This document will give you a brief overview of variances (which are the differences between your budgeted and actual figures) and the importance of analyzing variances in order to control your activities with respect to what you had planned in your budget.
This document will give you and your team a simple overview of what a budget actually is and why you might need one. It also explores the five different stages of the budget cycle.
Transfer prices are the prices charged internally, between different parts of the same organisation, for products or services. This article looks at the main issues involved in setting transfer prices.
There are variety of factors to consider when determining the price of a product or service. This article gives you a model and worked example that will show you how to consider all the relevant factors in setting prices.
If you find that your budget didn’t really work in reality and there were a lot of wrong estimates and major variances, you might want to look at this questionnaire to uncover problem areas and determine some actions for improvement.
In this article we introduce sources of secondary data and discuss their uses and limitations as a source of information.
A profit and loss account tells you about an organization’s financial performance and in this article the key components of the profit and loss account are explored. It will help increase your understanding of how to read and construct a profit and loss account.
A balance sheet is a snapshot of the financial status of an organization at a particular time. This article will help you understand how to read a balance sheet by examining the principles behind the information it contains and its layout.
Here, we explain some of the methods of summarising and presenting raw data, collectively known as ‘descriptive statistics’.
Cash is a vital resource for the operation of any organization. It is possible to be making profits but run out of cash. This article outlines how you can use a cash flow forecast to model the probable future cash position of an organization.
Organisations will want to know if a particular product or service is going to make a profit or, at least, break even. An important method for an organisation’s short-term cost control is cost-volume-profit analysis.
This article provides a short introduction to the subject of economics and outlines why having some knowledge of economic theories and principles can be helpful in business.
