Ch 3: Budgeting in Business

About This Chapter

The lessons in this chapter are designed to help you develop a deeper understanding of budget development, calculations and components. This information can be helpful if you're looking to supplement business or accounting class studies or prepare for assessment exams.

Budgeting in Business - Chapter Summary

In this chapter, you will study details about corporate budgeting, master budgets and budget controls. Detailed definitions and examples ensure that the material is clearly and effectively explained and that you retain the most important facts addressed in these lessons.

You will also learn about variance reports and how to calculate variances in budgets. After a thorough review of this chapter, you should be able to do the following:

  • List the major components of a master budget
  • Identify and explain different budget controls
  • Prepare a corporate budget
  • Analyze budget variances
  • Relate steps for preparing budgeted reports, such as those for cash and profit

With each lesson, you get expert instruction, 24/7 accessibility and self-assessment quizzes that help you determine how much you have learned and if you need any further studies in any area. Printable lesson transcripts allow you to create reference tools if desired. Track your progress using your Dashboard, and ask instructors any questions relating to this material using a simple online contact form.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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