A student understands the purpose of budgeting as a tool of management control in an organization. A student masters budgeting techniques and is able to implement a budgeting system based on organizational needs. A student understands the critcism towards traditional budgeting methods.

Budgeting system, the objectives of budgeting, the preparation of budgets and budgeting control and the alternatives of budgeting development.

Basic accounting studies

Sufficient (1): A student can assist in designing a budgeting system for a small organization. A student understands the key concepts and means of budgeting. A student recognizes the criticism towards traditional budgeting means.

Satisfactory (2): A student can with some support design a budgeting system for a SME company. He/she has some understanding of the theory, techniques and criticism of traditional budgeting means.

3 (Good): A student can design a budgeting system for the needs of a small organization under supervision. A student has a vast understanding of the theory, techniques and criticism of traditional budgeting means.

4 (Very good) A student can design, and evaluate a budgeting system for the needs of a small organization. A student masters the techniques and criticism of traditional budgeting means. A student is able to estimate the useful of a budgeting system against the needs of the company.

5 (Excellent): A student can independently design, implement and evaluate a budgeting system for the needs of a small organization. A student masters the theory, techniques and criticism of traditional budgeting means. A student is able to estimate the appropriateness of a budgeting system against the needs of the company.