Flashcards
Budgets
Flashcards do conjunto (12)
- 1—.
- 2Two Main Types of Budgets1. Strategic Budgets
2. Operational Budgets - 3What is a Strategic BudgetStrategic Budget will be produced well in advance of the period of which they relate. They are concerned with the long-term strategy of the organisation
- 4What is a Operational BudgetOperational Budget will be produced for shorter periods of time - typically the next twelve months.
- 5What are Rolling BudgetsRolling Budgets are continually extended into the future as time goes forward.
- 6What are Contingency BudgetsContingency Budgets are designed to allow for unexpected future events and their impact.
- 7Budget CycleThe stages of preparation, approval, implementation and monitoring and evaluation.
- 8Total Variable CostVariable cost per unit x Number of units
- 9Total semi-variable costFixed part of cost + variable cost per unit x number of units
- 10Stepped CostsNormally based on up to a particular volume of units.
- 11The Initial Budgeting Process1. Review the organisation's objectives
2. Review the organisation's strategy for achieving its objectives
3. Identify all of the organisation's current limiting factors
4.Identify the key budget factor
5. Forecast the level of this key factor
6. Build the budgets around this forecast - 12—
Informações
- Descrição
- Highers Accounting FlashCards sobre Budgets, criado por Robin Tooze em 17-01-2023.
- Criado por
- Robin Tooze
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