Flexible Budgets

From the Paper:

"Introduction
The budget process is one way in which companies determine how they are performing in relation to how they expect to perform. Calculating the variances of planned (budgeted) expenses against actual expenses and the variances of planned revenue toward actual revenue can help companies decide whether cutbacks need to be made or whether expansion plans are in order. Individual managers often devote a significant amount of their effort toward the budget process, and managers may well find their own performance (and compensation) tied to how well their projections match how their organization actually performs. Because of the importance of the budget process to an organization, companies must have accurate budgets which provide them with timely and useful information. Two types of budgets, static and flexible, have.."

More papers on Flexible Budgets:

• Essay # 106164 : "Flexible Budgeting"
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• Case Study # 106365 : "Design and Budget Elements of a Proposal"

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