Course: Budgeting- A Comprehensive Guide

Author: Steven Bragg

Course ID: AACSBBGY

CPE Hours: 15

Format: PDF

Price: $129.75 

Course Description

Budgeting: The Comprehensive Guide shows how to create a budget, whether there are variations on the traditional budgeting concept that may work better, and how to operate without any budget at all. The discussion also covers capital budgeting, flexible budgeting, zero-base budgeting, and all of the procedures, controls, and reports needed for a functioning budget system.

Delivery: Internet/Interactive

NASBA Category: Accounting

Learning Objective

After reading the materials, participants will be able to:

• Describe the reasons both in favor of and against the use of budgets.
• Describe how the various components of the budget are assembled to create a complete budget package.
• Describe how to create a revenue budget.
• Demonstrate how to construct an ending finished goods inventory budget.
• Explain how to construct and test a production budget.
• Describe how to construct a direct materials budget.
• Demonstrate how to construct a direct labor budget.
• Explain how to construct a manufacturing overhead budget.
• Describe how to construct and test a cost of goods sold budget.
• Describe how to create a sales and marketing budget.
• Describe how to create and follow up on a research and development budget.
• Describe the contents of the administration budget and how to construct it.
• Understand the various methods for reviewing a capital budgeting proposal.
• Demonstrate how to construct the various components of a compensation budget.
• Demonstrate how to construct the income statement and balance sheet portions of a master budget.
• Explain how to construct a flexible budget, and the circumstances under which you should use it.
• Describe the situations under which costs can vary.
• Demonstrate how to set up and operate a zero-base budgeting system.
• Explain how to operate a business without using a budget.
• Discuss the methods for updating a rolling forecast, as well as the most appropriate contents of such a forecast.
• Explain the procedural steps required to complete and report on the variances from a budget.
• Explain the techniques available for improving the efficiency of the budget model and related budget formulation process.
• Describe the types of reporting formats available for the examination of budget versus actual results.
• Itemize the controls needed for the creation and ongoing use of a budget.

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Level:Overview

Overview-This program is appropriate for professionals at all organizational levels

Prerequisites:None

Updated/Revised: September 2011