Target Financial Statement

A target financial statement, as the term clearly suggests, is a layout of all financial transaction conducted and their respective and accurate representation in balance sheet as income statements and cash flow reports. Such a statement can be prepared by any profit-making organization, such as a business firm, educational institutes, multinational companies, etc. as well as by some individual so as to assess the financial improvement on the basis of achievement of economic target.

Sample Target Financial Statement:

Name of the Company: TechnoMantra Pvt. Ltd.

Address: 56-B/ I, Lakshmi Apartment

Ring Road, Gurgaon

Contact details: 0124 – 76893480

Website: www.technomantra.com

Target financial statement prepared on: 4th July, 2011

Financial statement prepared by: Mr. Vishal Aggarwal

General Manager

Department of Finance and Accounts

Objectives of target financial statement:

  • To provide a clear report of all transactions conducted in the given fiscal year.
  • To study all facts and figures accurately.
  • To compare figures with the target turnover.
  • To provide a comprehensive statistics of all differences, be it major or minor.
  • To devise strategies for covering up for all losses and also to maintain the profit level, as the case may be.

Target financial statement for 1st January – 30th June, 2011

Financial Particulars                                                                                                   Amount ($)

  • Income from Revenues                                                                                           650000
  • Cost of raw materials purchased                                                                           530000
  • Sales income                                                                                                        1780000
  • Depreciation costs                                                                                                   38000
  • Amortization expenses                                                                                              9000
  • Expenses on Income Taxes                                                                                   125000
  • Interest amounts                                                                                                        7800
  • Income from other investments                                                                               76000
  • Administration and general sales costs                                                                    59000
  • Operational earnings                                                                                                48000

_________________________________________                                                     __________

Net profit                                                                                                              1785200

Target profit                                                                                                             1560500

____________________                                                                                             ___________

Gross income                                                                                                                       224700

__________________________

[Signature of Accounts Manager]

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