Business - Using Budgets

  • Created by: Nilgun
  • Created on: 23-10-11 18:50

Key Terms:

  • Adverse Variance - this occurs when the business's actual results are worse than those anticipated and planned for in the budget. These have the result of reducing final profits in the short term
  • Budget - A financial plan drawn up to outline the future operations of the business. Budgets are used to set targets, monitor performance and control operations
  • Budgetary Control - a system of


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