From the course: Finance and Accounting Tips
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Standards and variances
From the course: Finance and Accounting Tips
Standards and variances
- Alright, I had my first root canal a couple of months ago. It turns out it didn't hurt as much as I thought it would. Thank heavens for medication. But as I was going through this process, I asked the dentist, actually, dentists who specialize in root canals are called endodontists, and the dental assistant a bunch of questions relating to root canals. How long does a root canal take? Do the costs of materials vary from root canal to root canal? Do follow up procedures vary a lot from patient to patient? I guess I'm just the curious type. What I found was that my dentist, actually, not my regular dentist, this dentist only does root canals, can do 15 root canals in an eight-hour day. And each root canal is budgeted at an hour per root canal. So how can a dentist do 15 root canals in an eight-hour day if each takes an hour? Well, as I saw with my own eyes, they bounce from patient to patient. For example, they numb your gums and while waiting for the numbing agent to take effect…
Contents
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Overview of the balance sheet6m 36s
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Limitations of the balance sheet5m 33s
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Accrual accounting3m 10s
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Income statement4m 36s
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How to common-size the income statement3m 16s
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Financial statement ratios4m 10s
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The DuPont framework and return on equity4m 35s
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Debits and credits5m 53s
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Understand a company's operating cycle5m 9s
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How to compute days' purchases in payables3m 41s
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The current ratio and liquidity4m 4s
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Leverage ratios6m 49s
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When to capitalize or expense costs4m 48s
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Timing of revenue recognition6m 57s
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The statement of cash flows5m 46s
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Earnings management6m 20s
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What is depreciation?4m 19s
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Forecasting financial statements5m 2s
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Dividends and stock buybacks5m 46s
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Loan payments: Understand interest and principal4m 40s
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Price maker or price taker and the impact of overhead costs4m
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Activity-based costing (ABC) and overhead4m 6s
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Cost-volume-profit analysis4m 48s
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Contribution margin and the sales mix of products4m 11s
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Save early, save often4m 12s
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Take the 401(k) match4m 27s
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Making extra payments3m 26s
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Low introductory interest rates4m 14s
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LIFO, FIFO, and FISH4m 31s
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Different depreciation methods3m 38s
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Capital asset pricing model (CAPM)5m 22s
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Sarbanes-Oxley and internal controls3m 55s
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What is a derivative?5m 1s
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Accounting for gift cards3m 57s
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What is beta?5m 52s
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What is an IPO?5m 8s
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Components of a compensation package3m 11s
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Impairment4m 10s
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Earnings per share4m 7s
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Calculate a car payment4m 52s
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Deferred taxes6m
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Foreign currency transactions5m 13s
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What do auditors do?5m 48s
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Steps in creating a personal budget4m 41s
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Pensions3m 53s
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Obtaining financial information4m 46s
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Internal controls6m 14s
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Standards and variances3m 30s
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What is corporate governance?4m 7s
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