How should budgetary comparisons mandated in connection with basic financial statements be described?

Budgetary comparisons associated with basic financial statements are commonly described as either statements or schedules. Both terms can accurately represent the presentation of budgetary information, which is a critical component in governmental accounting.

In the context of governmental financial reporting, budgetary comparisons provide insights into how actual financial outcomes align with the budgeted figures. This comparison typically includes information on the original budget, any amendments, and the final budget, alongside actual revenues and expenditures.

The term "statements" can refer to a structured format that presents these comparisons within the context of the overall financial statements, integrating them as a part of the financial reporting process. Conversely, "schedules" often imply a more detailed breakdown of budgetary information, essentially serving as supplementary data that provides the necessary context and support for the main financial statements.

Both descriptors are valid in the context of governmental financial reporting standards, reflecting the flexibility in how budgetary comparisons can be presented. Therefore, choosing either term is acceptable and represents an understanding of the reporting requirements stipulated by the relevant accounting standards.