Fixed Budgets

Question 1

a. Provide general discussion on budgeting, limitations of fixed budget and necessity of fixed budget. in details. Given values in the example are in black and the found values are in red. Add inline citation

b. Provide general discussion on departmental income statement, criteria for division of indirect costs provide inline citations, then provide an example and explain your work in details

Please include references at the end

Question 2

Discussion

This assignment has 2 parts

Budget monitoring is necessary to make sure that businesses and organizations do not experience net loss and that operational expenses do not exceed the projected revenue for the budget period. Budgeting protects the resources in a company and ensures that funds are properly accounted for and used for their initial intention.

1. What are some examples of vulnerable asset areas that pose risk for companies?
2. Do these areas vary by company or industry? Why?4

Question 3

This assignment has 2 parts:

Today, many companies face budgetary challenges on a continual basis. Two critical aspects that businesses lack are effective control practices and monitoring.

1. What are some examples of effective control practices and how do they help address budgetary challenges?
2. What types of challenges could exist in monitoring and maintaining the controls?