ACCT4 Chp 9 | Baamboozle - Baamboozle | The Most Fun Classroom Games!

Team 1
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Team 2
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Teams

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A management system in which actual results are compared to a budget. Significant deviations from the budget are flagged as exceptions and investigated further.

Management by exception

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A budget created at the beginning of the budgeting period that is valid only for the planned level of activity.

Planning budget

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The difference between the actual revenue for the period and how much the revenue should have been, given the actual level of activity.

Revenue variance

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boom

Lose 50 points!

Oops!

gift

Win 10 points!

Okay!

rocket

Go to first place!

Okay!

baam

Lose 10 points!

Oops!

A report showing estimates of what revenues and costs should have been, given the actual level of activity for the period.

Flexible budget

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baam

Lose 10 points!

Oops!

fairy

Take points!

shark

Other team loses 25 points!

Okay!

thief

Give points!

The difference between a revenue or cost item in the flexible budget and the same item in the static planning budget.

Activity variance

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The difference between the actual amount of the cost and how much the cost should have been, given the actual level of activity.

Spending variance

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