Title: Perform budgetary planning and review and other financing activities.
Course: Accounting, Advanced (12104-II) > Section: Exploring Specialized Accounting Systems

Performing budgetary planning and review should include

- distinguishing among operating, financing, and investing activities
- declaring short-term and long-term budgetary goals
- examining historical/incremental budgeting and zero-based budgeting
- reviewing progress toward those goals in a systematic manner
- comparing budgeted amounts to actual amounts spent and analyzing variances
- comparing of prior year data and current year data, with identification and interpretation of changes.