Need some assistance with my discussion post for my managerial accounting course.
SNHU Discussion Board Post – Module 3
• Describe the budget process and why budgets are useful
• Prepare operating budgets
• Prepare financial budgets
• Make operations decisions based on financial budgets
• Identify ethical issues in budgeting
• Describe variances and what they reveal about performance
• Prepare flexible budget and interpret a flexible budget performance report
• Compute material, labour, and overhead variances
Q: The topic for this week is budgets. Why are budgets important to a company? Choose your favorite manufacturing company and describe some of the budgets you think would be useful to that company (operating and financial) and the purpose for each budget. Lastly, do you think the static or flexible budget (or both) would be most appropriate for the company you chose?
Thank you for your help!