Aging is an important process when it comes to cheese making. When the cheese is all ready to go out, it is given a aging time. It is this aging period that defines the flavor, taste and aroma of any cheese. Edam cheese ages well and with time it is much better. Different cheese varieties have different aging periods.
This chapter introduces flexible budgets. The most common budgets prepared on a flexible basis focus on total production costs, or some measure of profitability, such as an income statement budget. Flexible budgets are useful for performance evaluation of cost and profit centers.
The concept behind strategic budgeting is that spending is purposeful, and that's why tying spending to a strategic plan's objectives makes sense. If an organization revises its long-term plan, it can adjust its budget document for the next year accordingly.erformance Monitoring. Another advantage of the strategic budget comes later, in the implementation phase of the budget. Called budgetary control or performance monitoring, this is the phase in which the organization considers how each program area spends compared with its budget allocation.