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BUDGETING

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › BUDGETING

  • This topic has 3 replies, 3 voices, and was last updated 11 months ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • July 25, 2021 at 9:48 pm #629413
    Rav42017@
    • Topics: 1
    • Replies: 0
    • ☆

    Good day Sir,
    Please explain the difference between fixed and flexible budgets, and state when each should be used to control cost.

    Thank you

    July 26, 2021 at 8:09 am #629445
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49595
    • ☆☆☆☆☆

    The fixed budget is the original budget and is used for planning.

    The flexed budget is the budget rewritten for the actual level of activity and is used for comparison with the actual results in order to control costs.

    This is all explained in my free lectures on budgeting and on variance analysis. The lectures are a complete free course for Paper MA and cover everything needed to be able to pass the exam well 🙂

    July 30, 2021 at 3:25 am #629807
    johnbriane
    • Topics: 146
    • Replies: 147
    • ☆☆☆

    How will the fixed budget aid is in planning sir

    Can you please give an example please

    July 30, 2021 at 10:06 am #629838
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49595
    • ☆☆☆☆☆

    Budgets are plans, and I give examples in my free lectures on budgeting. For example, the raw materials budget is a plan for how much material they will need to purchase.

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