The purpose of managerial accounting is to provide budgeting and performance information to managers so that they are able to successfully direct a company or business. Flexible budgeting and overhead ...

Budgeting is how a business plans for future production cycles. An initial budget - known as a "static" budget - is a necessary planning tool; creating a second, flexible budget allows a business to ...

A flexible budget is one that is allowed to adjust based on a change in the assumptions used to create the budget during management's planning process. A static budget, on the other hand, remains the ...

Budgets are important tools for helping companies analyze their costs and pinpoint ways to maximize their profits. Some companies follow static budgets, which remain constant regardless of sales ...

Best for: Ongoing projects with an inconsistent work flow and a flexible budget. Example: Company XYZ contracts with a Web developer to maintain its Web site. This typically requires just a few hours ...

Think budgeting is all about strict rules and saying “no” all the time to the things and experiences you love? It doesn’t have to be. A flexible budget could suit your personality and lifestyle more.

A flexible budget is one that is allowed to adjust based on a change in the assumptions used to create the budget during management's planning process. A static budget, on the other hand, remains the ...