What you’ll learn4 learning objectivesChoose one objective for a focused lesson, or study the complete topic.3.9.1(HL)—Cost and profit centres• Distinguish cost centres and profit centres• Analyse roles of cost and profit centres• Centres support accountability, control, budgeting, and performance monitoringSyllabus objective3.9.2(HL)—Constructing budgets• Construct a budget• Budgets plan expected revenue, costs, cash flows, and resource useSyllabus objective3.9.3(HL)—Variances• Calculate and interpret variances• Variances compare budgeted figures with actual outcomesSyllabus objective3.9.4(HL)—Budgets in decision-making• Analyse the importance of budgets and variances in decision-making• Budgets guide planning, control, accountability, motivation, and corrective actionSyllabus objective
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