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when can a budget revision be allowed and when should it be refused??
what is a flexed budget and when can it be used??
what are the behavioural aspects of budgeting?There is too much in your question to answer here – it is too general and would be like writing a chapter of a text book.
For budget revisions I suggest you read the examiners answer to question 3 of the December 2007 exam.
You really should know what a flexed budget is – it is from the Paper F2 syllabus. It is the budget as adjusted for the actual level of activity, and is used for control purposes (variance analysis is comparing actual results with the flexed budget)
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