There will be two discussion questions listed below. By the due date assigned, respond to one of the discussion questions and submit your response to the Discussion Area below, using the lessons and vocabulary found in the reading. Support your answers with examples and research and cite your sources using the APA format.

Discussion Question One:

This week we are studying the Master Budget.

• What is a Master Budget?
• Describe the basic parts and how the master budget is prepared.
• Discuss the goals and advantages of doing this budget.
• Explain how a Flexible budget relates to this budget.

Discussion Question Two:

As individuals, many people just spend if they have the money in their checkbook without much planning ahead about it. Companies that do that will not survive for long. Interview an executive or upper level manager in your company, or of a local business, about the company's budgeting practices. Tell them that you are studying this in your accounting class and writing a report on the process, but obviously are not looking for any actual confidential dollar amounts. Prepare several questions for them that you think will help you to better understand the actual real-world budgeting process. Finish your discussion by asking if there are any other questions that they think you should have asked. Thank them at the time and be sure to send them an official thank you letter afterwards with a copy of what you are submitting to class. (Hint: this could be a good introduction to network for a job later).