Discussion Topic: Budgeting
Read Concepts in Action, “24 Hour Fitness and Internet-Based Budgeting” in Chapter 6.
How does the strategic plan influence preparation of the master budget?
How does budgeting provide important information to managers and operating personnel?
Explain how 24 Hour Fitness uses its budgeting system to complete annual budgets and to make major decisions to improve future profitability. What are some examples of “what-if” scenarios that management might consider