ABSTRACT
At the end of this chapter you should:
Understand the purpose of a set of management control reports.
Know how to prepare a flexible budget and undertake a reasonably simple variance analysis.
Know the different variances that can lead to actual results differing from budgeted ones.
Understand the distinction among business-like units, fixed-resource units,and fixed-job units.
Know the distinction between information reports and performance reports.
Know the criteria for a good set of management control reports.