week 4 budget abd profit loss

Budget and Profit and Loss Statement

Purpose of
Assignment

The purpose of this assignment is to
allow students to gain the necessary knowledge to manage cost and determine
project viability through capital budgeting techniques, so they can effectively
minimize the cumulative error between the projected values and actual values
over the relevant time horizon.

Note: The official term Income Statement is also known informally as Profit and
Loss Statement.

Assignment
Steps

Analyze the revenue items based on information collected and make adjustments as
suggested by your instructor.

Create a 350-word Profit and Loss Statement following the income statement
format.

Conduct an internet search or use the example located in the textbook for the
course

Instructor notes

want to make sure everyone understands what is needed for
our Week 4 assignment. What we need this week is for you to generate an income
statement for a fictitious company that you might want to start (not a real
company). You are to use a similar type company that you find on the internet
as an example. You’ll see that the word count is very low that’s because the
income statement itself does not count in the word count. What counts is an
explanation of the how you got the main numbers, so that won’t be much
verbiage. So it can’t be a real company and you need an explanation of how you
arrived at the main numbers. It makes the most sense to do it for the first
year of operations but that is just a suggestion. Hope this helps, as always,
let me know if you have any questions.

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