Budget Variances | A-Level & IB Business

[@tutor2u-official]

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[@hippopotomonstrosesquipped8362]

My uni teachers are rubbish. (Okay thats not always true I've had 20% of amazing tuturs) I don't know where on earth they get their phd from they can't answer a simple business question. Usually these dodgy tutors in my uni are from india, suffice to say the students and these teachers dont vibe. Except for the brown nosers... Anyway I can understand you. You're clear and precise, and I always come to you for educational nurture.

[@afnanhossain9823]

@@hippopotomonstrosesquipped8362 you

[@afnanhossain9823]

@@hippopotomonstrosesquipped8362 you o

[@tutor2u-official]

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[@haroonrasheed11]

i have a doubt , do units sold need to be same for both actual and budgeted to follow this example?

[@sasharianrobinson3416]

I had some trouble with a question about adverse and favorable on a CAPE past paper but this video gave me clarification on that, thank you

[@tutor2u-official]

Glad it was helpful!

[@AB-xj3co]

great video, very well done and easy to understand. thank you!

[@RatedRvlogs111]

Thank you,it was very clear for me now I'm goin to be able to carry out my case study

[@ivettjiron5942]

Thank you you are amazing I should paid you instead of the university

[@1960317]

🤣

[@veronicamutangadura8429]

Very clear and easy to follow through 👏🏽👏🏽👏🏽

[@jamieharrison9810]

Video is such a help for students

[@menzorymajola6226]

Thank you..... From South Africa

[@LLLL00001]

Hello, I am a little confused on whether the formula for variance analysis is "actual figure - budgeted figure" or "budgeted figure - actual figure". Someone told me I can use either way, if that is the case, for example, I would get "50 - 20 = 30" or "20 - 50 = -30". How would I know if the variance is either favourable or adverse?

[@logen5059]

It depends on if it’s sales or if it’s costs. If sales then actual being bigger than budget would be favourable because you’ve sold more than you expected but if it’s costs then that’s adverse because you’ve actually spent more than budgeted

[@nilessbala2986]

a projection of likely consequences for the business or its objectives of each of the variances you have chosen

[@cheellis8738]

Very helpful... Thank you...

[@madhurangadhanushka4832]

Thanks for the video. Add some advance objectives with proper reconciliation.. (From Srilanka)

[@katebonddd]

Really helpful! Quick question, what would be an example of an unexpected event in the business that would lead to unbudgeted costs?

[@tutor2u-official]

Unexpected changes in the costs of buying key inputs

[@Tsvakaigama]

Increase in transportation costs is another one that has affected a lot of organisations..especially those who export from overseas

[@calebcali1482]

Thank you from Nigeria

[@mariagu2602]

thank you!!! so detailed than my class lecture

[@tutor2u-official]

You're very welcome! Good luck with your classes

[@sirirat4536]

Thank you from Thailand

[@ivancarlson953]

What is the rule for what's considered a significant variance - >10% and over a certain absolute amount?

[@ryanzhao2052]

Prices, costs, level of demand, level of usage.

[@sachinkulatilleke9302]

was really helpful. Thnx alot!!!!!!!!!!!!!!!!!!!!!!!

[@tutor2u-official]

Thanks for the lovely feedback!

[@AndyMoradi]

on top it says operating profit was £12,000 then on the button table i says operating profit £15,000. im confused!!!

[@AndyMoradi]

if we are comparing this month with last month??? because both say last month on them thats why im confused.

[@fullfreestreams9377]

very clear, thanks!

[@dianamariarojasatehortua7457]

nice and simple, thanks

[@jayasinhawanniarachchi6450]

Diana Maria Rojas Atehortua

[@Locochat25]

clear for me. Thanks

[@nashhenry9314]

Hi there lol.