Pages in this set

Page 1

Preview of page 1
Unit 2 ­ Managing a business
Finance Revision notes
USING BUDGETS

What You Need To Know For This Topic:
Understand the features, benefits & drawbacks of budgeting
Be able to use variance analysis formula to explain whether adverse or
Page | 1
favourable variance.
Interpret findings of variance analysis

Budget:…

Page 2

Preview of page 2
Unit 2 ­ Managing a business
Finance Revision notes
Using variance analysis to inform decision making
An adverse variance may not be managers fault, maybe due to
unrealistic budget as a result inefficiencies shown in business and
mistakes made, unpredictable external factor e.g. changes in the market,
Page | 2…

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all resources »