This module will introduce you to the meaning and functions of budgeting as well as budgetary control. You will learn about why it is important to have a budgetary control system in an organization along with the various functions of the different types of budgeting in cost accounting.

This module will introduce you to standard costing as well as the concept of variance. You will learn about the types of standards, the steps of standard costing, the formulas for calculating material cost variance along with labour variance, and the impacts of overhead variance in cost accounting.