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How Budgeting Can Deal Uncertainty

Description

Master ACCA F5: Performance Management (C:Budgeting) Mind Map on How Budgeting Can Deal Uncertainty, created by Shahid Musthafa on 02/11/2013.

Mind Map by Shahid Musthafa, updated more than 1 year ago

	Created by Shahid Musthafa over 10 years ago

Resource summary

How Budgeting Can Deal Uncertainty

Budgeting produces a range of possible outcomes
1. Worst Case
2. Average Case
3. Best Case
Using past Data and forecasting techniques
Reducing Uncertainty using research techniques
1. Focus Groups
2. Desk Research
3. Field Research
4. Mystery Shopping
using Quantitative techniques in management Accounting
1. Sensitivity Analysis
2. Decision Trees
3. Stimulation
4. Expected Value

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