Final answer:
Amounts in the actual column of a Budgetary Comparison Schedule are based on real financial transactions over the fiscal year. It compares actual results against budgeted figures to gauge budgetary performance, including deficits or surpluses.
Step-by-step explanation:
When preparing a Budgetary Comparison Schedule, amounts in the actual column are to be reported on the basis of the actual financial activity that has taken place. This means that the amounts reflect the real, measurable financial transactions that have occurred over the fiscal year. The fiscal year for government budgeting typically runs from October 1 to September 30 of the next year, and includes all revenue (taxes) collected and expenses (spending) incurred during this period. The purpose of the schedule is to compare the original budgeted amounts to the actual financial results to provide an understanding of the budgetary performance and the resulting annual budget deficit or surplus.
A comparison could also involve converting different currencies to a common unit of measure such as the international dollar for comparative purposes across different nations, ensuring a consistent basis for comparison by using a currency that has the same purchasing power as the U.S. dollar in the United States.