Discussion- Budgets
Answer the following Managerial Accounting questions.
The topic for this week is budgets.
1. Why are budgets important to a company?
2. Choose your favorite manufacturing company and describe some of the budgets you think would be useful to that company (operating and financial) and the purpose for each budget.
3. Lastly, do you think the static or flexible budget (or both) would be most appropriate for the company you chose?
References
Nobles, T. L., Mattison, B. L., Matsumura, E. M. (2014). Horngren's financial and managerial accounting (4th ed.). Upper Saddle River, NJ: Pearson Education, Inc.