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ACCT 311 Discussion 3

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Each member of the group will select one question below. You may not select a question that has already been posted by another group member. Please be sure that you clearly identify the question number you have selected.
1. “As a practical matter, planning and control mean exactly the same thing.” Do you agree or disagree with this statement? Explain.
2. What are some of the possible reasons that actual results may differ from what had been budgeted at the beginning of the period?
3. How does a flexible budget based on two cost drivers differ from a flexible budget based on a single cost driver?
4. Relate the IMA standard of confidentiality to Biblical principles.
5. Relate the IMA procedure for resolution of ethical conflict to Biblical principles.

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