Projected & Estimated Balance Sheet
This query is : Resolved
C.A. Pulkit Garg
(Querist)
03 June 2016
Dear Expert,
Can u please provide me with a performa to prepare Projected and Estimated Balance sheet. What are the things that need to be kept in mind while preparing the same
CA Rohit Jain
(Expert)
03 June 2016
for whom you want to prepare.... for company follow schedule III ... for firms and individuals follow general T shaped balance sheet formats
CA Rohit Jain
(Expert)
03 June 2016
better to take last year financials and add a new column for current financial year and fill details
C.A. Pulkit Garg
(Querist)
03 June 2016
what things do we need to keep in mind while preparing projected balance sheet
CA Rohit Jain
(Expert)
03 June 2016
As most projected financials are based on assumptions, you must ensure that assumptions are reasonable or not. Sources of data should be scrutinized properly. Increase in turnover should match with COGS. Expenditure should also increase with the increase in sales. Taxation should remain constant.
CA Rohit Jain
(Expert)
03 June 2016
Assets:
Fixed assets: Increase and decrease should be done considering management's plan for expansions. Depreciation should also be charged in P&L appropriately.
Current Assets:
Debtors should be increased keeping in mind credit sales percentage.
Cash & bank will be balancing figure
CA Rohit Jain
(Expert)
03 June 2016
share capital:
To increased as per the management plan for infusion or else should remain constant
Loans:
Should be decreased over the period of time.Better to obtain loan agreements and use the actual value given in it.
Working Capital loan:
Consider that the company/firm will utilise it to the maximum limit sanctioned.
Creditors: Increase keeping in mind credit purchases.
Creditors for capital goods: Consider increase in fixed assets
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CMA Ramesh Krishnan
(Expert)
05 June 2016
https://www.caclubindia.com/articles/basic-aspects-for-preparation-of-projected-financials-17807.asp
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