What is a flexible budget?

Respond to weekly discussion questions.

Week Five Discussion Questions

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.

Review different budgets used in your organization or in an organization with which you are familiar. What are the uses of the types of budgets you reviewed?

What is a flexible budget? What types of organizations may use flexible budgets? Why are flexible budgets useful?
What are variances and why do these occur? When should one investigate budget variances? What factors would you consider when deciding whether to investigate a variance? As a manager, how you would you handle variances?

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