Business Budgeting

Paper Code: 
ABF 302
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

The objective of this course is to familiarize the students with various concepts of budgets and to learn different methods of preparing various types of budgets.

Course

Learning Outcome

 (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

ABF 302

Business Budgeting
  1. Comprehend the scope and process of budgeting and budgetary control.
  2. Evaluate and prepare flexible budget, fixed budget and sales budget.
  3. Assess and prepare of different types of functional budgets and distinguish between finance budget and cash budget.
  4. To calculate, analyse and rectify  various types budget variance.
  5. Analyse the importance, usage and scope of zero base budgeting and performance budgeting.

 

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Reading assignments, Demonstration

 

Learning activities for the students:

Self learning assignments, Effective questions, Seminar presentation, Giving tasks

 

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

 

8.00
Unit I: 
Business Budget and Budgeting

• Terminology of Budgets, procedure,
• significances & limitations of budgeting.
• Budgetary control: Meaning, features,
• Process of Budgetary Control

8.00
Unit II: 
Types of Budget

• Classification of Budget,
• Methods of preparing flexible budgets,
• difference between fixed and flexible budget.
• Functional Budgets: Meaning,
• Procedure for preparation ofSales Budget

12.00
Unit III: 
Functional Budgets

• Production Budget, Material budget,
• Master Budget and Cash Budget,
• Difference between cash budget and finance budget

10.00
Unit IV: 
Standard Costing

• Meaning, Objectives of Standard Costing,
• Difference between budgetary control and standard costing.
• Establishment of a standard costing system.
• Analysis of Budget variances: Meaning,
• objectives of variance analysis.
• Material, Labour variances, Sales variance

7.00
Unit V: 
Zero Base Budgeting

• Origin, Concept, Advantages & Limitations
• Performance Budgeting:
• Meaning, Features, Importance & limitations

References: 

• M.R. Agarwal, “Business Budgeting” Garima Publications, Jaipur
• Agarwal, Vijay, Surolia, “Business Budgeting” Ramesh Book Depot” New Delhi- Jaipur
• S.N Maheshwari, “Management Accounting and Control” Sultan Chand and Sons, New Delhi
• M.Y.Khan and P.K.Jain, “Management Accounting” Himalaya Publishing House, New Delhi
• Jawahar Lal, “Accounting for Management” Himalaya publishing house, New Delhi.
• Owswal, Sharma, “Business Budgeting” Kailash Book Depot” Jaipur

Academic Year: 
2021-2022
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