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Level 3 Diploma in Business Management

Budgeting Framework and Subsidiary Budgets

BM305 · Finance in Business — Week 7 of 16

CourseBM305
Week7 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Budgeting Framework and Subsidiary Budgets

  1. Role of budgeting in planning and control
  2. The master budget hierarchy
  3. Preparing sales and production subsidiary budgets
  4. Cash budget preparation
  5. The Master Budget
  6. Sales Budget | Production Budget | Raw Material Budget | Labor Budget | Budget Formats | CMA | ACCA
  7. The Cash Budget

What you will be able to do

  • 3.2 Explain how budgeting is used for financial planning and control.
  • 4.3 Prepare accurate and subsidiary budgets.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: explain how budgeting is used for financial planning and control.

Study materials

Videos

  • The Master Budget · YouTube · Edspira · 11 min · for registered students
  • Sales Budget | Production Budget | Raw Material Budget | Labor Budget | Budget Formats | CMA | ACCA · YouTube · Commerce Specialist · 17 min · for registered students
  • The Cash Budget · YouTube · Edspira · 12 min · for registered students

Further resources

  • Principles of Accounting, Volume 2: Managerial Accounting, ch. 7: Budgeting · PDF · OpenStax, textbook chapter; pp. 327–376 · for registered students
  • Managerial Accounting, ch. 9: How Are Operating Budgets Created? · PDF · Saylor Academy, textbook chapter; pp. 541–618 · for registered students
  • Thriving Through Seasonal Cash Flow Challenges: Strategies for Seasonal Small Businesses · PDF · Reading, article · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
Week 6Midterm
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Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

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Course plan
  • Week 1: Introduction to Business Records and Accounting
  • Week 2: Business Finance and Financial Statements
  • Week 3: The Double Entry Accounting System
  • Week 4: Bank Reconciliation
  • Week 5: Control Accounts and Correction of Errors
  • Week 6: Absorption and Marginal Costing
  • Week 7: Budgeting Framework and Subsidiary Budgets
  • Midterm: Midterm evaluation
  • Week 9: Budgetary Control and Variance Analysis
  • Week 10: Investment Appraisal Methods
  • Week 11: Appraisal Application and Project Evaluation
  • Week 12: Applying Finance in Business in practice: case studies
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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