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Visit a small local business and arrange to meet with the store's manager or owner. Ask this person the following questions about budgeting at his
Visit a small local business and arrange to meet with the store's manager or owner. Ask this person the following questions about budgeting at his or her enterprise and prepare a memo to your instructor summarizing your findings. a. How often does the company compare actual results to its budget? b. Who prepares this comparison? Is it someone internal or external to the business? c. Are variances investigated? d. What dollar or percentage threshold does the company use when deciding whether or not to investigate a variance? e. How does variance analysis affect evaluation of employee performance? f. How does variance analysis affect future planning? Visit a small local business and arrange to meet with the store's manager or owner. Ask this person the following questions about budgeting at his or her enterprise and prepare a memo to your instructor summarizing your findings. a. How often does the company compare actual results to its budget? b. Who prepares this comparison? Is it someone internal or external to the business? c. Are variances investigated? d. What dollar or percentage threshold does the company use when deciding whether or not to investigate a variance? e. How does variance analysis affect evaluation of employee performance? f. How does variance analysis affect future planning
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