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By the end of this session you should be able to:

  • explain the purposes of budgets
  • prepare a budget for any account in the master budget
  • discuss alternative approaches to budgeting
  • discuss the concept of the budget as a control system
  • discuss the use of responsibility accounting

and answer questions relating to these areas.

The underpinning detail for this Chapter in your Notes can be found in Chapters 11 of your Study Text