After studying Lesson 12-1, you will be able to:
- Recognize important financial questions that must be answered in a business.
- List the steps in budget preparation.
- Describe three types of business budgets.
- Log into your Google Drive account.
- Navigate to your Unit 3 folder.
- Inside of the Unit 3 folder, create a new folder titled Chapter 12. Everything you create in Chapter 12 will be stored in this folder.
- Obtain a copy of the notes handout.
- Read Lesson 12-1 on pages 288-293.
- As you read, utilize this presentation to help you fill in the missing parts on the handout.
- Create a new Google Sheets spreadsheet, name it Budget-(Your Initials), and move it into your Chapter 12 folder.
- Use the internet to locate a sample business budget. Copy and paste the web address into cell A1. Enter the entire budget into your spreadsheet. Name this sheet (Business Name) Budget.
- In a new sheet, develop a new budget by adjusting each of the income and expense items in the budget with a 3 percent increase. Name this sheet Budget Increase.
- Then develop another budget by adjusting the original income and expense items with a 1.5 percent decrease. Name this sheet Budget Decrease.