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Unformatted text preview: what things should be listed on the budget. When creating a flexible budget numbers from previous months should be taken into consideration simply because it gives the company an idea, at least, of what they are capable of if not better. Over-budgeting and under-budgeting should only happen in the beginning of the life of a company. Balance records should be kept accurate to avoid these types of errors; if they do occur, hopefully they will not be off by large dollar amounts. With flexible records kept accurate and up to date they can be used as basis points for the creation of the flexible budget for the next period....
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This note was uploaded on 01/24/2012 for the course ACC 220 ACC 220 taught by Professor Black during the Spring '11 term at University of Phoenix.
- Spring '11