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Accounting 3--Chapter 14 Terms and Definitions

AB
Budget PeriodThe length of time covered by a budget.
BudgetingPlannign the financial operations of a business.
BudgetA written financial plan of a business for a specific period of time, expressed in dollars.
Budget PeriodThe length of time covered by a budget.
Comparative Income StatementAn income statement containing sales, cost, and expense information for two or more years.
Sales Budget ScheduleA statement that shows the projected net sales for a budget period.
Purchases Budget ScheduleA statement prepared to show the projected amount of purchases that will be required during a budget period.
Selling Expenses Budget ScheduleA statement prepared to show projected expenditures ralted directly to the selling operations.
Administrative Expenses Budget ScheduleA statement that shows the projected expenses for all oeprating expenses not directly related to selling operations.
Other Revneue and Expenses Budget ScheduleBudgeted revenue adn expenses from activities other than normal oepration are show in a statement.
Budgeted Income StatementA statement that shows a comapny's projected sales, costs, expenses, and net income.
Cash Receipts Budget ScheduleProjected cash receipts for a budget period are reported on a statement.
Cash Payments Budget ScheduleProjected cash payments for a budget period are reported on a statement.
Cash BudgetA statement that shows for each month or quarter a projection of a company's beginning cash balance, cash receipts, cash payments, and ending cash balance.
Performance ReportA report showing a comparison of projected and actual amoutns for a specific period of time.


Business Teacher
Shawnee High School
Medford, NJ

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