This week’s topics
Budgeting Approaches and Strategy
- Role of budgeting in operational success
- Incremental vs zero-based budgeting
- Top-down and bottom-up budget setting
- CIMA P1 Budget Styles, Methods of budgeting
- Types of Budgeting Methods
What you will be able to do
- 1.3 Describe how budgeting and monitoring of business performance contribute to business success.
- 1.4 Explain the advantages and disadvantages of different types of budget-setting.
Activity
Start with this week’s 2 videos, then: Seminar, guided reading and a short written task: describe how budgeting and monitoring of business performance contribute to business success.
Study materials
Videos
- CIMA P1 Budget Styles, Methods of budgeting · YouTube · OpenTuition · 20 min · for registered students
- Types of Budgeting Methods · YouTube · Galton College · 18 min · for registered students
- Budget Styles, Methods of budgeting - CIMA P1 · YouTube · OpenTuition · 20 min · for registered students
- CIMA P1 Budgeting Objectives, The preparation of budgets · YouTube · OpenTuition · 30 min · for registered students
- Budgeting part 2 - Types of budget - ACCA Performance Management (PM) · YouTube · OpenTuition · 23 min · for registered students
- Budgeting Techniques · YouTube · Galton College · 38 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
- Introduction to Business 2e, ch. 16.1: The role of finance and the financial manager · PDF · OpenStax, textbook chapter; pp. 539–540 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
