Budgets and Financial Statements | Report

Added on -2020-02-14

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Management Accounting
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3PART 1............................................................................................................................................31. Sales budget in units and Revenue...........................................................................................32. Cash receipts budget................................................................................................................33. Cash payment budget...............................................................................................................44. Summary cash budget..............................................................................................................45. Preparation of income statements............................................................................................46. Preparation of balance sheet....................................................................................................67. Explain the purpose of budgeting............................................................................................78. Importance of cash budget and improvement in the cash position..........................................79. Interaction of human behavior with budgeting process...........................................................8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................92
INTRODUCTIONCurrent role of organizations has increased with the external market difficulties inbusiness environment. Pele company has been selected for the given project report whosedecisions are taken by using various approaches. The current project report is all about preparingseveral budgets and preparing financial statements.PART 11. Sales budget in units and RevenueParticularsJanuaryFebruaryMarchSales units100000115000132250ParticularsJanuaryFebruaryMarchSales units100000115000132250Sales price888Total revenue80000092000010580002. Cash receipts budgetParticularsJanuaryFebruaryMarchProjected sales8000009200001058000Cash sales(25%)200000230000264500Collection from debtors(W.N.1)472500540000621000Total cash receipts672500770000885500Working notesParticularsJanuaryFebruaryMarchCredit sales(75%)525000600000690000Collection from debtors4725005400006210003. Cash payment budgetParticularsJanuaryFebruaryMarch3

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