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. Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC), Green Pastures Static Budget Income Statement 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. Scenario: 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 minimum 700-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®. Format the assignment consistent with APA guidelines.Click the Assignment Files tab to submit your assignment.Reference:Kimmel, P.D., Weygandt, J.J., & Kieso, D.E. (2016). Accounting: Tools for Business Decision Making (6th ed.). Hoboken, NJ: John Wiley & Sons.Please note that I cannot accept more than 5% of plagiarism, I will need to upload to TurnItIn. Use grading guide attached to make sure you cover every aspect.Let me know if you need anything!

Prior to completing this discussion, read Chapters 19, 21, 22, 23 in your course text. For your initial post, answer the following questions:What is working capital, and how would you calculate it?How can the healthcare organization improve their working capital?What are the great approaches for cash management? If you were the controller in charge of managing cash, what methods would you take, and why?=Your initial post must be 300 to 350 words.

Please answer each question, min 75 words each.1. Imagine you are preparing a business’s cash budget, which involves determining the amount of cash to keep on hand. How might the nature of the business affect your decision? Provide specific examples in your response.2. What is a flexible budget? What types of organizations may use flexible budgets? Why are flexible budgets useful?3. Why is effective budgeting critical to a company's success4. What is a flexible budget? What types of organizations might use flexible budgets? Why are flexible budgets useful?5. What are variances and why do these occur?6. What factors would you consider when deciding whether to investigate a variance?7. Why is it important for management to understand how a budget is prepared?8. What is a balanced scorecard? What are the four scorecard perspectives identified and the objectives of each?Reference:Kimmel, P.D., Weygandt, J.J., & Kieso, D.E. (2016). Accounting: Tools for Business Decision Making (6th ed.). Hoboken, NJ: John Wiley & Sons.