3.9 Budgets (HL)

Budgets are financial plans that cover specific time periods

Budgeting Keynote 09

Budgets from Hall Jones et al Provides general background on budgets.

Zero-based budgets and benefits & drawbacks Looks in detail at zero budgeting and reviews the advantages and disadvantages of setting budgets.

Cost and Profit Centres

Variance analysis

Variance analysis refers to an analysis of differences between expected or budgeted outcome / amounts / figures (prices, costs, quantities, profit, revenue) and actual outcome / amounts. The analysis examines if the outcome is adverse (A) or favourable (F) and investigates why the differences occurred from the forecasted or budgeted amounts.