LESSON 24: Lists are the basic layout, or format, of yo Articles

LESSON 24: Lists are the basic layout, or format, of your plans, budgets and forecasts – so make sure all your lists are compatible

 It helps to keep in mind that your accounting system and the financial reports it generates are arranged in the form of lists, and to a large extent the same is true of your planning model and the reports it generates. As each individual transaction is recorded in your accounting system it is classified by […]

24.1 Ensure the headings you use in your plan are comparable with those in your accounts

 You will group similar transactions together in your accounting records. You should use a compatible grouping system in your plan for all your sales and costs, so your plan and accounts can be compared. Your aim in setting your plan is two-fold. One is to be able to predict your finances (sales, costs, profit, cash […]