Abstract
When you have finished working through this chapter you should be able to
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Differentiate between ideal standards and ATTAINABLE STANDARDS
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Differentiate between controllable costs and UNCONTROLLABLE COSTS, and illustrate this distinction with examples from different levels of the business organisation
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Define the term variance
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Distinguish between favourable and adverse variances and identify appropriate courses of action to be taken in response to such variances arising
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In the context of an example, carry out a detailed variance analysis, including the calculation and interpretation of variances
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Calculate and make use of a flexible budget
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Design a spreadsheet TEMPLATE for drawing up a flexible budgeted income statement
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© 1996 Ruth A. Schmidt and Helen Wright
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Schmidt, R.A., Wright, H. (1996). Budgetary Control. In: Financial Aspects of Marketing. Palgrave, London. https://doi.org/10.1007/978-1-349-25020-2_20
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DOI: https://doi.org/10.1007/978-1-349-25020-2_20
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-63782-1
Online ISBN: 978-1-349-25020-2
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