About budgeted financial statements

[aDiDas]

meron bang tinatawag na budgeted balance sheet? yung mga 3 year budget.

o para lang sa income statement?

[llj]

Yes there is a budgeted balance sheet pre....... below is the technical definition

Schedule for expected assets, liabilities, and stockholders' equity. It projects a company's financial position as of the end of the budgeting year. Reasons for preparing a budgeted balance sheet follow: (1) discloses unfavorable financial condition that management may want to avoid; (2) serves as a final check on the mathematical accuracy of all other budgets; and (3) highlights future resources and obligations.

As mentioned above, it projects a company's financial position as of the end of the budgeting year.  Example of this is if the company is planning to expand their operation, certain equipment, land or building should be acquired, the balance sheet will show if the company's cash flow from operation will be sufficient enough to finance the expansion or should the owners or stakeholders need to obtain some loan from third party or if need to induce more capital.

[aDiDas]

ok thanks, un nga din ang alam ko siguro isa it sa pagkakaiba ng swedish system of accounting. minali yung case ko lol IS lang daw may budget. karma sau brad

[whizkid478]

ah okay palang tong site na to dami mo matutunan.

[shakiralala]

Check yan!informative nga ang site na eto! 

[Patola]

@aDiDas  Meron pong ginagawang budgeted balance sheet pero usually for a fiscal year period lang.

Sira ulo ang gagagawa ng 3 years budgeted balance sheet since ito'y isang projection lang on how the financial position appears to be reasonable.

Dahil kahit po sa normal financial reporting every fiscal year lang ang kinukuha how come pa sa isang budgeted lang.

Sana nakatulong ng konte tong sinabi ko...

[kyiochi2004]

@aDiDas i think namisunderstood mo yung sinabi seo...may point naman sya kasi na IS lang ang pnproject ng isang company, so normally we prepare budgets for 1 year, 3 years and sometimes may 5 years projections/budget pa...

Now magkakaron ka rin ng budgeted Balance sheet kasi yung figures reflected on the balance sheet is directly impacted by your projections in your IS.  Meaning kung ano yung result ng IS mo, lalabas yun dapat sa Balance sheet mo (i.e. kung mataas ang benta at collection, lalaki ang cash mo sa bs mo)...That's why if you prepare a 3 years IS forecast you can also prepare a 3 year BS.

Yung IS kasi, summary sya ng report for a period of time (i.e. Jan. - Dec. 2016) while yung balance sheet mo is a report for a specific date/time (As of Dec. 31, 2016 or As of Jan. 31, 2017).

Hope nakatulong...