Podcast
Questions and Answers
Which of the following is included in projected income?
Which of the following is included in projected income?
- Long-range financial plan
- Staff pay raises
- Actual expenses
- Anticipated professional income (correct)
What should projected income be adjusted for?
What should projected income be adjusted for?
- Long-range planning targets
- Previous year's records
- Current and projected economy (correct)
- Extraordinary conditions
What are projected expenses based on?
What are projected expenses based on?
- Long-range financial plan
- Previous year's records (correct)
- Changes in expenses
- Staff requirements
What can cause changes in projected expenses?
What can cause changes in projected expenses?
How are profits usually estimated?
How are profits usually estimated?
What can an architect use to help prepare an annual budget?
What can an architect use to help prepare an annual budget?
What should budgeting and long-range financial planning include appropriate salaries for?
What should budgeting and long-range financial planning include appropriate salaries for?
What should projected expenses be adjusted for?
What should projected expenses be adjusted for?
Which of the following is true about financial planning in architectural practice?
Which of the following is true about financial planning in architectural practice?
What is the starting point for the financial plan in architectural practice?
What is the starting point for the financial plan in architectural practice?
What does short-term financial planning in architectural practice primarily cover?
What does short-term financial planning in architectural practice primarily cover?
What should be constantly monitored in the budgeting process in architectural practice?
What should be constantly monitored in the budgeting process in architectural practice?
What does the financial plan in architectural practice help resolve in case of downsizing?
What does the financial plan in architectural practice help resolve in case of downsizing?
What line items are based on the revenue forecast in the financial plan in architectural practice?
What line items are based on the revenue forecast in the financial plan in architectural practice?
Why is the budget in architectural practice compared to the previous year's revenue and expenses?
Why is the budget in architectural practice compared to the previous year's revenue and expenses?
