Define a flexible budget and describe its use. Under which budgeting approach would flexible budgets more likely be used, and why?

The budgeting process may be approached differently in various firms. Top-down budgeting has its inception with directives from senior management who prepare the budget for staff and assess performance based on objectives established at higher levels. Any additional compensation received occurs as a result of achieving budgetary targets imposed by others. In contrast, bottom-up budgeting reflects the predictions of cost, revenue, profit, and investment center managers—proposed and approved by senior managers. Incentives are negotiated by managers proposing the budget rather than imposed by higher level executives.

In a well-written paper demonstrating CSU-Global standards, answer the following questions:

  1. Define a flexible budget and describe its use. Under which budgeting approach would flexible budgets more likely be used, and why?
  2. What might be the most important consideration in investigating budget variances?
  3. What are the potential benefits of monitoring direct cost variances?
  4. What are the potential benefits of monitoring overhead variances?
  5. Should managers be commended for achieving favorable overhead spending, efficiency, and production volume variances? Rationalize your response.

Are you looking for a similar paper or any other quality academic essay? Then look no further. Our research paper writing service is what you require. Our team of experienced writers is on standby to deliver to you an original paper as per your specified instructions with zero plagiarism guaranteed. This is the perfect way you can prepare your own unique academic paper and score the grades you deserve.

Use the order calculator below and get started! Contact our live support team for any assistance or inquiry.

Type of paper Academic level Subject area
Number of pages Paper urgency Cost per page:
 Total: