ACC561 University of Phoenix Green Pastures Static Budget Income Statement

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Purpose of Assignment This comprehensive case requires students to evaluate a static budget and prepare flexible budgets to meet managerial needs. Students are required to calculate and analyze variances and discuss how variances are critical to managerial decision making. ResourcesManagerial Analysis Grading GuideGreen Pastures Static Budget Income Statement Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC)Tutorial help on Excel® and Word functions can be found on the Microsoft Office website. There are also additional tutorials via the web offering support for Office products. Assignment StepsScenario: Green Pastures is a 400-acre farm on the outskirts of the Kentucky Bluegrass, specializing in the boarding of broodmares and their foals. A recent economic downturn in the thoroughbred industry has led to a decline in breeding activities, and it has made the boarding business extremely competitive. To meet the competition, Green Pastures planned in 2017 to entertain clients, advertise more extensively, and absorb expenses formerly paid by clients such as veterinary and blacksmith fees.The budget report for 2017 is presented as an attachment. As shown, the static income statement budget for the year is based on an expected 21,900 boarding days at $25 per mare. The variable expenses per mare per day were budgeted: feed $5, veterinary fees $3, blacksmith fees $0.25, and supplies $0.55. All other budgeted expenses were either semifixed or fixed.During the year, management decided not to replace a worker who quit in March, but it did issue a new advertising brochure and did more entertaining of clients. Develop a 700-to 1050-word examination of the financial statements and include the following based on the static budget report:What was the primary cause(s) of the loss in net income?Did management do a good, average, or poor job of controlling expenses?Were management’s decisions to stay competitive sound?Prepare a flexible budget report for the year.Based on the flexible budget report:What was the primary cause(s) of the loss in net income?Did management do a good, average, or poor job of controlling expenses?Were management’s decisions to stay competitive sound?What course of action do you recommend for the management of Green Pastures?Show your work in Microsoft Word or Excel. Complete calculations/computations using Microsoft Word or Excel. Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount! Use Discount Code “Newclient” for a 15% Discount!NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you. The post ACC561 University of Phoenix Green Pastures Static Budget Income Statement appeared first on Top Premier Essays.”Do you need a similar assignment done for you from scratch? We have qualified writers to help you with a guaranteed plagiarism-free A+ quality paper.