January 2013
Intermediate to advanced
544 pages
16h 35m
English
book
Accounting for Managers: Interpreting Accounting Information for Decision-Making, Canadian Edition
by Paul M. Collier, Sandy M. Kizan, Eckhard Schumann
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CHAPTER 15
Budgetary Control
LEARNING OBJECTIVES
After reading this chapter, you should be able to answer the following questions:
What is budgetary control and why it is important in the overall performance management process?
How is a flexible budget different from a master budget?
What are the key variances that companies identify when analyzing flexible budget results?
How are variances interpreted?
How does a company utilize variance information to provide better cost control?
In this chapter, we describe how budgetary control takes place in organizations through the techniques of flexible budgets and variance analysis. A detailed example of variance analysis is provided that demonstrates the key variances which organizations monitor. The chapter also considers how cost control can be exercised in practice.
What Is Budgetary Control?
Budgetary control is concerned with ensuring that actual financial results are in line with targets. An important part of this feedback process is ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.