Budgeting

What is budgeting?

Purpose of budgeting

Sales volume budgets

Production cost budget

Sales revenue budget

Expenditure budgets

Profit budgets

Flexible budgets

Operating budgets

How to decide on a budget

Historical budgeting

Zero-based budgeting

Benefits of zero based budgeting

Limitations of zero based budgeting

Benefits of budgeting

Limitations of budgeting

What is variance analysis?

Variance formula

Favourable variances

Adverse variances

What are the causes of favourable variances?

What are the causes of adverse variances?

External factors

Internal factors

How is variance analysis used?