Why are budgets important to a company? Choose your favoritemanufacturing company and describe some of the budgets you thinkwould be useful to that company (operating and financial) and thepurpose for each budget. Lastly, do you think the static orflexible budget (or both) would be most appropriate for the companyyou chose?

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Nelly StrackeLv2

28 Sep 2019

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Flexible Budgets Discussion

The company has been preparing a static budget for the last fewmonths. Your manager doesn't understand why the static budget is sodramatically different than actual results. After you examine theresults, you see that the budgeted units manufactured is differentthat the actual production. Explain to your manager how a flexiblebudget could be used.

***Must be at least 2 paragraphs and any citations in APAformat. Thanks!

Ask a friend or family member if they think people that preparepersonal financial budgets are more or less likely to be in debtand why. Then ask the same or another person why they think manypeople do not prepare a personal financial budget. Share theiranswers and explain if you agree or do not agree with them .

A recent news article from US News on personal budgets(http://finance.yahoo.com/news/5-big-reasons-budgets-fail-194546161.html)says that one reason budgets fail for individuals is because theyhaven't given you a reason to follow them. The article says: "Inmany cases people set vague, unreachable goals. When they cannotachieve them or do not see progress happening, they become hopelessand give up or think their efforts do not matter, In other words,if your budget were a person, would it be the president, or afootball coach or maybe the captain of a ship? Or is your budget ashady looking fellow with body odor?"

Applying this to budgets in businesses, discuss one way acompany can assure its budgets are "leaders".

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