On a Statement of Revenue and expense I have one year plus the percentage of change and I need to find the projected budget for next year Where can I find how to to do this problems
To find the projected budget for next year based on a Statement of Revenue and Expense, you can use the percentage of change method. Here is how you can do it:
1. Identify the year for which you have the revenue and expenses data (let's call it Year 1).
2. Determine the percentage change in revenue and expenses from Year 1 to the projected year (Year 2). The percentage change is calculated by subtracting the Year 1 value from the Year 2 value, dividing the result by the Year 1 value, and multiplying by 100.
3. Apply the percentage change to the Year 1 values to calculate the projected values for Year 2. To calculate the projected revenue for Year 2, multiply the revenue in Year 1 by (1 + percentage change/100). To calculate the projected expenses for Year 2, multiply the expenses in Year 1 by (1 + percentage change/100).
For example, let's say the revenue in Year 1 is $100,000 and the expenses are $80,000. If the percentage change for both revenue and expenses is 10%, the projected revenue for Year 2 would be $100,000 x (1 + 10/100) = $110,000, and the projected expenses for Year 2 would be $80,000 x (1 + 10/100) = $88,000.
To find more detailed explanations and examples, you can refer to accounting textbooks, financial management books, or search online resources using keywords like "projected budget calculation" or "percentage change method in financial forecasting." These references should provide step-by-step instructions and practical examples to guide you in solving such problems.