What are the six key concepts for managerial accountants to understand when making decisions for their organizations:

Select one of the following questions to answer in your discussion:

1. Describe a flexible budget, how it works, and the associated variances?

2. What are the six key concepts for managerial accountants to understand when making decisions for their organizations:

3. Discuss volume trade-off decisions to include the terms constraint and bottleneck. provide examples.

4. Discuss the term capital budgeting. Further discuss typical capital budgeting decisions and provide examples.

5. Compare and contrast the net present value and internal rate of return methods for capital budgeting. What are the advantages and disadvantages of each?