Budget Reporting

What is Budget Reporting? Definition: Budget reporting is the process by which a company measures its actual achievement against its targeted figures. This helps it to see if it is on track to meet its business objectives. It also enables the company to take corrective action where it is required. What...

Budgeted Balance Sheet

What is a Budgeted Balance Sheet? Definition: A budgeted balance sheet is an estimate of a company’s balance sheet at some future date. A projection is made for each account that appears in the balance sheet based on the company’s plans for the year. The accuracy of a budgeted balance sheet...

Canceled Checks

What are Canceled Checks? Definition: A canceled check is a check that has been paid into the payee’s account. It cannot be used to take out any more money from the payer’s account. What does a Canceled Check mean? A company that buys raw materials from a supplier may make payment...