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Finance controlling of Material costs

All you need to know about material cost controlling in a manufacturing environment
4.1
4.1/5
(4 reviews)
18 students
Created by

9.4

CourseMarks Score®

10.0

Freshness

8.5

Feedback

9.2

Content

Platform: Udemy
Video: 5h 49m
Language: English
Next start: On Demand

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Detailed Analysis

CourseMarks Score®

9.4 / 10

CourseMarks Score® helps students to find the best classes. We aggregate 18 factors, including freshness, student feedback and content diversity.

Freshness Score

10.0 / 10
This course was last updated on 4/2022.

Course content can become outdated quite quickly. After analysing 71,530 courses, we found that the highest rated courses are updated every year. If a course has not been updated for more than 2 years, you should carefully evaluate the course before enrolling.

Student Feedback

8.5 / 10
We analyzed factors such as the rating (4.1/5) and the ratio between the number of reviews and the number of students, which is a great signal of student commitment.

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Content Score

9.2 / 10
Video Score: 8.4 / 10
The course includes 5h 49m video content. Courses with more videos usually have a higher average rating. We have found that the sweet spot is 16 hours of video, which is long enough to teach a topic comprehensively, but not overwhelming. Courses over 16 hours of video gets the maximum score.
Detail Score: 9.8 / 10

The top online course contains a detailed description of the course, what you will learn and also a detailed description about the instructor.

Extra Content Score: 9.5 / 10

Tests, exercises, articles and other resources help students to better understand and deepen their understanding of the topic.

This course contains:

0 article.
23 resources.
0 exercise.
0 test.

Table of contents

Description

All the material objects that surround us are manufactured at production sites – factories and plants. In these places during the conversion process materials (raw materials, packaging, consumables etc.) are transformed into semi-finished products with the addition of labor, energy and equipment operation, and then into finished products.
In general manufacturing businesses are material-intensive: the share of raw materials in total costs can reach 60-70%. That is why reporting, analysis, planning and control of material costs form an important set of tasks, that is critical for a modern enterprise.
Financial controllers, analysts and production economists are the ones engaged in solving these tasks. Such specialists should have a wide range of skills and competencies, be familiar with variety of accounting systems, understand the scope of all plant departments, its responsibility areas and interrelations.
In this course you will go through the following subject areas:
•Typical configuration of the production site (factory layout)
•Architecture of material module in financial systems: storage locations, material types, material movements, etc.
•Standard/planned prices, principles of its calculation and the impact on the financial result (standard costing methodology)
•Analysis of purchasing activity, what is PPV (purchase price variance)
•Inventory accounting and stock value calculation in accordance with IFRS (IAS 2). The process of stock revaluation
•Analysis inventory turnover, calculation of necessary reserves (write-off provision)
•Types of inventory stock-takes, the role of the financial controller
•Assessment of the production operational efficiency using variance analysis: usage variance, recipe (BOM) variance
Through the course you will live a 4-month business cycle of a confectionery factory. During this time, together with the plant, you will purchase materials, produce semi-finished products and finished goods, perform an annual stock-take, manage slow-moving inventories, analyze production efficiency and, of course, prepare and deeply analyze financial statements related to material costs.
The course is ideal for everyone who works in manufacturing environment – first of all, financial directors and controllers of production sites, as well as anyone who is interested in this professional area. This course is not on accounting, but on controlling – nevertheless, it would be of value for accountants

You will learn

✓ Reporting of material costs (raw materials, packaging, consumables etc.)
✓ Proper inventory valuation according to IAS 2
✓ Operational efficiency analysis (usage variance, recipe variance)
✓ Control over correctness and timeliness of financial postings related to material movements
✓ Materials’ liquidity control and creation of necessary provisions
✓ Understanding of material module architecture in accounting systems: BOMs, storage locations, material types, material movements etc.
✓ Standard costing fundamentals; calculation of planned/standard costs

Requirements

• Financial accounting fundamentals
• Passion for learning and desire to dive deep into manufacturing financials

This course is for

• Finance controllers and CFOs of manufacturing companies and plants
• Finance business-partners and analysts
• Business planners; supply planners
• Material cost accountants
• All who are interested in factory finance

How much does the Finance controlling of Material costs course cost? Is it worth it?

The course costs $14.99. And currently there is a 79% discount on the original price of the course, which was $44.99. So you save $30 if you enroll the course now.

Does the Finance controlling of Material costs course have a money back guarantee or refund policy?

YES, Finance controlling of Material costs has a 30-day money back guarantee. The 30-day refund policy is designed to allow students to study without risk.

Are there any SCHOLARSHIPS for this course?

Currently we could not find a scholarship for the Finance controlling of Material costs course, but there is a $30 discount from the original price ($44.99). So the current price is just $14.99.

Who is the instructor? Is Alexey Leontyev, ACMA, CGMA a SCAM or a TRUSTED instructor?

Alexey Leontyev, ACMA, CGMA has created 5 courses that got 38 reviews which are generally positive. Alexey Leontyev, ACMA, CGMA has taught 194 students and received a 4.7 average review out of 38 reviews. Depending on the information available, Alexey Leontyev, ACMA, CGMA is a TRUSTED instructor.
Finance management
Hello,
I am a finance professional with more than 10 years in financial divisions of large multinationals – Mars, Nestle, Faurecia, Deceuninck
I started as an intern and worked across teams, industries and technologies
Today I am a CFO and share my knowledge and best practices through on-line courses
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
• Более 10 лет в финансовых подразделениях крупных западных компаний – Mars, Nestle, Faurecia, Deceuninck. Прошел путь от стажера до финансового директора
• Выпускник Сертифицированного института специалистов по управленческому учёту (Chartered Institute of Management Accountants, CIMA), Великобритания
• Кандидат экономических наук
• Автор методического пособия «МЭКОМ: игра и не только. Моделирование экономики и менеджмента»
• Многолетний опыт использования инвестиционных продуктов – депозиты, облигации и акции российских и иностранных эмитентов, драгоценные металлы, инвестиции в бизнесы

9.4

CourseMarks Score®

10.0

Freshness

8.5

Feedback

9.2

Content

Platform: Udemy
Video: 5h 49m
Language: English
Next start: On Demand

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