Discuss the differences between an alert-based decision support management accountability budgeting, monitoring, and reporting system and a standard reporting system that does not provide instant management information to the decision makers.
1. Compare bottom-line financial results of using a fixed budget and a flexible budget if volumes (a) increase by 10% or (b) decrease by 10%
2. Compare the difference between an operating budget, a capital budget, and a cash budget. What are the primary elements in each budget?
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