Accounting Discussion Questions- Wk 7

Each DQ 150- words +. Cite work with reference. Post answer an attachment 

 ·         What do you think is the major purpose of financial statements? Why? Explain what type of information can be derived from financial statements. List references if you use a source other than the text.

 ·         Why is budgeting so important? What are the appropriate uses of a budget? How can budgets be mismanaged or misunderstood? What are some criteria you would use to choose between a fixed and a flexible budget? Explain your answers.