CORE CONCEPTS OF MANAGEMENT
MARKETING MANAGEMENT
FINANCIAL MANAGEMENT
HUMAN RESOURCES MANAGEMENT
OPERATIONS & PRODUCTION MANAGEMENT

Standard Costing and Budgetary Control
Standards are the indices against which performance can be compared. Standards, for material and labour, price and effi ciency variance, are studied in this lesson. At home if you exceed your monthly budget for milk, have you paused to understand why? The milk cooperative may not be the culprit, for they did not raise the price. Have you checked your consumption? Has it gone up? If it has, have you paused to understand why? Did you throw a couple of extra parties or did the cat drink more than it should have? In this, the last of the trilogy, the author R Ram Mohan goes back to the work place. The subjects of static budgets, fl exible budgets, controllability and variances round off this lesson (also see FM/CA1 and FM/CA2).
FM/CA3

24 Mins

26 Mins

65 Pages
Equivalent classroom time: 6hrs