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3.9 Budgets (HL only)

3.9 Budgets (HL only)

Learning outcomes

"Teaching kids to count is fine, but teaching them what counts is best." - Bob Talbert, American award-winning journalist

A budget is a detailed financial plan for the future, usually involving the expected costs and revenues or a cash flow forecast, for a pre-determined period of time. A budget is produced in order to help a business to achieve its organizational objectives and to plan for the finances needed to implement business strategy.

The learning outcomes (or assessment objectives) for this section of the IB Business Management syllabus are:

  • The importance of budgets for organizations (AO2)
  • The difference between cost and profit centres (AO1)
  • The roles of cost and profit centres (AO2)
  • Variances analysis (AO2, AO4)
  • The role of budgets and variances in strategic planning (AO2)
InThinking Business Management resources

Click the hyperlinks below to access the InThinking resources for this particular section of the IB Business Management syllabus.

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