2.2.1
Sales forecasting
The purpose of sales forecasting and the factors affecting it, including consumer trends, economic variables and the actions of competitors, plus the difficulties of forecasting.
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Topic 2.2
Financial planning
Use forecasts, costs and budgets to support financial planning. Calculate sales, revenue, costs, contribution, break-even output and the margin of safety. Then prepare budgets, analyse variances and assess why forecasts may be unreliable.
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16 min
2.2.2
Sales, revenue and costs
Calculating sales volume and sales revenue, and distinguishing fixed, variable and total costs.
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2.2.3
Break-even
Contribution, break-even output, margin of safety, break-even charts and the effects of changes in price, costs and output, plus the limitations of break-even analysis.
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2.2.4
Budgets
The purpose of budgets, historical and zero-based budgeting, variance analysis and the difficulties of budgeting.
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