{"id":494,"date":"2018-04-17T23:37:37","date_gmt":"2018-04-17T23:37:37","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/?post_type=chapter&#038;p=494"},"modified":"2024-04-29T17:20:35","modified_gmt":"2024-04-29T17:20:35","slug":"introduction-to-flexible-budgeting","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/chapter\/introduction-to-flexible-budgeting\/","title":{"raw":"Introduction to Flexible Budgeting","rendered":"Introduction to Flexible Budgeting"},"content":{"raw":"<h2>What you'll learn to do:\u00a0Outline the effects of flexible budgeting on budgetary control<\/h2>\r\nIn the previous section, we discussed the preparation of a master budget, which is a static budget. We now want to look at the advantages of preparing a flexible budget, since markets change, competition changes and the quantities we initially determined in our sales budget may flex over time.\r\n\r\nTake a few minutes to watch this video introduction to flexible budgets before moving on.\r\n\r\n<iframe src=\"\/\/plugin.3playmedia.com\/show?mf=7494711&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=375&amp;video_id=bzosH81ocZY&amp;video_target=tpm-plugin-9mj8j0gh-bzosH81ocZY\" width=\"800px\" height=\"450px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe>\r\nThen, let\u2019s examine the preparation of a flexible budget.","rendered":"<h2>What you&#8217;ll learn to do:\u00a0Outline the effects of flexible budgeting on budgetary control<\/h2>\n<p>In the previous section, we discussed the preparation of a master budget, which is a static budget. We now want to look at the advantages of preparing a flexible budget, since markets change, competition changes and the quantities we initially determined in our sales budget may flex over time.<\/p>\n<p>Take a few minutes to watch this video introduction to flexible budgets before moving on.<\/p>\n<p><iframe loading=\"lazy\" src=\"\/\/plugin.3playmedia.com\/show?mf=7494711&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=375&amp;video_id=bzosH81ocZY&amp;video_target=tpm-plugin-9mj8j0gh-bzosH81ocZY\" width=\"800px\" height=\"450px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe><br \/>\nThen, let\u2019s examine the preparation of a flexible budget.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-494\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Introduction to Flexible Budgeting. <strong>Authored by<\/strong>: Freedom Learning Group. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">All rights reserved content<\/div><ul class=\"citation-list\"><li>Introduction to Flexible Budgets. <strong>Authored by<\/strong>:  drdavebond. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=bzosH81ocZY\">https:\/\/www.youtube.com\/watch?v=bzosH81ocZY<\/a>. <strong>License<\/strong>: <em>All Rights Reserved<\/em>. <strong>License Terms<\/strong>: Standard YouTube License<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":62559,"menu_order":19,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Introduction to Flexible Budgeting\",\"author\":\"Freedom Learning Group\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"copyrighted_video\",\"description\":\"Introduction to Flexible Budgets\",\"author\":\" drdavebond\",\"organization\":\"\",\"url\":\"https:\/\/www.youtube.com\/watch?v=bzosH81ocZY\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"Standard YouTube License\"}]","CANDELA_OUTCOMES_GUID":"a7ae5200-54d2-41b2-806d-969600751441","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-494","chapter","type-chapter","status-publish","hentry"],"part":108,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters\/494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/users\/62559"}],"version-history":[{"count":10,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters\/494\/revisions"}],"predecessor-version":[{"id":4115,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters\/494\/revisions\/4115"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/parts\/108"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters\/494\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/media?parent=494"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapter-type?post=494"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/contributor?post=494"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/license?post=494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}