In a business organization it is always good to start the year with a budget. Though many companies use static budget it is very much advisable to have flexible budget. A flexible budget is a budget which provides for changes in the volume of operations whereas a static budget is rigid and remains same for any level of operations. Flexible budget is more advanced form of budget. After each period the actual results must be compared with the budget to know whether the business has underperformed or over performed than the expected outcome. This comparison is presented in a report form which is called as flexible budget performance report. This is one of the most important management tools for decision making. To Prepare: Flexible budget performance report

Question

Want to see the full answer?

Answer 1

Question

Chapter 23, Problem 4QS

To determine

Concept Introduction:

In a business organization it is always good to start the year with a budget. Though many companies use static budget it is very much advisable to have flexible budget. A flexible budget is a budget which provides for changes in the volume of operations whereas a static budget is rigid and remains same for any level of operations. Flexible budget is more advanced form of budget.

After each period the actual results must be compared with the budget to know whether the business has underperformed or over performed than the expected outcome. This comparison is presented in a report form which is called as flexible budget performance report. This is one of the most important management tools for decision making.

To Prepare: Flexible budget performance report

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

What is the gross profit on this sale?

question 3

QUestion 8

Answer 2

Question

Chapter 23, Problem 4QS

To determine

Concept Introduction:

In a business organization it is always good to start the year with a budget. Though many companies use static budget it is very much advisable to have flexible budget. A flexible budget is a budget which provides for changes in the volume of operations whereas a static budget is rigid and remains same for any level of operations. Flexible budget is more advanced form of budget.

After each period the actual results must be compared with the budget to know whether the business has underperformed or over performed than the expected outcome. This comparison is presented in a report form which is called as flexible budget performance report. This is one of the most important management tools for decision making.

To Prepare: Flexible budget performance report

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 23, Problem 4QS

To determine

Concept Introduction:

In a business organization it is always good to start the year with a budget. Though many companies use static budget it is very much advisable to have flexible budget. A flexible budget is a budget which provides for changes in the volume of operations whereas a static budget is rigid and remains same for any level of operations. Flexible budget is more advanced form of budget.

After each period the actual results must be compared with the budget to know whether the business has underperformed or over performed than the expected outcome. This comparison is presented in a report form which is called as flexible budget performance report. This is one of the most important management tools for decision making.

To Prepare: Flexible budget performance report

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 23, Problem 4QS

To determine

Concept Introduction:

In a business organization it is always good to start the year with a budget. Though many companies use static budget it is very much advisable to have flexible budget. A flexible budget is a budget which provides for changes in the volume of operations whereas a static budget is rigid and remains same for any level of operations. Flexible budget is more advanced form of budget.

After each period the actual results must be compared with the budget to know whether the business has underperformed or over performed than the expected outcome. This comparison is presented in a report form which is called as flexible budget performance report. This is one of the most important management tools for decision making.

To Prepare: Flexible budget performance report

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 23, Problem 4QS

To determine

Concept Introduction:

In a business organization it is always good to start the year with a budget. Though many companies use static budget it is very much advisable to have flexible budget. A flexible budget is a budget which provides for changes in the volume of operations whereas a static budget is rigid and remains same for any level of operations. Flexible budget is more advanced form of budget.

After each period the actual results must be compared with the budget to know whether the business has underperformed or over performed than the expected outcome. This comparison is presented in a report form which is called as flexible budget performance report. This is one of the most important management tools for decision making.

To Prepare: Flexible budget performance report

Answer 6

Chapter 23, Problem 4QS

To determine

Concept Introduction:

In a business organization it is always good to start the year with a budget. Though many companies use static budget it is very much advisable to have flexible budget. A flexible budget is a budget which provides for changes in the volume of operations whereas a static budget is rigid and remains same for any level of operations. Flexible budget is more advanced form of budget.

After each period the actual results must be compared with the budget to know whether the business has underperformed or over performed than the expected outcome. This comparison is presented in a report form which is called as flexible budget performance report. This is one of the most important management tools for decision making.

To Prepare: Flexible budget performance report

Answer 7

Chapter 23, Problem 4QS

To determine

Concept Introduction:

In a business organization it is always good to start the year with a budget. Though many companies use static budget it is very much advisable to have flexible budget. A flexible budget is a budget which provides for changes in the volume of operations whereas a static budget is rigid and remains same for any level of operations. Flexible budget is more advanced form of budget.

After each period the actual results must be compared with the budget to know whether the business has underperformed or over performed than the expected outcome. This comparison is presented in a report form which is called as flexible budget performance report. This is one of the most important management tools for decision making.

To Prepare: Flexible budget performance report

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 23 - Prob. 1DQ Ch. 23 - Prob. 2DQ Ch. 23 - Prob. 3DQ Ch. 23 - Prob. 4DQ Ch. 23 - Prob. 5DQ Ch. 23 - Prob. 6DQ Ch. 23 - Prob. 7DQ Ch. 23 - Prob. 8DQ Ch. 23 - Prob. 9DQ Ch. 23 - Prob. 10DQ

Concept explainers

Videos

Want to see the full answer?

Chapter 23 Solutions