BUDGETING: notes

This section introduces budgets: purpose, main types, budget vs actual, and the planning / control link. A budget is a financial plan for a future period. It sets expected receipts, payments…

This section teaches the projected / budgeted Income Statement: format and method only. Use the paper's sales, mark-up, expenses and collection data. A Projected Income Statement forecasts expected…

This section teaches the cash budget format and method: receipts, payments, surplus/deficit, and opening/closing bank. Use only the paper's figures. Intro budgeting is 17; ethics is 20. A Cash…

This section is ethics and internal control around budgeting. You already know what a budget is, the projected income statement shape, and cash budget method. Here you judge honesty of targets…