I have done this hundreds of times. But some people say this binding will not last as long, since there is only a single layer of fabric at the edge.
Mine have two layers of fabric at the edge. I trim the batt as shown, right next to the quilt top. If I'm doing a half inch binding, I trim the back at least an inch and a half away from the batt and top edge. Then I mark the back where I want the fold that will be sewn down. Fold the back over on your marked line, and it will be too long. Tuck this extra under the batt, and you have your two layers going over the edge. I have found it usually lays flat with no problem. You may want to trim a little at the corners if they get too bunchy, but this is not that hard to do and looks nice.
PS: I like the way the corners are done here. It makes the corners nice and sharp. I always folded the corner over and then folded the sides in, but often got snub nosed corners.