Discussion Post: Managerial Accounting
Answer each of the following questions in detail. Provide in-text citations and include examples whenever applicable
• Explain fixed and flexible budgeting. Provide an example of budgeting for three consecutive periods in which safety margin is included for flexibility.
• Explain statement of cash flows proforma and its significance in budgeting. Provide a hypothetical example of financial statements consisting of an initial balance sheet, income statement, statement of cash flows and ending balance sheet in a manufacturing enterprise.
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.