The Essentials of Budgeting
Classroom based course with study materials, lecturer support and CPD Hours included
London Training For Excellence
Summary
- Tutor is available to students
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Overview
Description
Understanding the Planning and Budgeting Cycle
- Define Planning and Its Relationship to the Budgeting Process
- Explain Why Companies Budget
- Describe the Planning Cycle in a Typical Organization
Tying Strategic Planning to the Budgeting Process
- Explain the Strategic Planning Process
- Explain How Strategic Analysis Is Related to the Planning and Budgeting Process
- Perform a Strategic Analysis of the Internal and External Environment
Understanding the Budget Preparation Process
- Describe the Typical Flow of the Budgeting Cycle in an organization
- Identify the Major Contents of the Annual Business Plan
- Explain the Different Types of Budgets, Their Purpose, and Limitations
- Explain the Relationship between Budgets and Forecasts
- Identify Ways to Improve the Budgeting Process in Your Organization
How to Prepare an Operating Budget
- Explain the Sequence of Steps in Preparing an Operating Budget
- Prepare a Sales and Cost-of-Sales Budget
- Calculate Labor Hours Available and Use This Figure to Plan Headcount
- Calculate Budgeted Overhead Rates
- Budget Labor, Materials, and Overhead Costs in Total and Per Unit
Measuring Performance against the Budget
- Identify Significant Variances
- Analyze Budget Variances
- Describe the Characteristics of a Good Budget Reporting System
- Determine When a Budget Should Be Revised during the Year
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