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LRA (JUNE 2015)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA PM Exams › LRA (JUNE 2015)

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by John Moffat.
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  • August 20, 2020 at 4:08 pm #581307
    agnes222
    Member
    • Topics: 45
    • Replies: 17
    • ☆☆

    What are the main steps involved in preparing a zero?based budget?

    1-Identifying previous inefficiencies, using adaptative management processes and avoiding wasteful expenditure in planning.

    2-Recognising different cost behaviour patterns, planning on a rolling basis and ignoring wasteful expenditure.

    3-Analysing the cost of each activity, identifying alternative methods and assessing the consequences of performing the activity at different levels.

    4-Updating the budget continually, setting performance standards and controlling performance monthly with the use of variance analysis.

    sir why is the answer not 1? the correct answer is 3

    August 20, 2020 at 4:54 pm #581313
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    Because the most fundamental idea of zero based budgeting is to consider alternative methods of performing the activity. ‘1’ does not mention this at all.

    Please watch my free lectures for a full explanation.

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