Static and Flexible Budgets
Q1: How do budgets contribute to the strategic management
process?
• Q2: What is a master budget and how is it prepared?
• Q3: What are flexible budgets and how can they be used for
sensitivity analysis?
• Q4: How are budget variances calculated and used as
performance measures?
• Q5: How do behavioral tensions influence the budgeting process?
• Q6: What approaches exist for addressing the problems of
traditional budgeting?
