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Lesson 14-1 Budget Planning

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Presentation on theme: "Lesson 14-1 Budget Planning"— Presentation transcript:

1 Lesson 14-1 Budget Planning
4/29/2019 LESSON 14-1 Budget Planning RED

2 BUDGET FUNCTIONS Planning Operational control Department coordination
Lesson 14-1 4/29/2019 BUDGET FUNCTIONS page 413 Planning Operational control Department coordination LESSON 14-1 RED

3 BUDGET PERIOD Long-range budget Annual budget Quarterly budget
Lesson 14-1 4/29/2019 BUDGET PERIOD page 413 Long-range budget Annual budget Quarterly budget Monthly budget LESSON 14-1 RED

4 SOURCES OF BUDGET INFORMATION
Lesson 14-1 4/29/2019 SOURCES OF BUDGET INFORMATION page 414 Company records General economic information Company staff and managers Good judgment LESSON 14-1 RED

5 COMPARATIVE INCOME STATEMENT
Lesson 14-1 4/29/2019 COMPARATIVE INCOME STATEMENT page 415 LESSON 14-1 RED

6 INTERPRETING THE COMPARATIVE INCOME STATEMENT
Lesson 14-1 4/29/2019 INTERPRETING THE COMPARATIVE INCOME STATEMENT page 416 Compare the percentage change in expenses or costs to the percentage change in sales. Effect on net income If the % increase  in expenses or costs > the % increase  in sales, net income  decreases. Unfavorable If the % increase  in expenses or costs < the % increase  in sales, net income  increases. Favorable If the % decrease  in expenses or costs > the % decrease  in sales, net income  increases. If the % decrease  in expenses or costs < the % decrease  in sales, net income  decreases. LESSON 14-1 RED

7 TERMS REVIEW budgeting budget budget period
page 417 budgeting budget budget period comparative income statement LESSON 14-1

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