This module is all about budgeting (Chapters 8 - 10). Creating budgets, comparing results, and making decisions based on the results. Consider the following: 1. How is a flexible budget different from a master (planning) budget? 2. Why do companies need flexible budgets? 3. How are Activity Variances different from Revenue and Spending Variances? Why is it important that management understands and evaluatesthese variances? 4. What are a few common errors companies encounter when preparing flexible budgets