Flexible Budgets

Question 1

Answer each question with 100 words or more

• What types of organizations might use flexible budgets?
• Why are flexible budgets useful?
• What are variances and why do these occur?
• What factors would you consider when deciding whether to investigate a variance?

Question 2

Give a brief detail of project cash flows, the stand alone principle, incremental cash flows and sunk cost and opportunity costs. Provide and example

1 page

Question 3

• Why is effective budgeting critical to a company’s success?

300 words with APA reference