Profit and Loss
1) We are working on the Profit and Loss and only changing the BUDGETED revenue and BUDGETED Net Profit figure
The current Budgeted Revenue and Budged Net Profit figure is as follows:
Current Budgeted Revenue : 200
Current Budgeted Profit: 160
His request is to:
increase revenue number to PLUS70 on the profit target
All we are looking at is adjusting the BUDGETED Figures. Actuals per the P&L will be compared to the above budgeted figures.
What do I need to do - do I just increase both revenue and net profit by 70K.
(I know I sound ignorant, but never went to work for him as a bookkeeper!!
We do not sell anything in terms of fixed goods. It is simply revenue in terms of our time charged to external parties.
Hopefully that helps. Again - I appreciate the time and effort you have all given to me. I am sorry I did not make myself clear to you. I have asked him for an explanation and was told that it is obvious what I have to do and need to deliver by Monday!
Thanks again - hopefully I will be able to help you all out.
Click here to post comments
Join in and write your own page! It's easy to do. How? Simply click here to return to Profit and Loss Statement Questions.
Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you each month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.