(1) The mission ofAfter SchoolFunis to become the premier provider of after-school care for children from ages 5 through 12. At the time of the review process, management needs to be sure that the planned course of action will lead to the fulfillment of the organization's mission. Name and give an example of the next four steps that theorganization should take in articulating its strategic goals, beginning with defining a strategy.

(2) How does the high-low method estimate fixed and variable costs? What is an advantage and a disadvantage of this method?

(3) How is a G&A budget generated? What should be taken into consideration when budgeting G&A?

(4) Why is a cash budget important to prepare? Describe the cash surplus or deficit section of a cash budget

(5) What should a capital expenditure policy take into account? Why is capital budgeting important?

(6) How does a forecast reduce risk for a company? What is the qualitative approach to forecasting?

(7)What is activity-based budgeting? What is the advantage of this type of budgeting?