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Variance analysis is a traditional tool used for planning and control. Comment on advantages and disadvantages

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Case Assignment;The submission should be 2-4 pages and needs to include answers to all the questions. Include references in APA format.;This Case has two parts.;Part I;We have learned about the basic ideas of managerial accounting during the first two modules. Let?s try to apply this knowledge and review Charter School Budget ACC202 Module 5 Case. This budget is prepared assuming three levels of student enrollment (66, 100 and 120). Revenue and expenses projections are shown in the budget. Operating assumptions are shown in ?Schedule A?.;The first requirement of this Case relates to the planning function of a budget. Comment on the following relating to the charter school budget;1.Is this a static or flexible budget?;2.What is total revenue (excluding grants) per student?;3.What are total expenses per student?;4.Do all expenses seem necessary?;5.Is this school viable? How many students does the school need to break even (show your calculations with analysis and state your assumptions for break-even)?;(Note: For break-even analysis, ignore revenue received as ?Grants? and ?Startup Costs? (Schedule A).;6.What are the general benefits of preparing this budget?;7.Discuss how this budget is likely to be used for the control function.;Part II;The second requirement of this case relates to the control function of a budget. Use the background material and Internet to answer the following questions.;1.Variance analysis is a traditional tool used for planning and control. Comment on advantages and disadvantages of using this approach for performance evaluations.;2.Do you have any suggestions for complementary or alternative performance measures?

 

Paper#24465 | Written in 18-Jul-2015

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