Please post a response only between 200 – 300 words to the following discussion question
What is a flexible budget? What types of organizations may use flexible budgets? Why are flexible budgets useful?
Next, imagine you are preparing a business’s cash budget, which involves determining the amount of cash to keep on hand. How might the nature of the business affect your decision? Provide specific examples in your response
Please post a response between 200 – 300 words to the following discussion question.
What are variances and why do these occur? When should one investigate budget variances? What factors would you consider when deciding whether to investigate a variance? As a manager, how you would you handle variances? Should managers be punished or rewarded depending on the variances in their departments?
Imagine you are preparing a business’s cash budget, which involves determining the amount of cash to keep on hand. How might the nature of the business affect your decision? Provide specific examples in your response.
Responsibility Reports and Standard Cost
Review different budgets/reports used in your organization or in an organization with which you are familiar. What are the uses of the types of budgets you reviewed?
There are some problems that can and may arise with managers and budgets. Can we explain and describe the cycle of bias by lower-level managers and bias-adjustment by upper-level managers that can spiral out of control and result in meaningless budgets?
A budget is a very useful and important tool for any business. A budget is even important in our personal lives assisting us with our expenses. As a controller, I feel like I am constantly in “budget mode” as everything revolves around the corporate budget. As you begin to read the week four materials on budgets and the budgeting process, I am wondering your thoughts on the following: Can a budget contribute to good management?