Purchase Solution

Reporting Actual and Budgeted Revenues and Expenditures

Not what you're looking for?

Ask Custom Question

Actual revenues and expenditures reported on a budget and actual comparison schedule should be prepared on the same basis as budgeted revenues and expenditures, even if a cash basis is used. Do you agree with this statement? Why or why not?

Purchase this Solution

Solution Summary

This solution explains if it is correct that actual revenues and expenditures which are reported on a budget and actual comparison schedule should be prepared on the same basis. I explain the reasons why this should or should not be considered correct. A thorough explanation is provided.

Solution Preview

Yes, I agree with this statement. When the initial budget and comparison are prepared, the format and method used should be identical. When comparing variances and line items between the comparison schedule and the master budget or other budget being used, it would be most effective if both were under the same method. ...

Purchase this Solution


Free BrainMass Quizzes
Basic Social Media Concepts

The quiz will test your knowledge on basic social media concepts.

IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

Accounting: Statement of Cash flows

This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.

Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.

Operations Management

This quiz tests a student's knowledge about Operations Management