The budgeted balance sheet estimates the financial condition at the end of a budget period. The budgeted balance sheet assumes that all operating budgets and financing plans are met. It is similar to a balance sheet based on actual data in the accounts.
The Revenue and Expense – Budget vs. Actual Income Statement provides budget and actuals information for each revenue and expense account for a ChartField combination in Management Format. Purpose: The report provide the same information as the official GLU007OS-90 standard monthly report produced at the close of each accounting period.
Should you require a projection covering a longer period of time, this can always be altered to show data for whole years, rather than quarters, simply by changing the text. Please see our balance sheet spreadsheet if it is a balance sheet, rather than profit or loss statement that you require.The other columns contain either the actual or budgeted ending balance sheet amounts, signified by the prefix BSE. Additional columns contain data for actual and budgeted average monthly data and actual and budgeted income data. With the data in this table, actual and budgeted reports can be produced for both the income and the balance sheet.
Royal Company uses absorption costing in its budgeted income statement and balance sheet. Manufacturing overhead is applied to units of product on the basis of direct labor-hours. The company has no work in process inventories. Computation of absorption unit product cost:21-24 The Budgeted Balance Sheet … projects an organization's financial position at the end of an accounting period • Uses all estimated data compiled in the course of preparing a master budget - Is the final step in that process