Task $1$ Identify and explain three $(3)$ key roles of the budgeting process within SMBS$.$ Task $2$ Describe the budgeting process i$.$e$.$ what steps would SMBS need to undertake to develop a budget. Task $3$ Explain the different forecasting methods that can be used when preparing a budget $($use at least $2$ different forecasting methods$).$ Task $4$ When preparing the budget, you will use both descriptive and inferential statistics to assist with decision making, and in analysing variances. Accordingly, clarify the following to the business managers at SMBS: a$)$ Explain the difference between descriptive and inferential statistics. b$)$ Explain how descriptive and inferential statistics assist with preparing the budget and measuring variances. Task $5$ Explain the following: a$)$ What is a budget variance? In your response discuss favourable and unfavourable variances. b$)$ Explain how budget variances can be caused by controllable or uncontrollable factors $($provide examples for each$).$ c$)$ What actions would you need to take once a variance has been identified? d$)$ What is the purpose of variance analysis? Task $6($A$)$ Send an email to Michelle $($your assessor$)$ confirming your understanding of the budget objectives and list the specific budgets that you will prepare.