Flexible Budgets and Standard Cost Systems

The Accounting credentials denote earners' competencies including financial statement preparation, project budgeting, and financial forecasting and analysis. Financial professionals are required to understand the impact of financial decisions on the firm’s business and financial prospects and use their skills to perform analysis of past, current, and projected funding and investment alternatives to inform the company’s managerial decision-making process and provide regular financial reports to investors and regulators. Specifically, this badge demonstrates the earner's ability to use flexible budgets to compute standard cost variances for direct materials, direct labor and manufacturing overhead, and analyze product cost variances.