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Home Budgeting and Planning Budgeted Income Statement
 

Budgeted Income Statement:

Definition and Explanation:

A budgeted income statement can be prepared from the data developed in:

The budgeted income statement is one of the key schedules in the budget process.

It shows the company's planned profit for the upcoming budget period, and it stands as a benchmark against which subsequent company performance can be measured.

Example | Sample of Budgeted Income Statement:

Following schedule contains the budgeted income statement for Hampton Freeze Inc.

Hampton Freeze Inc.
Budgeted Income Statement
For the Year Ended December 31, 2009

 

Other Budgets References

 
Sales Sales budget $2,000,000
Less cost of goods sold* Sales budget, Ending finished goods inventory budget 1,300,000
    --------------
Gross margin   700,000
Less selling and administrative expenses Selling and administrative expense budget 577,800
    --------------
Net operating income   122,200
Less interest expense Cash budget 14,000
    --------------
Net income   $108,200
    ======

You may also be interested in other articles from "Budgeting and planning" chapter:

  1. Profit Planning
  2. Participative or Self Imposed budgeting
  3. Human Factors in Budgeting
  4. Zero Based Budgeting (ZBB)
  5. Budget Committee
  6. Master Budget
  7. Sales Budget
  8. Production Budget
  9. Inventory Purchases Budget for a Merchandising Firm
  10. Material Budgeting | Direct Materials Budget
  11. Labor Budget
  12. Manufacturing Overhead Budget
  13. Ending Finished Goods Inventory Budget
  14. Selling and Administrative Expense Budget
  15. Cash Budget
  16. Budgeted Income Statement
  17. Budgeted Balance Sheet
  18. International Aspects of Budgeting

 

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Managerial Accounting

 
Introduction to Managerial Accounting
Business and Quality Improvement Programs
Cost Terms, Concepts and Classification
Job Order Costing system
Process Costing System
Process Costing System - Addition of Materials & Beginning Inventory
Controlling and Costing Materials
Materials and Inventory Cost Control
By Products and Joint Products Costing
Cost-Volume-Profit-Relationship
Variable Costing System
Activity Based Costing System
Budgeting and Planning
Standard Costing and Variance Analysis
Gross Profit Analysis
Linear Programming Technique
Segment Reporting and Transfer Pricing
Capital Budgeting Decisions
Service Department Costing
Cash Flow statement
Financial statement Analysis
Pricing Products and Services
Managerial Accounting Terms and Definitions
Managerial / Cost Accounting Formulas

Financial Accounting

 
Bookkeeping and Bookkeeping Terms
Accounting Principles and Accounting Equation
Journal
Ledger
Accounting For Bills of Exchange
Subdivision of Journal
Final Accounts
Capital and Revenue Items
Single Entry System/Accounting From Incomplete Records
Accounting For Non-Trading Concerns
Accounting for Consignment / Consignment Accounts
Accounting for Joint Ventures
Accounting for Depreciation

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