AS Business Studies Revision (Unit 2)
- Created by: Laurence
- Created on: 12-12-12 16:31
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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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