Preparing a Budget
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Preparing a Budget explains how a company's costs are classified and who should be made responsible for planning and controlling these costs. It shows the importance of human capital to the budgeting process.
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Further Details
Learning Outcomes:
*Identify fixed, variable, direct and indirect costs
*Use marginal costing techniques to ensure that correct decisions are made
*Use standard costing techniques to achieve greater precision in the budgeting process
*Assign responsibility for costs to individuals
*Constructing incentive packages for managers
*Set challenging targets
*Explain why budgets must be set both from the top-down and from the bottom-up
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