My oh my, it is amazing how much you can understand from the organized structure you used... In class this looks like scribble scrabble all over a white board.
TONY THANK YOU !!!! I HAVE A COMPREHENSIVE PROBLEM DUE FOR ACCOUNTING CLASS (WHICH IM FAILING) AND THIS HELPED ME SOLVE PART OF IT!!!!!! PLEASE KEEP MAKING THESE
You are a life saver I was completely clueless on this topic in school....you make learning interesting and your not so boring as my accounting teacher lol....thank you very muchhhh !!!
amazing, I have my finals tomorrow, and I have no clue what so ever on managerial accounts. do no get my teacher. I have been watching those videos since morning and I am very pleased.
Awesome videos, Tony. Thank you SO much for sharing these with everyone. I do have a question, though. It seems much easier, when figuring out the total required purchase amount, to simply take the budgeted production (in kg), subtract the beginning inventory for the first month of the quarter, and then add the required ending inventory for the end of the quarter. What's the advantage of going through each month individually if all the totals in the monthly columns add up to the total required purchases? The same thing seems to be true in the production budget, too. Budgeted Sales - Desired Ending Inv. @ End of quarter + Beginning Inv. @ beginning of quarter = Required Production.
crazycarlsju Are you a fellow Carl's Junior fan? Anyway the reason one might do it monthly is their might be problems of stockouts in an individual month, also if you were in charge of making orders, you may not want to order inventory all at once at the beginning of the quarter, you would likely want to make smaller more frequent orders (if possible). So monthly means we'd be less likely to run out of or overstock our raw materials. (That's my opinion anyway!)
Thank you soooooo much for helping me to FINALLY understand budgets. I have been struggling for days (wish i had found your video earlier.) do you have any videos on cvp (cost volume and production) and eoq. God bless Angela (south africa)
For each video give a list of the series somewhere so that the student can know which position they are, where they should be coming from and where you intend to take them.
+Juliett sstyle Same type of calculation...I suspect you wouldn't need so many columns, if I just had one year data, I would just do it one "for the year" column. Difficult for me to be sure without seeing the full question (please don't post the full question!)
This series is probably the simplest way to explain how to produce a Master Budget. My only question is how can you derive Beginning Inventory (for Jan) if you were not given 10,800?
+Mike Jessen So it really depends on the question. You may need to calculate it based on what you expected to have in the previous December 31, or it may be given.
Thanks for the response! I saw my mistake. While trying to apply your example (and formulaic approach), I didn't have to go from $ to units to kg. I only had to multiply (in my problem) the units by selling price. When I applied your formula--did not multiply expected sales units by a rate--I arrived at the correct answer. I incorrectly thought my issue was merely Beginning Inventory. Thank you!! Your videos helped me prepare for BEC last Friday. Fingers crossed I passed.
If we are not given the desired inventory for March, how can we calculate that. I have a similar problem I am working with but they don't give this piece of information. Instead they refer to it as "assumed"
Hi there sir, i just wanted to know if there is there a way that you could find out the desired ending inventory without them giving the percentage of the next month's production needs?... Im stuck on a question that i have from my textbook (Cornerstone of cost accounting)
You need to think of the quarter as a whole. It lasts from Jan - March. So when is the beginning of the quarter? It's January 1. So our beginning inventory for the quarter will be the same as our beginning inventory for January, not March.
in my accounting class we are covering 9 chapters. In your slides i am missing 2 chapters ( i think). Chapter 7 - Segment Reporting (unless those are the Process Costing videos?) and Chapter 9 - Performance Measurement in Decentralized Organizations. I also noticed that some of your topics are titled differently than how it is in my book, so i was wondering if i missed out on those 2 chapters accidentally, or do you not have those 2 topics filmed? Thank you! You're awesome :)
***** Thanks for your comment - I have no videos on Segment Reporting. If you google my name and "Balanced Scorecard", you'll find some videos that should relate to your "Performance Measurement" chapter (I would guess!) Good luck!!
I have an assignment to draft a materials and supplies budget. I'm stuck What does all of this entail. ?Please help! Thank you! The class is project procurement
That is tricky of you to do that, yet with standard English rules you should keep all numbers entered into a sentence the same. I.E. 300 dogs were found at the junk yard and we took all 300 to the pound. Three hundred dogs were found at the junk yard and we took all three hundred to the pound. Why try to trick them?
I learn more in your 15min videos than in 3h classes! Thank you very much Mr. Bell!
franki2808 Thanks :)
Wish I had this guy as a accounting professor instead of my current one. He actually teaches.
Logan schultz Thanks!
My oh my, it is amazing how much you can understand from the organized structure you used... In class this looks like scribble scrabble all over a white board.
you have no idea how much your videos helps! keep it up and god bless you
wouldn't have survived my cost accounting course if it wasn't for your videos! thank you !!
Thanks!!
You are a lifesaver! I did not understand my textbook. This was clear! Thank you.
+dawn haynes Thanks!!
I totally agree with these comments below. You're an AWESOME teacher...Thank you!
You have no idea how much you have helped me through managerial accounting, I take classes online and you sir, are awesome!
TONY THANK YOU !!!! I HAVE A COMPREHENSIVE PROBLEM DUE FOR ACCOUNTING CLASS (WHICH IM FAILING) AND THIS HELPED ME SOLVE PART OF IT!!!!!! PLEASE KEEP MAKING THESE
You brought so much clarity to the topic. Thanks.
Thank you so much! you're SO much better than my professor... learned more from your 10 min videos than my 4 hour lectures
Wow!
Your teaching skill is awesome👌
Thanks a lot🙏
No worries! I appreciate your interest!!
You are a life saver I was completely clueless on this topic in school....you make learning interesting and your not so boring as my accounting teacher lol....thank you very muchhhh !!!
Mickron Stephenz Thanks!
Tony + Bell = Go giver
Thank you!
Thanks for all of your positive comments!
You actually made me get by in uni without attending classes
you are my hero
this is my first ever comment on utube
Hold proud!!
Healthy Body And Mind Thanks!
Thank you very much. You are doing great things! You are making impact into Global Knowledge!
Ольга Сафонова Thanks!!
This video has really helped me solve my assignment. thanks
This video saved my life - thank you
Thanks so much...I say Amen to all the comments!
Deborah james Thanks Deborah!
Thanks Tony. You have helped through a few assignments in my Cost Management class.
+sc29841 Thanks!
amazing, I have my finals tomorrow, and I have no clue what so ever on managerial accounts. do no get my teacher. I have been watching those videos since morning and I am very pleased.
Thanks so much - good luck on your final!!
Thank for the video! :) Really helped me understand the production budget.
Jenna Schultz Thanks!!
Your videos saved my life. :") Thanks a million!
+Kagiso Phala Thanks, and I'm happy you're alive!
Thank you. This helps fill in the blanks for me for my online class.
Sandra Suarez Thanks~!!~!
Thanks for the comment :) She's almost 5 months... :D
Thank you professor, I learn more in this video❤❤❤
5 hours before exam and this is a lifesaver
Thanks a lot for helping me understand all about budgets!
You're welcome - best of luck!
videos really help... glad u chose to make these instead of sitting on steam n playing TF2 or something dumb
TF2!?!?? No way...I play Starcraft!
Tony Bell,
Thank you! You are so helpful!
Very helpful! Thank you for creating this video
I am taking COMM 210 management accounting, helped me a lot....... thank you so much, you should be professor teaching in school
Jie Jin Thanks - I teach at Thompson Rivers University :)
***** Really? I am taking class at Saskatchewan University
Life saver 👍🏼thank you
This really helped me for cost accounting 2. Thank you!
Renato Pasqualini Thank you! Glad the videos are helping :)
Awesome videos, Tony. Thank you SO much for sharing these with everyone.
I do have a question, though. It seems much easier, when figuring out the total required purchase amount, to simply take the budgeted production (in kg), subtract the beginning inventory for the first month of the quarter, and then add the required ending inventory for the end of the quarter. What's the advantage of going through each month individually if all the totals in the monthly columns add up to the total required purchases?
The same thing seems to be true in the production budget, too. Budgeted Sales - Desired Ending Inv. @ End of quarter + Beginning Inv. @ beginning of quarter = Required Production.
crazycarlsju Are you a fellow Carl's Junior fan? Anyway the reason one might do it monthly is their might be problems of stockouts in an individual month, also if you were in charge of making orders, you may not want to order inventory all at once at the beginning of the quarter, you would likely want to make smaller more frequent orders (if possible). So monthly means we'd be less likely to run out of or overstock our raw materials. (That's my opinion anyway!)
Awesome video. Thanks.
Thanks!!
Thank you so much for these videos. I wanna know if you have some videos of Incremental analysis ?
I do have some...they're called "relevant cost" decisions...if you google my name, and relevant costs, you'll find what you're looking for - I think.
Thank you soooooo much for helping me to FINALLY understand budgets. I have been struggling for days (wish i had found your video earlier.) do you have any videos on cvp (cost volume and production) and eoq.
God bless
Angela
(south africa)
For each video give a list of the series somewhere so that the student can know which position they are, where they should be coming from and where you intend to take them.
Thanks for saving my day :P
well explained sir. Thank you
Thank you Tony Bell. What if desired inventory is for the end of the year. How would that be calculated?
+Juliett sstyle Same type of calculation...I suspect you wouldn't need so many columns, if I just had one year data, I would just do it one "for the year" column. Difficult for me to be sure without seeing the full question (please don't post the full question!)
Thanks heaps, helped me a lot
Thank you :)
I see you have steam there, wonder what games you playing haha.
Thanks for these great videos, really helped!
silviu966 Thanks :) I'm playing The Talos Principle right now....and lots of Hearthstone (but that's not on Steam...)
ah I'm playing counter strike global offensive on steam :P
This series is probably the simplest way to explain how to produce a Master Budget. My only question is how can you derive Beginning Inventory (for Jan) if you were not given 10,800?
+Mike Jessen So it really depends on the question. You may need to calculate it based on what you expected to have in the previous December 31, or it may be given.
Thanks for the response! I saw my mistake. While trying to apply your example (and formulaic approach), I didn't have to go from $ to units to kg. I only had to multiply (in my problem) the units by selling price. When I applied your formula--did not multiply expected sales units by a rate--I arrived at the correct answer. I incorrectly thought my issue was merely Beginning Inventory. Thank you!! Your videos helped me prepare for BEC last Friday. Fingers crossed I passed.
Mr. Bell, do you have a video for the preparation of a Schedule of Cash Disbursements for Material Purchases?
I don't have that in a video. It's actually VERY similar to a Cash Receipts budget...just read carefully :)
YOU DA REAL MVP
josephthew1 I agree.
What to do when beginning inventory isnt given to you ?
thanks a lot u really helped me
I have an assignment due and was wondering how would you do a Purchases Payment Budget? please help!
If we are not given the desired inventory for March, how can we calculate that. I have a similar problem I am working with but they don't give this piece of information. Instead they refer to it as "assumed"
Hi there sir, i just wanted to know if there is there a way that you could find out the desired ending inventory without them giving the percentage of the next month's production needs?... Im stuck on a question that i have from my textbook (Cornerstone of cost accounting)
It would have to be given to you in some way. I'm not sure! Sorry!!
For the beginning inventory at the end of the quarter, why did you subtract 10 800 and not 11 160?
You need to think of the quarter as a whole. It lasts from Jan - March.
So when is the beginning of the quarter? It's January 1. So our beginning inventory for the quarter will be the same as our beginning inventory for January, not March.
in my accounting class we are covering 9 chapters. In your slides i am missing 2 chapters ( i think). Chapter 7 - Segment Reporting (unless those are the Process Costing videos?) and Chapter 9 - Performance Measurement in Decentralized Organizations. I also noticed that some of your topics are titled differently than how it is in my book, so i was wondering if i missed out on those 2 chapters accidentally, or do you not have those 2 topics filmed? Thank you! You're awesome :)
***** Thanks for your comment - I have no videos on Segment Reporting. If you google my name and "Balanced Scorecard", you'll find some videos that should relate to your "Performance Measurement" chapter (I would guess!) Good luck!!
Thank you!!
I have an assignment to draft a materials and supplies budget. I'm stuck What does all of this entail. ?Please help! Thank you! The class is project procurement
+Vanessa Klinger Sorry, I'm not able to help beyond the videos I've posted here.
what of the raw materials budget, please help
Is direct material budget is the same as materials purchase budget?
Emelio Ellis I would think so, yes!
I see where you have provided for this, sorry for my previous comment.
I'm shrinkinnnnnngggggg.........
CVP - YES~! EOQ - No :(
If you google my name and CVP, you will find my CVP videos.
Thumbs up for Steam
Hahahaha I like how he has steam running. Just gonna teach these youtube folks before whooping some ass in Counter Strike.
سبحان الله وبحمده، سبحان الله العظيم.
How do I get the cost per kg?
Luis Timana It's given in the question.
What if it's not
I LOVE YOU
realy thanks alot....it helps alot for my revision....
Thanks!
Tony Bell a gamer! (Steam window at the bottom - what do you play? Please don't say some accounting game...)
Fave game of the moment: Luftrausers. Also playing too much Hearthstone. How about you?
***** Dota2, left4dead, borderlands, call of duty, battlefield... too much gaming, not enough studying for managerial accounting.
haha you had steam opened :)
FryCalamari lol - you caught me. I wonder what I was playing - this is definitely not a gaming PC.
That is tricky of you to do that, yet with standard English rules you should keep all numbers entered into a sentence the same. I.E. 300 dogs were found at the junk yard and we took all 300 to the pound. Three hundred dogs were found at the junk yard and we took all three hundred to the pound. Why try to trick them?
Thanks!!