Financial Review Report Template

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Purpose

The purpose of this report is to compare the actual financial results of the Grow Management Consultants for the fiscal year 2018-2019 with the budgeted results. 

Overall performance for the year

  • The actual revenue income ($1,614,720) for the year was greater than the budgeted revenue income ($1,537,000).
  • Moreover, company also slightly manage to reduce its actual expenditures to $831,713 from its budgeted expenditures of $ 833,373.
  • The overall actual profit was greater than the budgeted profit of the next year.
  • Moreover, company will replace workshop with conference and Publishing with E-Book in its income streams in 2018-2020 so variance results will show the comparison between workshop/conference and E-Book/Publishing. 

Variation between actual and budgeted income amounts 

Income Source (list all income accounts) Budgeted amount Actual amount earnt Difference
Consulting fees $1,320,000 $1,410,720 -$90,720
Conference $75,000 $45,000 $30,000
E-Book $10,000 $15,000 -$5,000
Executive Search $132,000 $144,000 -$12,000

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