Budgetary process involves planning execution and review of the standards set.
It involves preparing the budget first, setting standards, communicating the objectives set in the budget and then review of budgets.
The answer to the question is "Designing an absorption costing system"
Absorption costing is an accounting method used to mark all the costs. For preparing an budget, any specific method of accounting is not specified. Other costing methods can also be used. So, it is not generally regarded as a part of the budgetary process.
The other options are part of the process as preparation of master budget is the initial step with communication of objectives set in the budget prepared and then on-going review which helps to note if there is any deviation from the standards set.
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