Business and technology qualifications, Levels 3-6, in Brussels. Explore qualifications
Portal login
Level 5 Diploma in Accounting and Business

Variance Analysis and Budget Monitoring

AB504 · Financial Reporting — Week 3 of 16

CourseAB504
Week3 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Variance Analysis and Budget Monitoring

  1. Flexed budgeting techniques
  2. Direct cost and sales variance calculations
  3. Variance investigation and reporting
  4. Flexible & Flexed Budgets MADE EASY | ACCA paper PM / F5 | Q. Corfe | PM Budgeting Help
  5. Variance Analysis Made Easy | ACCA PM / F5 | How to calculate variances
  6. Sales Mix and Quantity Variances DEMYSTIFIED | ACCA PM | Variance Analysis

What you will be able to do

  • 1.5 Analyse and account for variances in a budget.
  • 1.6 Prepare budget monitoring reports.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: analyse and account for variances in a budget.

Study materials

Videos

  • Flexible & Flexed Budgets MADE EASY | ACCA paper PM / F5 | Q. Corfe | PM Budgeting Help · YouTube · Steve Willis ACCA · 21 min · for registered students
  • Variance Analysis Made Easy | ACCA PM / F5 | How to calculate variances · YouTube · Steve Willis ACCA · 34 min · for registered students
  • Sales Mix and Quantity Variances DEMYSTIFIED | ACCA PM | Variance Analysis · YouTube · Steve Willis ACCA · 12 min · for registered students

Further resources

  • Principles of Accounting, Volume 2: Managerial Accounting, ch. 8: Standard Costs and Variances · PDF · OpenStax, textbook chapter; pp. 377–422 · 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
  • 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 2Week 4
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: Financial Reporting Frameworks
  • Week 2: Budgeting Approaches and Strategy
  • Week 3: Variance Analysis and Budget Monitoring
  • Week 4: Principles and Preparation of Control Accounts
  • Week 5: Control Account Analysis and Internal Reporting
  • Week 6: Traditional Investment Appraisal
  • Week 7: Discounted Cash Flow and Investment Reporting
  • Midterm: Midterm evaluation
  • Week 9: Financial Analysis: Profitability and Liquidity
  • Week 10: Financial Analysis: Efficiency and Solvency
  • Week 11: Communicating Financial Information
  • Week 12: Applying Financial Reporting 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