Skip main navigation

New offer! Get 30% off your first 2 months of Unlimited Monthly. Start your subscription for just £35.99 £24.99. New subscribers only T&Cs apply

Find out more

The Budgeted Income Statement

Learn more about budgeted income statement.

The Budgeted Income Statement

With interest expenses gotten from the cash budget, Royal can prepare the budgeted income statement.

The Budgeted Balance Sheet

Royal reported the following account balances prior to preparing its budgeted financial statements:

  • Land – $50,000
  • Ordinary shares – $200,000
  • Retained earnings – $146,150 (April 1)
  • Equipment – $175,000

Budgeting in an International Environment


  • Translating foreign currency
  • Predicting inflation rates and prices in unstable economies
  • Predicting sales in countries with different consumer preferences
  • Dealing with different labour laws, social customs, and norms affecting wage rates and worker productivity
This article is from the free online

Accounting for Today’s Dynamic World

Created by
FutureLearn - Learning For Life

Reach your personal and professional goals

Unlock access to hundreds of expert online courses and degrees from top universities and educators to gain accredited qualifications and professional CV-building certificates.

Join over 18 million learners to launch, switch or build upon your career, all at your own pace, across a wide range of topic areas.

Start Learning now