1.
Review the
Standard costs: wake up and smell the coffee
.
article.
When evaluating performance, many organizations compare
current results with the actual results of previous accounting
periods. Is an organization that follows this approach likely to
encounter any problems? Explain.
Discussion 2
Flexible budgets provide different information than static
budgets. Discuss some of these differences. Is a flexible budget
always better? Are there times when you’d recommend using a
static budget over a flexible budget?