The Clute Institute for Academic Research

This project is intended to teach students to apply the material covered in their first graduate accounting course. This is accomplished by applying the material to an actual company selected by each team. The project is described as follows: The project includes a computerized spreadsheet preparation of a master budget forecast for an actual publicly traded company for one year into the future. . The dates depend upon when the annual reports are prepared for your company. The forecast begins the day following the last available published annual report. The forecast does not comprise any actual numbers regardless of when the actual annual or quarterly statements are prepared for the company selected. The actual balance sheet, income statement and statement of cash flow from the preceding year are included with the forecasted balance sheet, income statement and statement of cash flow. The company must have a physical inventory, and accounts receivable from sales. The company may not be one in which any team member(s) are employed. The forecast will include the following items: 1. Introduction, including the history of the company and a description of the company plan and policies as given in the project 2. Sales budget (twelve months). 3. Schedule of purchases (twelve months). 4. Schedule of collection of credit sales (accounts receivable) and cash sales (twelve months). 5. Cash budget (twelve months). 6. An Income statement (for the current year and the projected year). 7. A Balance sheet (for the current year and the projected year). 8. A Statement of cash flow (for the current year and the projected year). 9. Cost-profit-volume analysis (twelve months). 10. Conclusion and recommendations