The purpose of managerial accounting is to provide budgeting and performance information to managers so that they are able to successfully direct a company or business. Flexible budgeting and overhead ...

Budgeting is how a business plans for future production cycles. An initial budget - known as a "static" budget - is a necessary planning tool; creating a second, flexible budget allows a business to ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Stella Osoba is the Senior Editor of ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. A static budget remains unchanged regardless of fluctuations in sales or production volumes.