Purpose of AssignmentThiscomprehensive case requires student.
Purpose of AssignmentThiscomprehensive case requires students to evaluate a static budget andprepare flexible budgets to meet managerial needs. Students are requiredto calculate and analyze variances and discuss how variances arecritical to managerial decision making. Assignment Steps Resources:Generally Accepted Accounting Principles (GAAP), U.S. Securities andExchange Committee (SEC), Green Pastures Static Budget Income Statement Scenario: GreenPastures is a 400-acre farm on the outskirts of the Kentucky Bluegrass,specializing in the boarding of broodmares and their foals. A recenteconomic downturn in the thoroughbred industry has led to a decline inbreeding activities, and it has made the boarding business extremelycompetitive. To meet the competition, Green Pastures planned in 2017 toentertain clients, advertise more extensively, and absorb expensesformerly paid by clients such as veterinary and blacksmith fees.Thebudget report for 2017 is presented as an attachment. As shown, thestatic income statement budget for the year is based on an expected21,900 boarding days at $25 per mare. The variable expenses per mare perday were budgeted: feed $5, veterinary fees $3, blacksmith fees $0.25,and supplies $0.55. All other budgeted expenses were either semifixedor fixed.During the year, management decided not to replace aworker who quit in March, but it did issue a new advertising brochureand did more entertaining of clients. Develop Nomore than 700-word examination of the financial statements and includethe following: (Write in Word document) using headlines to state each ofthe following with explanations. 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?PART 1: Show Complete calculations / Computations and your work in Microsoft Excel . PART 2: Write no more than 700 words using Microsoft Word . Format the assignment consistent with APA guidelines.Refrences: Minimum 2 refrences and in text citations.
Purpose of AssignmentThiscomprehensive case requires student
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