Learning Objectives
By the end of this section, you will be able to:
The students should be able to explain the objectives of the budget process.
Specific Learning Outcomes
- Describe the nature, objectives, and benefits of budgeting and the budget process.
- Identify the components of a master budget.
- Prepare a master budget for a manufacturing enterprise.
- Prepare a performance report.
- Describe how the flexible budget is used in a performance report to measure effectiveness and efficiency.
- Prepare a flexible budget.