Business and technology qualifications, Levels 3-6, in Brussels. Explore qualifications
Portal login
Level 3 Diploma in Business Management

Budgetary Control and Variance Analysis

BM305 · Finance in Business — Week 9 of 16

CourseBM305
Week9 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Budgetary Control and Variance Analysis

  1. Fixed versus flexible budgets
  2. Standard costing fundamentals
  3. Calculating material and labour sub-variances
  4. Determining overall budget variances and reporting causes
  5. Budget Variances | A-Level & IB Business
  6. Standard Costs and Variance Analysis
  7. MA40 - Flexible Budgets Explained

What you will be able to do

  • 3.2 Explain how budgeting is used for financial planning and control.
  • 4.2 Calculate sub and overall variances.

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

  • Budget Variances | A-Level & IB Business · YouTube · tutor2u · 7 min · for registered students
  • Standard Costs and Variance Analysis · YouTube · Edspira · 16 min · for registered students
  • MA40 - Flexible Budgets Explained · YouTube · Tony Bell · 7 min · for registered students

Further resources

  • Principles of Accounting Vol. 2, ch. 8.1–8.5: Standard costs and variances · PDF · OpenStax, textbook chapter; pp. 366–410 · for registered students
  • Managerial Accounting, ch. 10: How Do Managers Evaluate Performance Using Cost Variance Analysis? · PDF · Saylor Academy, textbook chapter; pp. 619–709 · for registered students
  • Academy trust management accounting: good practice guide (DfE/ESFA, 2024) · Reading · GOV.UK, guidance · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
MidtermWeek 10
Course chat

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.

Open this week in the portal
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
Back to the course
Scroll