Cost-volume-profit Analysis (CVP) and Job Costing - Incorporating Breakeven Point, Profit Planning, Sensitivity Analysis, Journal Entries, Alternative Income Statement Format (London)

Course Contents, Concepts and Issues

Cost-Volume-Profit (CVP) Analysis

• A Five-Step Decision-Making Process in Planning and Control Revisited
• Foundational Assumptions in CVP
• Basic Formulae
• CVP: Contribution Margin
• Cost–Volume–Profit Equation
• Breakeven Point
• Breakeven Point, extended: Profit Planning
• CVP: Graphically
• Profit Planning, Illustrated
• CVP and Income Taxes
• Sensitivity Analysis
• Margin of Safety
• Operating Leverage
• Effects of Sales-Mix on CVP
• Alternative Income Statement Formats

Job Costing

• Costing Terminology
• Costing Systems
• Costing Systems Illustrated
• Costing Approaches
• Costing Approaches Summarized
• Seven-Step Job Costing
• Sample Job Cost Document
• Sample Job Cost Source Documents
• Job Costing Overview
• Journal Entries
• Flow of Costs Illustrated
• Illustrated General Ledger in a Job Cost Environment
• Accounting for Overhead
• Three Methods for Adjusting Over/Underapplied Overhead