ACC212Chap24

ACC212Chap24 - Chapter 24 BUDGET PERFORMANCE REPORTS &...

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Chapter 24 In the last chapter we learned about the preparation of various types of budgets and some of the advantages of preparing budgets. In this chapter, we will focus on using budgets to control operations and evaluate managerial performance. Budgetary control --- using budgets to control business operations; in essence, the using budget reports which compare actual results with planned results Static budgets --- this is a type of budget which projects data based on a single level of activity ; this type of budget is most useful when costs are mostly fixed in nature Flexible budgets --- this is a type of budget which projects data for various levels of activity; stated another way, a flexible budget is simply a static budget for each of several different levels of activity; flexible budgets are always useful ---especially when costs are mostly variable in nature Management by Exception
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This note was uploaded on 04/07/2008 for the course ACC ACC212 taught by Professor Prescott during the Spring '08 term at S. Alabama.

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ACC212Chap24 - Chapter 24 BUDGET PERFORMANCE REPORTS &...

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