Management Accounting

All you'll ever need to know about standard costing! This is an in-depth summary, suitable for both undergraduate and honours. It provides a detailed background on what standard costing is and how it works, and provides extensive explanations about what variances are, how to calculate them and why they arise. I would recommend reading through the whole document once to gain a solid understanding of the concepts, then revise the section on variances before tests/exams. Good Luck!