Project 4: Training Room 2

1. Project 4

1.6. Training Room 2

Project 4: Budgeting

Training Room 2: Preparing a Budget

Suggested Time: 80 minutes

Training Room Introduction

This image show a cartoon character of a young woman.

A cartoon shows a picture of a boy looking surprised while reading his report card.

You have decided that you need a plan. You are going to study more, attend classes regularly, complete all of your assignments, and attend a math tutorial class once a week. You realize that your original 70% goal is unrealistic, so you set a new goal of 60% for the next report card. You have looked at your historical information and adjusted your future expectations while setting in motion a plan to improve.

A business looks at its operation in much the same way. To collect all of its records together, a business completes budget reports. A business will decide what type of budget is needed depending on what kind of business it is, the size of the business, and what the business goals are.

People in a business prepare budget reports to chart progress, to develop a plan, and to grow and prosper.

This training room will show you how a business prepares the two most common types of budget reports: a budgeted income statement, and a cash budget.