Cost Accounting Standard Costing Techniques (for Prof. exam)

Ca Raja Natarajan, Chartered Accountant

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14 Videos (57m)
    • Introduction

    • Standard Cost Definition

    • Standard Costing Definition

    • Setting up of Standard Cost

    • Physical Standards

    • Material Quantity Standards

    • Labour Time Standards

    • Overhead Standards

    • Problems in setting Physical Standards

    • Types of Standards

    • Need for Standard Costs

    • Process of Standard Costing

    • Types of Variances

    • Classification of Variances


About This Class

Welcome to Cost Accounting Standard Costing Techniques.

This course is only for Costing, Accounting and Finance Students and Professionals.

In this course, you will be able to understand

a) What is Standard Costing

b) Why Standard Costing

c) Setting up of Standard Cost

d) Material Quantity Standards

e) Labour Time Standards

f) Overheads Time / Quantity Standards

g) Problems faced while setting physical standards

h) Types of Standards (covering Ideal Standards, Normal Standards, Basic Standards and Current Standards)

i) Need for Standard Costs

j) The Process of Standard Costing

k) Types of Variances (covers Controllable and Un-controllable Variances, Favourable and Adverse Variance)

l) Classification of Variance.

followed by Case Studies.

Standard Costing is a method of Costing, which measure the performance or an activity by comparing actual cost with standard cost, analyse the variance and reporting of variances for investigation and appropriate action.

This course is structured in self paced learning style.

Video lectures are used for presenting the course content.

This is an academic oriented course to equip you for the examinations.

This course will go deep in to the concepts followed by case studies.

Take this course, if you want to gain control on the topic Standard Costing.






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Ca Raja Natarajan

Chartered Accountant

I am a Chartered Accountant with tonnes of passion for teaching.

I teach Financial Management for Chartered Accountancy and Cost and Management Accountancy students in Ernakulam,India. and I teach 100+ Finance, Accounts, Costing, Banking, Credit Analysis, Statistics, etc. in Skillshare.  

I also hold

  1. Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune
  2. Bachelors in Commerce, from Loyola College, Chennai.

I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice.

During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in

a) Financial Analysis

b) Risk Assessment

c) Viability Study

d) Evaluating business models

e) Project Finance

f) Working Capital Management, etc.

I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like

a) Project Finance

b) Credit Risk Assessment

c) Entrepreneurship Development

d) Finance for Non Finance Executives

e) Burning Desire for Entrepreneurship

I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.

Entrepreneurship Business Accounting