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Answer the 10 questions below, each question minimum of 75 words each question. Must be in APA format, please identify the questions on paper.

Reference:

Kimmel, P.D., Weygandt, J.J., & Kieso, D.E. (2016). Accounting: Tools for Business Decision Making (6th ed.). Hoboken, NJ: John Wiley & Sons.

Week 6 – First Message #1

1. Imagine you are preparing a business’s cash budget, which involves determining the amount of cash to keep on hand. How might the nature of the business affect your decision? Provide specific examples in your response.

Chapter 21:

2. Why is effective budgeting critical to a company’s success?

Chapter 22

3. What is a flexible budget?

4. What types of organizations may use flexible budgets?

5. Why are flexible budgets useful?

Chapter 23:

6. What are variances and why do these occur?

7. What factors would you consider when deciding whether to investigate a variance?

Watch the “Author’s Corner: Budgets” video.

Consider the following as you watch:

8. Why is it important for management to understand how a budget is prepared?

Watch the “Author’s Corner: Variance Analysis and Balanced Scorecard” video.

Consider the following as you watch:

9. What is a balanced scorecard?

10. What are the four scorecard perspectives identified and the objectives of each?

 
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