Introduction

A budget is a financial PLAN. It is used for planning, motivation, resource allocation, coordination of business functions, and to steer the business.

A budget can set financial targets and help a business keep on track to meet its goals by estimating the company's expenses and revenues over a specified period of time.



Course curriculum

  • 1

    Course Information & Support

    • Please Check Now That Your Phone Is In Your Bag. Please Stay For 40 Minutes Of Learning & Sign Out For The Bathrrom During The Last 5 Minutes of Class.

    • Fact Sheet Packet Of Class Policies- Please Scroll Through And Review Again

    • How Well Are You Demonstrating The IB Learner Characteristics? Which Is Your Super Power & Which Presents The Greatest Challenge?

    • Welcome IB Business Management Student

    • Chapter Work Cycle = This Is What We Are Doing In Class & For Homework Every Day

    • Finished Early? Don't Pack Up! Do This ...

    • Please Don't Disrupt Our 40 Minute Work Cycle. Leave For The Bathroom During The LAST 5 MINUTES Of Class.

    • Your Quarter Grade
  • 2

    Your Notebook Is Your Most Important Weekly Grade & Prepares You For The May Exams

    • New 3.9 Chapter = 9 Headings

    • Read The Rules For Your Notebook Before Every Grading Day. This Paper Must Be Stapled Onto The Inside Cover Of Each Composition Notebook

    • Video: Watch A Spider Map Being Created (Best Study Tool)

    • How To Draw A Spider Map

    • LOOK: Page-By-Page Visual Instructions For Earning a 100% On Every Notebook Chapter. (NEW For 2024)

    • Video: Take A Tour Of A Business Management Composition Notebook

    • This Is How Your Notebook Pages Will Be Graded

    • Notebook Checklist & Reflection Sheet- Print, Complete, And Staple Onto The Last Page Of Your Chapter Notes BEFORE Scoring Day. It's Best To Pick Up This Blue Color Checklist In Class After We Finish The Chapter Review.
  • 3

    "RESOURCE BANK" = Topic Lessons (34) Begin Below this Point:

    • One-Year Students! DO NOT Do This Chapter! Do Chapter 4.8 Instead

    • What is the Resource Bank?

    • RB = 5 Sections & 34 Posts (= 2 RB Days + HW)

    • SL Learns HL Content

    • What You Should be Able To Do By the End Of This 3.9 Chapter
  • 4

    The Importance Of Budgets

    • Introduction To Budgets

    • Video: A Budget Is A Tool For Every Entrepreneur And Business Owner

    • Handout: Important Basic Key Terms

    • Video: What Examiners Want You To Say About Budgets

    • Exam Tip: Be Able To Explain Budgeting

    • Handout: The 7 Purposes Of A Budget

    • Handout: 5 Potential Limitations Of Budgets

    • Video: Limitations Of Budgeting

    • Remember To Create S.M.A.R.T. Budgets. YOU MUST EXPLAIN WHAT S.M.A.R.T MEANS ON THE PAPER 3 EXAM!
  • 5

    How Are Budgets Used To Run A Business?

    • Video: An Accountant Explains How She Discusses A Budget With A Business Owner

    • Video: Write Down These Top 5 Tips For A Business Budget

    • Video: How To Set Up A Business Budget
  • 6

    Types Of Budgets

    • Handout: Budget Flowchart & The 7 Stages Of Creating a Budget

    • Video: Types Of Budgets

    • Video: What Is A Flexible Budget?

    • Video: What Is A Sales Budget?

    • Video: How To Calculate A Sales Budget

    • Video What Is A Staff Budget?

    • Video: What Is A Production Budget?

    • Video: How To Calculate A Production Budget? (advanced and good for an IA)

    • Video: Take A Quick Look At A Marketing Budget (First 2 Min Only)
  • 7

    Cost Centers Vs. Profit Centers

    • Video: What Are Cost Centers & Profit Centers?

    • Video: There Can be Four Different Finance Departments in a Business!

    • Case Study Video: See How Home Depot Structures Their Profit & Cost Centers
  • 8

    Variance Analysis

    • Handout: There Are 2 Methods For Updating An Annual Budget

    • Video: What Is Zero-based Budgeting?

    • Video: Understanding The Common Criticisms Of Zero-based Budgeting

    • Video: Incremental Budgeting vs. Zero-based Budgeting

    • Handout: Key Concepts Concerning Budget Variance

    • Video: What Is Budgetary Control?

    • Exam Tip: Possible Causes Of Variances

    • Video: How To Calculate Variances On Your IA, EE And Exams

    • Handout: A Worked Example OF Calculating Budget Variances

    • Exam Tip: Link Budgets To Herzberg
  • 9

    Budgets & The CCES Concepts (Creativity-Change-Ethics-Sustainability)

    • Read These CCES Definitions. If You Write Them On Your May Exams You Get Credit For Clear Evidence of "Synthesis & Evaluation"

    • CCES Assignment: Write 4 CCES Impact Statements For This Chapter Following The Given Model

    • Finished Early? Don't Pack Up! Do This ...
  • 10

    Let's Do Some Case Studies

    • Visual Of Case Study Day 1 Process

    • Day 1 Participation Requirements During Sharing

    • Instructions for Analyzing Case Studies

    • New Command Terms Definitions List (2024+) Exams = Rules for Answering Test Questions

    • Old Command Terms List = Rules for Answering Test Questions

    • New 3.9 Assigned Case Studies

    • Show Your Teacher Your Completed Case Studies Then ...

    • Visual Of Case Study Day 2 Process (Show & Tell Your Presentation- Don't Pass It Around- Give Command Term Definitions)

    • Finished Early? Don't Pack Up! Do This ...
  • 11

    Review Activities

    • WATCH: 3.9 Chapter Review

    • Instruction Sheet for Review Assignment

    • What Should You Do If You Get Stuck On A Question? Don't Skip It! Do This...

    • New 3.9 Review Worksheets With 7 Tasks 1-15 M/C (Title The Top Of A New Page. Then Label The Tasks And Write The Answers In Your Composition Notebook)

    • Put Away Your Pen & Pencil On Review Day- Only Have A Color Pen On Your Desk

    • 3.9 Quizlet

    • Have You Achieved the 3.9 Key Learning Outcomes?

    • You Are Almost Finished!

    • Don't Forget The Last Piece!

    • Finished Early? Don't Pack Up! Do This ...

    • Memorize These 3.9 Exam Formulas
  • 12

    Exam Review & Practice: Do These Practice Questions Before Your May Exams (Don't Look At The Markscheme Until You Have Written A Complete Answer)

    • READ & COPY THIS: Understand The May Exam Format & Learn The Best Paper 2 Strategy

    • Exam Practice: Variance Analysis
  • 13

    You Finished The IB BM Textbook!

    • You Have Finished The IB BM Syllabus! You Are Now A Skilled Independent Learner Ready For College!

    • Direct Link To The Exam Prep Course

    • Paul Hoang's Website
  • 14

    RHS Mental Health Presentations

    • Interagency Support - 19 Minute April Lesson (Per.4)
  • 15

    3.9 Quiz Scheduled

    • Come Here On Quiz Day If You Are In The Classroom - Makeups Are On The Day You Return

    • Visual: Quiz Day Schedule Of Activities

    • After This 3.9 Quiz Complete The 3.9 Tasks In The Official IB BM May Exam Prep Course

    • Did You Finish The 3.9 Exam Review & Practice?