AS Business Studies Revision (Unit 2)

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  • Created by: Laurence
  • Created on: 12-12-12 16:31

Chapter 1 (Budgets)

A good budget must be:

  • Be consistent with the aims of the business
  • Set challenging but realistic targets
  • Specific, manageable, achievable, realistic and time-based. (SMART)
  • Be monitored at regular intervals

Variance - is the difference between the budgeted figure and the actual outcome. This can be adverse of favourable. It is the process by which


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