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Hello Sir ,
I saw in the SBL study guide they mention about the cost and management accounting, could you clarify what exactly I should know from budgeting and variances ( I know the basic variances with their analysis, but Is the mix and yield variances is also examinable ? )Thanks
The relevant syllabus paragraph (G3b) says: Evaluate methods of forecasting, budgeting, standard costing and variance analysis in support of strategic planning and decision making.[3]
The verb is ‘evaluate’ not ‘calculate’. So by far the most likely scenario is that variances would be presented and you have to make use of them or criticise them.
Mix and yield might come up in that context, but I think unlikely.
Regards,
Ken
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