Standard Coasting

Standard Costing -
Adverse + Favourable

Advantages of standard costing

Disadvantages of Standard Costing

What is the definition of a budget?

What are 2 characteristics of budgets?

What is an income budget?

What is an expenditure budget?

What is a profit budget?

What are two advantages of budgets?

What are two disadvantages of budgets?

Summarise how budgets are put
together?

What are two reasons
why a firm budgets?

What is a benefit of having a
fixed budget?

What information is needed to
prepare an income budget?

What information is needed to
prepare an expenditure budget?

What is a zero budget?

Why can budgets be hard
to sick to?

Variances

Favourable Variances

Internal causes of Variance

External causes of variances

Qualitative Factors in Investment
Appraisal 1

Qualitative Factors in Investment
Appraisal 2

Net Present Value

Advantages of Net
Present Value

Disadvantages of Net
Present Value

Disadvantages of Payback

Advantages of Payback