Direct Materials Purchases Budget | Budgets| Budgeting | Accounting for the Entrepreneur | CSEC PoA

In this video I show how to prepare a direct material purchases budget for a three month period under a few different scenarios.

You can use the time stamps below to navigate to different parts of the video:

00:00 - Intro
01:20 - Explanation of the logic/format
06:18 - Example 1 - constant production volume
11:17 - Practice question 1
14:59 - Example 2 - changing production volume
19:53 - Practice question 2
23:21 - Example 3 - changing production volume and material prices
27:34 - Practice question 3
31:50 - Outro

You can view the entire budgets and cash projections playlist using this link
   • Budgets & Cash Projections  

You can view my manufacturing account video using this link:
   • Manufacturing accounts | Basics for CSEC a...  

I don't cover much "theory" in this video as I chose to focus on the preparation of the schedules and some of the "tricks" that can be brought in a question of this sort.

As such, I STRONGLY SUGGEST that you do your own research and compile your own notes on this topic to go along with these examples.

If you find that I'm moving too quickly in this video remember:

you can adjust the playback speed to slow down the video,
you can pause and/or go back over parts as many times as you like... it is a video.

If you have any questions about how I got any of the figures please leave them in the comments below and PLEASE PUT A TIME STAMP (like this 00:00) so I can go to the part of the video you are asking the question about.

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You can BE ANYTHING you want to be,
You can DO ANYTHING you want to do,
IF you have the correct MINDSET,
and you PUT IN THE WORK

Along the way you are bound to have difficulty,
YOU ARE GOING TO MAKE MISTAKES,
and that's ok,
WE ALL DO.

Be sure to ask for help :)
And, be sure to help those who ask you for it.

And, if what you are doing isn't working,
Then you need to try
A
Different
Ap proach
To it

You need to ADApT

Because change is the only constant.

Much love!

#budgeting #directmaterialspurchasesbudget #csecpoa