| Using Budgets • The benefits and drawbacks of using budgets • The calculation and interpretation of favourable and adverse variances • Using variance analysis to inform decision making. | Candidates should be familiar with income, expenditure and profit budgets. They will not be required to analyse budgets by price and volume, nor to use flexible budgets. |
Benefits and drawbacks of budgets. Nice link here.
Variance analysis video 1:
Variance analysis video 2:
