Business Studies (AS)·The accounting function, planning & controlling · NSSCAS 2.3
Costs, budgets & cash flow forecasts
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Money flows in and out of every business, and a good manager plans it before it happens. In this lesson you will name and explain each type of cost, then build a real three-month cash flow forecast for a Katutura spaza shop, row by row, in N$. You will also compile a budget and carry out variance analysis, comparing the plan with what actually happened. Master this and the whole of the accounting planning section becomes calculation you can do with confidence.
What you'll learn in this lesson
By the end you should be able to (NSSCAS Business Studies (AS) 2.3):
- explain what is meant by - fixed cost, variable cost, total cost, income, operating expenses
- explain the nature and usefulness of budgets and cash flow forecasts
- compile and analyse budgets, including variance analysis of cash budgets
- compile and analyse simple cash flow forecasts
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Miss Maria and Mike talk through the whole topic — with the figure and working drawn live.