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Prepared by Diane Tanner University of North Florida

Chapter 41. Pel. Prepared by Diane Tanner University of North Florida. Financial Budgets. Includes Budgeted income statement Budgeted balance sheet Budgeted statement of cash flows Often replaced by the cash budget Combined cash receipts, disbursement, and cash balances.

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Prepared by Diane Tanner University of North Florida

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  1. Chapter 41 Pel Prepared by Diane Tanner University of North Florida

  2. Financial Budgets • Includes • Budgeted income statement • Budgeted balance sheet • Budgeted statement of cash flows • Often replaced by the cash budget • Combined cash receipts, disbursement, and cash balances 2

  3. Data comes from other budgets already prepared Budgeted Income Statement Used to determine materials used in production 3

  4. Budgeted Income Statement 4

  5. Last component of the master budget A function of all of the other budgets Also called a pro-forma balance sheet Used to assess the effect of planned decisions on future financial position Budgeted Balance Sheet 5

  6. Information Sources Cash budget Sales budget Materials purchases budget Production budget & product cost analysis Purchases budget • Beginning RE • + net income • Dividends declared • = Ending RE 6

  7. The End

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