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Level 4 Diploma in Logistics and Supply Chain Management

Budgetary Frameworks and Approaches

LSC404 · Finance and Accounting — Week 6 of 16

CourseLSC404
Week6 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Budgetary Frameworks and Approaches

  1. Classification of operational and capital budgets
  2. Master budgets
  3. Incremental versus zero-based budgeting
  4. Functional budgets for transport and warehousing
  5. CIMA P1 Budget Styles, Methods of budgeting
  6. FUNCTIONAL BUDGETS (PART 1)
  7. The Master Budget

What you will be able to do

  • 3.1 Differentiate between different types of budgets.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: differentiate between different types of budgets.

Study materials

Videos

  • CIMA P1 Budget Styles, Methods of budgeting · YouTube · OpenTuition · 20 min · for registered students
  • FUNCTIONAL BUDGETS (PART 1) · YouTube · FOG Accountancy Tutorials · 29 min · for registered students
  • The Master Budget · YouTube · Edspira · 11 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
  • Budgetary Slack in Ireland: An Investigation · 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 5Week 7
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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.

Open this week in the portal
Course plan
  • Week 1: Foundations of Financial Record-Keeping
  • Week 2: Core Financial Statements and Logistics Decision-Making
  • Week 3: Business Capital and Fixed Asset Depreciation
  • Week 4: Working Capital and Liquidity Management
  • Week 5: Sources of Finance for Logistics Operations
  • Week 6: Budgetary Frameworks and Approaches
  • Week 7: Budget Preparation in Logistics
  • Midterm: Midterm evaluation
  • Week 9: Variance Analysis and Budgetary Control
  • Week 10: Financial Performance and Ratio Analysis
  • Week 11: Addressing Financial Under-Performance
  • Week 12: Applying Finance and Accounting 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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