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Continuing with the company selected in Unit 2, discuss how the income statement budget would be created for a year starting with the sales budget through the SG&A budget. Be sure to: • Be specific in describing the component line items of each • Identify the individuals that would be involved in developing the budgets

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ogorwyne

For a given year, the income statement budget is created through the use of predictions and fore casting.

What is the income statement budget?

This is the budget that is made up of the revenue, the expenditure and the profit for a particular year.

The financial report from the former year and the budget for the new period is what is taken into account.

The individuals that develop the  income statement budget would be the accountant.

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