is excellent. Thank you for sharing, you have brilliant teaching skills and so easy to understand. This is helping me more than all my course information put together. Thank you!
Thank you for such kind words!
Just an FYI these videos helped immensely for my CPA; MY CPA! Thanks man!
YOU ARE AMAZING 🤧🤧🤧 LEARNED A LOT FROM YOU SIR!
Thank you for making this so simple! I have watched videos provided by my college and read textbook explanations but was so confused... until this video. Feel like a pro now! :)
this is soooooo clear, just get over it in ten minutes...awesome:)
Great sessions... Even college classes were not close to this... Thanks for wonderful work & effort !1
Glad you like them!
@@Edspira Keep up the good work !!
Your videos are so EASY to comprehend! Thank you for using laymans terms and real language. At 9:24 I'm beginning to think of the woodchuck chucking wood! (how much wood would we use if we could, would use wood...)
I did the same thing! lol
I wish I would have came across this earlier! I finally understand where I was going wrong. Thanks alot!
Saving lives, one formula at a time!
Thanks!
Thank you so much for your support!
can't thank you enough the video is great and content specific and to the point!!!
Better than my CPA review. Lol. Thank you!!!!
Thanks this really clarified my instructor's lecture
Excellent!
Thank you for us .. my instructor prefers us to use formulas and I can’t remember them . I prefer this column way you’ve illustrated
YOU ARE LITERALLY THE BOMB
THOUGHT ID NEVER UNDERSTAND THIS BEFORE MY EXAM IN 3 DAYS
LOVE FROM THE UK ;) THANK YOU SOO MUCH
+Chioma o It was my pleasure. Thank you for the kind words- I'm glad you found the videos useful. I hope you get a great score on your final exam and have a fun-filled summer! Best wishes
am from medical background but this make me understand better,thank u
Great explination, of a valuable tool. Thanks for your efforts!
Thanks!
You are beyond great, Thank you!
Wow, thank you!
I just paused the video halfway to say THANK YOU!
Thank you for the kind words my friend!
Thank youuu. Very well explained... 😊
thanks..very straightforward and understanding.
Wow this is explained amazingly well. Thankyou!
Thanks for your videos. I started watching your channel to improve my English and consider that it's very helpful.
When I was studying this kind of analysis called chain substitution method. Maybe it's not accurate translation.
Let me not agree with this video and ask you a question: why do you make calculations with 950? If company produce tables from year to year and they know how much it takes wood to make 1 table (8 pounds) so why did it was bought so much wood?
I assure if firm specializes in wood manufacturing, they should keep some would in the stock for future orders.
So if we perform variance analysis, we must analyze current expenses for production for certain period, i.e. how much wood, labor, etc. we spend to 105 tables (875 pounds). Surplus will be used later.
If we calculate cash flow we use 950.
You are absolutely correct! I note this mistake!
Another terrific video. Thank you!!!!
Thanks Scott!
You are absolutely amazing! Thank you so much 😭
Thanks for the clarity
You have explained the Material Variance very well. Thanks alot for Such a useful video.
I have a Question. Why Standard Price is used to calculate the Quantity Variance and why actual price is not used?
Thanks in advance.
The actual price is affected by how good the purchasing manager is at getting a good deal from the supplier. Thus, we use the standard price in this case because we solely want to focus on determining how efficient the company was at using direct materials
thanks alot for your kind reply.
You are amazing! thank you so much! very grateful!
hello can you please drop a link for the sales mix variance im not able to find the video
Not sure I have produced that video, I'll try to get to it later this summer or fall
Helpful video. Thanks.
you are the best ❤keep going
Thank you!
Hi Sir, if we were to calculate the closing inventory value, what price/unit would we use? Standard or Actual?
You are a legend
you are amazing my friend..
+mulugeta bekele Thank you!
you saved my life!
thanks you helped me get an A
Hi, I'm just wondering why it doesnt work when you do AP x SQ in the middle - why does it have to be AQ x SP?
Nuanced explanation on direct materials variance analysis, includes the case where Actual Quantity (Purchased) != Actual Quantity (Consumed), where the calculation of Total Variance would not make sense.
You are absolutely correct! I noted this mistake!
have you not made a video on return on assets? i cant find it
This guy is too damn good ,
Hello sir, what if the question give us a beginning inventory? With a different price than the purchased materials, How do we determine the AQ and AP? Thank you in advance
Saviour!, great vids
Legend 🙏🏾 thank u
Happy to help!
Can the quantity variance also be identified as the direct material usage variance?
Where do you lecture?
you're the fucking man... have a final tomorrow and this really cleared everything up. THANK YOU!!
Awesome! I hope you aced that exam. Take care and have a great summer!
Thank you very much
Is quantity variance the same as efficiency variance?
THANK YOU FOR THE VIDEOS!!!
hmmm my text book does this with 4 columns, we're missing our flexible budget between aqXsp and sqXsp
solid concepts!!
Why we use (AP-SP)AQ to compute price variance instead of (AP-SP)SQ??
Great Job. Thanx alot
great stuff
why do we use standard price instead of actual price in determining direct materials usage variance?
The best👍
you are the best
hi would the answer be in negative for price variance if its favourable, thank you in advance to whomever who replies to this comment
can we use "adverse" rather than "unfavourable"?
Thank you Sir
THANK YOU
thanks it helps a lot.
Would appreciate if you changed the color of the paint next time. Otherwise loved your tutorial.
Thank you!
the best
Thanks Kostas!
👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍
respex homie
Hello! what is the actual quantity purchased is the same as actual quantity used. does it affect SQ? Wouldnt there be no variance since there is no difference in used and purchased?
+Dianelis Aballe Yes, you are right. Variance, simply put, is the difference between the standard vs. Actuals. So if it is the same, then no variance :)
These videos are such a huge resource for me in my accounting courses! I stared at the same problems for hours and watched your videos on variances twice and was able to get it. You explain it so simply.
Thank you! I'm glad you're learning and hope you do well on your exams!
Thank you!