1) One of the major tasks of the Management accountant is to set a budget. Explain some of the methods used by management accountants to set the budget and the interrelationship between the different budgets.
(30 marks)
2) What is meant by “a flexible budget”? Explain its use in performance evaluation and provide examples.
(30 marks)
3) Critically evaluate budget monitoring as a method of Performance measurement and suggest alternative methods of performance evaluation.
(40 marks)
Sample Solution
