Budgetary Planning
Published on Nov 18, 2015
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PRESENTATION OUTLINE
Budgetary Planning
Income Statement and Balance Sheet
It might sound easy but...
What is a Budget?
A Budget is a formal written statement of management’s plans for a specified future time period, expressed in financial terms.
The Master Budget
- Operating Budgets
- Financial Budgets
Budgeted Income Statement is part of the Operating Budgets, while the Budgeted Balance Sheet is part of the Financial Budgets.
Budgeted Balance Sheet
Projection of the financial position at the end of the budget period.
Photo by Alaskan Dude
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References
- Weygandt-Kimmel-Kieso-Aly. "Managerial Accounting ."
- CCNM. "Balance Shets and Income" http://www.integrapracticemanagement.ca
