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Dear tutor,
Could you please explain the difference between functional budget and rolling budget? I am referring to practice question number 4, the correct answer is functional budget and to me it seems that it is rolling budget, also in the notes it is not explained what is functional budget.
Thank you
AnaFunctional budgets are the separate budgets prepared for each activity, such as the production budget, the labour budget etc.. I cannot understand why you should have thought the answer to this question was a rolling budget.
I explain this in my free lectures working through the lecture notes. It is completely pointless to use the notes without watching the lectures because they are only lecture notes. It is in the lectures that I work through all the examples and explain and expand on the notes. If you are not watching the lectures for any reason then you need to buy a study text from one of the ACCA Approved Publishers and study from there. (And, of course, however you choose to study it is vital that you have a Revision Kit from one of the ACCA Approved Publishers. It is full of past exam and other exam standard questions for practice, and it is essential to practice questions in order to be able to pass the exam.)
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