Budgeting and control (UD)

Objectives and competences: Students will be able to understand the importance of budgeting and control. They will be able to prepare a master budget and variance analysis.

1. Definition of a budgeting process
2. Methods of budgeting
3. Preparation of different types of budgets
4. Preparation of master budget (operating and financial budgets)
5. Implications of budgets for decision making and control
6. Types of responsibility centres and accounting control systems
7. Variance analysis for each responsibility centres