LO 7.3What is the process for developing a budgeted balance sheet?

Answer and explanation:

The budgeted balance sheet is an accounting report stating the current period's initial balance for each account according to the results of the previous period. After that, managers consider the investment and expenditure plans for the current period to schedule the company inflows and outflows. Finally, government policies are taken into consideration to find out how they can affect the company's projection in the short and long run.