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- This topic has 5 replies, 2 voices, and was last updated 7 years ago by John Moffat.
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- December 1, 2016 at 8:57 am #352814
Flexible and flexed budget are two different things? Or they both have same meanings
December 1, 2016 at 3:23 pm #352888A flexed budget is when we rewrite the original budget for the actual level of activity.
A flexible budget is a budget prepared in a way that can be easily flexed (i.e. the variable costs are separated out from the fixed costs).
December 2, 2016 at 5:45 am #353042to calculate variances we prepare flexible budget?
December 2, 2016 at 8:11 am #353070No – of course not.
You can be asked to prepare a flexed budget, certainly. But you are also expected to be able to calculate specific variances directly without messing around with a flexed budget first.
You need to watch my free lectures on variances where I explain this.
December 2, 2016 at 8:15 am #353074Okay thank you sir
December 2, 2016 at 8:29 am #353085You are welcome 🙂
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