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Chapther 1: Budgeting, Sebastián Martín Gerardo Gutiérrez | A00227497 -…
Chapther 1: Budgeting
Budgeting systems
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Flexible Budget
Show the expected results of a responsability center for several activity levels. A Flexible budget is, in effect, a series of static budgets for different levels of activity.
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Objectives
Budgets involves estableshing specific goals, executing plans to achive the goals, and periodically comparing actual results with the goals.
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Master Budget
The master budget is an integrated set of operating, investing, and financing budgets for a period of time. Most companies prepare the master budget on a yearly basis.
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