Discussion Post: Managerial Accounting
o Explain fixed and flexible budgeting. Provide an example of budgeting for three consecutive periods in which safety margin is included for flexibility.
o Explain statement of cash flows proforma and its significance in budgeting. Provide a hypothetical example of financial statements consisting of an initial balance sheet, income statement, and statement of cash flows and ending balance sheet in a manufacturing enterprise.
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.