BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Definition: A budgeted balance sheet is a report that management uses to predict the levels of assets, liabilities, and equity based on the budget for the current accounting period.

Detailed explanation-2: -A balance sheet is a financial statement that reports a company’s assets, liabilities, and shareholder equity. The balance sheet is one of the three core financial statements that are used to evaluate a business. It provides a snapshot of a company’s finances (what it owns and owes) as of the date of publication.

Detailed explanation-3: -Overview: The balance sheet-also called the Statement of Financial Position-serves as a snapshot, providing the most comprehensive picture of an organization’s financial situation. It reports on an organization’s assets (what is owned) and liabilities (what is owed).

Detailed explanation-4: -A balance sheet reports financial information on a specific date and includes the assets, liabilities, and owner’s equity. A balance sheet reports information about the elements of the accounting equation.

Detailed explanation-5: -What is a Budgeted Balance Sheet? The budgeted balance sheet contains all of the line items found in a normal balance sheet, except that it is a projection of what the balance sheet will look like during future budget periods.