Budgeting - Online

Modern businesses are an epitome of uncertainty and complexity. Over the period, this uncertainty and complexity in business has led to the development of various managerial tools, techniques and procedures useful in managing business successfully. Of all these, budgeting is the most common and widely used standard device for planning and control. This course provides fundamental understanding of budgeting, budgeting process and includes a practical guide for preparing and mastering financial budgets.

This is an online self study course that can be globally accessed from any internet enabled computer.

Available TodayOnlineUSD$100
Instructional Method:
Self-Study
Level: Basic
CPE Credits: 10

Operations managers, project managers, program managers, department heads and anyone wishing to develop a basic understanding of budgets.
Students will be able to:
  • Understand the basics of Budgeting
  • Create a budget in simple-to-follow steps
  • Case study approach for understanding budgeting process
  • Effective management of financial resources
Overview of Budgeting
  • The basic concepts of budget and budgeting
  • Budgeting and forecasting
  • Budgeting and management
  • Budgeting and planning
  • Budget procedures and budget administration

Types of Budget

  • The components of operating budget like sales budget, production budget, production cost budget, ending inventory budget, cost of goods sold budget, selling expenses budget, administrative expenses budget and budgeted income statement
  • The components of financial budget like capital expenditure budget, cash budget, budgeted balance sheet, and cash flow budget

Approaches to Budgeting

  • The various approaches to building budgets like-fixed budgeting approach, flexible budgeting approach, incremental budgeting approach, kaizen budgeting approach, zero base budgeting approach and others
  • The distinctive features of each approach to budgeting

Preparation of Budgets

  • The preparation of operating budgets
  • The preparation of financial budgets

Budgetary Control

  • The basic concepts of budgetary control
  • The process of budgetary control
  • Budgetary variance

JOB AIDS

  • Measurement Tools

Calculators

  • Flexible Budget Calculator
  • Sensitivity Analysis Calculator
  • Cash flow Calculator

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