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Accounting Question Overview: In this assignment, you are provided with a case which includes data relating to static budget, flexible budget, and variance analysis. You will transcribe the data from the case and create a: Static budget Actual budget Flexible budget Static budget variance Flexible budget variance Variance analysis You will also write a memo […]
Does your organization use a flexible or a static budget? Explain and provide examples. Non profit organization. We use a flexible budget to meet the need. We will shift funds or raise more if we see we need more or an opportunity arises to start a new program. Ex. When Covid came, we allocated money […]
Budgeting is a tool used by management for performing the functions of planning, coordinating, and controlling operations of a business. Our textbook, Managing Accounting Concepts, describes 2 main types of budgeting: static budgets and flexible budgets. Respond to the following in a minimum of 175 words: Differentiate between the 2 types of budgets. Provide an […]
Discuss The advantages of a flexible budget technique used for forecasting sales and production volume.
