Assignment
Ch. 21: Budgetary Planning
1. Why is effective budgeting critical to a company's success?
2. State the essentials of effective budgeting and the components of the master budget.
3. Apply budgeting principles to nonmanufacturing companies.
Ch. 22: Budgetary Control and Responsibility Accounting
4. What is a flexible budget?
5. What types of organizations might use flexible budgets?
6. Why are flexible budgets useful?
Ch. 23: Standard Costs and Balanced Scorecard
7. What are variances and why do these occur?
8. What factors would you consider when deciding whether to investigate a variance?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.