Income Statement Generator QUARTERLY VARIANCE

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Income Statement Generator QUARTERLY VARIANCE Powered By Docstoc
					         QUARTERLY VARIANCE ANALYSIS FORM

                            Cells that your data can be entered into.
                            Protected cells that contain formulas to assist you.


Step 1   Enter Chart Code                                   Enter Fiscal Year
         Enter Org Code                                   Enter Fiscal Quarter


Step 2   Using the PDQ Generator, run the following reports: Income Statement - Comparison to Budget and Prior Year - Object Level Detail, Income Statement - Comparison to Budget and Prior Year -
         Object Code Detail, Balance Sheet - Comparison to Prior Year, and Balance Sheet - Executive Summary
         Steps to run the PDQ Generator and detailed instructions can be accessed here.



         INCOME STATEMENT ANALYSIS
         Report(s) to be used to identify variances for Steps 3, 4, 5, 6 - Income Statement - Comparison to Budget and Prior Year - Object Level Deatil, and Income Statement - Comparison to Budget
Note     and Prior Year - Object Code Detail

                                                                                      Income
                                                                Actual Year to       Statement
                                                                Date Revenue         Materiality
Step 3   Enter Actual Year to Date Total Revenue                                   $      25,000

Step 4   Please provide an explanation for all object LEVEL variances to budget and prior year greater than materiality (see step 3).

         Report(s) to be used - Income Statement - Comparison to Budget and Prior Year - Object Level Deatil, and Income Statement - Comparison to Budget and Prior Year - Object Code Detail

           Object Level         Actual           Budget              Prior             Variance                                                  Explanation
                                                                                   $               -
                                                                                   $               -
                                                                                   $               -
                                                                                   $               -
                                                                                   $               -
                                                                                   $               -
                                                                                   $               -
                                                                                   $               -
                                                                                   $               -
                                                                                   $               -


Step 5   Please provide the information below if your org has inventory for resale recorded on the Balance Sheet.

                                                                    Actual              Prior
         Year to Date Total Revenue from Goods Sold
         Year to Date Total Cost of Goods Sold
         Gross Margin                                                     0.0%                  0.0% Explanation not required as variance < 5%
                                                                     Variance                   0.0%
         Date of Last Physical Inventory (mm/dd/yy)
            BALANCE SHEET ANALYSIS - ASSETS AND LIABILITIES ONLY (EXCLUDE FUND BALANCE)

Note        Report to be used to identify variances for Step 6 - Balance Sheet - Executive Summary
Note        Report to be used to identify variances for Steps 7 and 8 - Balance Sheet - Comparison to Prior Year


Step 6      Please provide an explanation for all object LEVEL variances to prior year greater than 30% AND $10,000 .
Step 7      Please provide an explanation for all object CODE balances that have not changed since prior year ( excluding Capital Assets, Revolving Fund, etc. )
Step 8      Please provide an explanation for all negative object CODE balances ( excluding Allowances for Bad Debt, Inventory and Depreciation ).

            Obj. Code/Level         Actual             Prior           Variance       Explanation
        1                                                          $              -
        2                                                          $              -
        3                                                          $              -
        4                                                          $              -
        5                                                          $              -
        6                                                          $              -
        7                                                          $              -
        8                                                          $              -
        9                                                          $              -
       10                                                          $              -



Step 9      As part of the quarterly variance analysis procedures, Auxiliary Accounting will be comparing changes in Total Revenue, Net Income, Total Assets, and Total Liabilities
            for your organization from one quarter to the next. A consultant may contact you with follow-up questions in this regard.

            If you believe that Auxiliary Accounting needs to be made aware of any out of the ordinary accounting activity that occurred this quarter related to these figures,
            please provide your response here. Examples of such events could be – an accrual entry was missed, income was not deferred as planned, expenses
            that were not included in the budget etc.

				
DOCUMENT INFO
Description: Income Statement Generator document sample