The Business Professor
Product Cost vs Period Cost - Accounting
This video explains the difference between recording costs as product costs versus period costs. These two systems of cost accounting have unique purposes in the managerial accounting system.
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Product Line Analysis in Accounting
Product line analysis is a detailed process employed as part of the managerial accounting process. This video explains what is Product Line Analysis in managerial accounting.
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Product Labeling Laws
In this video, we discuss the major federal acts that regulate the labeling and disclosure requirements for consumer products in the United States. These acts are enforced by various administrative agencies such as the FTC, Consumer...
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Product Development Intellectual Property Considerations
This Video Explains Product Development Intellectual Property Considerations
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Product Costing - Stages of Manufacturing
Product costing changes based upon the stage of manufacturing in which the cost is incurred. This video explains the various stages of manufacturing used in product costing.
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Product Cost Components
The components of product cost include direct and indirect costs, including materials, labor, overhead, and consumption.
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Process Manufacturing Characteristics
Process manufacturing is a form of continuous manufacturing
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Process Management Skills - Managerial Accounting
This video explains how process management takes place in the managerial accounting process. It specifically identifies the importance of accounting information in process management and how this is a core skill of managers.
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Process Costing
Process costing concerns assigning the cost of produciton of a product on a per unit basis to a specific period. There are multiple steps in the process and means of allocating costs.
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Primary Market Research Methods
This video defines what is a Primary Research Method in Marketing.
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Price Corridor Map
Price Corridor of the Mass is a tool managers can use to determine the right price to unlock the mass of target buyers.
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Understanding Revenues and the Revenue Recognition Principle
In this video, the teacher explains what a revenue is and when it can be recognized. He gives three scenarios to illustrate the concept and emphasizes that a revenue is earned only when the product or service is delivered or rendered.
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Understanding Porter's Five Forces for Market Analysis
This video explains Porter's Five Forces framework, which is a tool used to analyze the competitive dynamics of a product or service in a specific market. The five forces include supplier power, buyer power, competitive rivalry, threat...
The Business Professor
Porter's Value Chain
What is Porter's Value Chain? What Is Porter's Value Chain? Porter's Value Chain is a strategic management framework that analyzes a company's activities to identify its competitive advantage. It consists of the primary activities...
The Business Professor
Cost Volume Profit Analysis - Target Profit Analysis in Accounting
Target Profit Analysis is a key assumption when conducting a Cost Volume Profit Analysis. This video explains the relevance of this assumption.
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Synergy
the interaction or cooperation of two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects.
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Standard Product Costs
Standard costs are used to estimate what will be the Cost of Goods Sold or COGS.
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Stability-Based Strategy
As the name implies, a stability business strategy seeks to maintain operations and market size and position. This strategy is characteristic of small risk-averse firms or firms operating in a very precarious market that is comfortable...
The Business Professor
Social Influences Affect Consumer Decisions
Social Influences Affect Consumer Decisions