Budgeting and Financial Performance

Hi there,

I have taken the budgeting exam and the financial performance exam and had the books aswell the good thing about these 2 exams is that they do link up budgeting is the start of financial performance, some of what you learn in budgeting comes up again in financial performance so it does make it a bit easier to understand financial performance. As mentioned before Budgeting is the base of starting financial performance so it may seem similar but there are a few difference such as varations in financial performance goes into depth but do not worry, dont just memorise them understand them and they are not as hard as they seem. I hope this helps you out and good luck with it

Kind regards

Shamil

Hi,

Your most welcome I am sure you will all pass it. Just an example (not 100% sure did it a bit of time back is all) in budgeting they may say Materials variance is adverse and explain it with reasons why maybe but in financial performance you would get a break down of materials which would be Material Prices and Materials usage and they would ask you to work out variances for them not just materials being adverse or favourable. So for Material prices it would be comparing the Materials price per kg with the actual and the budget and for usage it would be actual material usage to make the total products against the budget usage to make the actual total products. Dont worry when you start it will be alot clearer. Hope this helps you out

Kind regards

Shamil