Provide a summary of these accounting concepts: Accounting for decision making:flexible budgets, standard cost systems; variance analysis; cost allocation; planning with budgets, and responsibility accounting. Other concepts include Short term business decision making and maximizing profits. .

Additionally, here are some topics to consider:

• Why do companies budget?What are the benefits?
• What can budgets be used for when evaluating company/department performance?

Reference

ch 21 & 22 athttp://www.principlesofaccounting.com/