Budget vs Actual

Budget vs Actual

(budget-vs-actual)

Overview:

Budget is typically agreed before the start of the financial period which it covers. As the period passes, the actual performance is then compared to the budget as a benchmark. To gain more detail, variance analysis is used which is covered in the course including topics such as standard cost, materials and labour cost and usage.

Learning outcomes:

By completing this course, you will be able to:

  • Understand the concept of a standard cost
  • Be able to describe basic variances including materials and labour cost and usage
  • Understand the concept of more advanced variances such as mix and yield
  • Be able to explain the meaning and use of key variances

 

Authored by: David Halford

Dave Halford qualified with Deloitte in Bristol in 2001. A love of education and personal interaction led him to join the firm that trained him, BPP in Bristol, the following year. Over the last 16 years Dave has worked in a variety of teaching, management and writing roles within BPP, as well as completing a Law Degree via BPP’s Law School.

Dave is currently a Subject Matter Expert for the final admittance exams for CIMA and the ICAEW, as well as all of the law exams across the accounting bodies.

CPD Points: 1

CPD Duration (hours): 1

Access: 12 months from purchase date

Price: £30.00 (excludes VAT)
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