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1 st Year Business Studies

1 st Year Business Studies. Budget Revision 12 th November 2012. 3 types of Budget Questions. Continuing a budget for the next three months Estimating a budget for the remainder of the year Revising a budget. 1. Continuing a budget.

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1 st Year Business Studies

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  1. 1st Year Business Studies Budget Revision 12th November 2012

  2. 3 types of Budget Questions • Continuing a budget for the next three months • Estimating a budget for the remainder of the year • Revising a budget

  3. 1. Continuing a budget • Barack Obama’s salary will remain the same although he expects to receive a bonus of €200 in May • Michelle Obama is due a pay increase of 15% from 1st April • Child benefit will remain the same each month

  4. 1. Continuing a Budget

  5. 2. Estimating a budget for the remainder of the year • Barack Obama’s salary will remain the same although he expects to receive a bonus of €200 and overtime of €300 in May and August • Michelle Obama is due a pay increase of 15% from 1st July • Child benefit will remain the same each month

  6. 2. Estimating a budget for the remainder of the year

  7. 3. Revising the Budget • Barack’s Salary will increase by 20% from 1st February • Michelle’s Salary will end on 31st January and will be replaced by Jobseeker’s Benefit of €400 per month

  8. 3. Revising the Budget

  9. Important Budget Words • Income • Expenditure • Regular • Irregular • Fixed • Benefit-in-kind • Opportunity Cost • Impulse Buying • Budget • Budgeting • Surplus • Deficit • Net Cash • Increase • Decrease • Estimate

  10. Yes We Can

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