In Preparing a Master Budget for a Commercial Entity,the Last
In preparing a master budget for a commercial entity,the last schedule prepared is usually the cash budget which summarizes all the previously prepared schedules and provides all information required for control purposes.
The production budget includes detailed information as to the number of units of direct materials and the number of direct labour hours required for each budget period for a manufacturing business.
On a budgeted balance sheet,the cash number is the ending cash balance as projected by the cash budget.
On a budgeted balance sheet,the retained earnings number is the net income number as projected by the budgeted income statement.