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Description:

This is a bundled training package. It contains training for each of the bundled items below:

Course Price
Final Exam: Budgeting Essentials $74.95
Organizational Budgeting Activities and the Master Budget $74.95
Planning and Preparing an Operating Budget $74.95
Preparing Operating Budgets and the Cash Budget $74.95
Using Budgets for Management and Control $74.95

Bundle Price: $199.00
Total Savings: $175.75


Final Exam: Budgeting Essentials

Generally taken near the end of a program, Final Exam: Budgeting Essentials enables the learner to test their knowledge in a testing environment.
  • Topic T2 Objective O4
  • Topic T6 Objective O8
  • Topic T10 Objective O12
  • Topic T14 Objective O16

Organizational Budgeting Activities and the Master Budget

A budget is a financial blueprint for planning an organization's activities and controlling its performance over a designated period of time. It helps allocate an organization's resources as it pursues its financial goals. Organizational budgeting refers to activities that focus on the creation of organizational and departmental budgets, their allocation, and their use in monitoring an organization's activities. Departmental heads, managers, and professionals throughout an organization deal with budgets one way or other in their day-to-day operations, and familiarity with an organization's key budgeting activities is expected at every level. This course presents an overview of various budgeting activities in an organization and describes how best to organize these activities. The course also introduces the master budget, and its components, defines how it is prepared, and shows how various departmental budgets are organized within it.
  • analyze the budgeting approach used in a given scenario
  • determine the most appropriate approach for estimating budgets in a given scenario
  • sequence, in the order in which they are created, the budgets that comprise the master budget
  • match the reviewing and approval activities to their benefits

Planning and Preparing an Operating Budget

Preparing and planning budgets involves a number of organizational activities, ranging from determining the organization's budgetary goals to approving its budgets over a specific period of time. Individual departments translate the organization's budgetary goals into departmental goals relevant to their area. Preparing operating budgets often starts with revenue forecasting, followed by various expenses budgets. Many forecasting tools are used for forecasting revenues and expenses. Knowing the various activities associated with preparing, reviewing, and having management's approval on operating budgets helps you with your own budgeting responsibilities in the organization. This course presents some of the key activities required for planning and preparing an operating budget. It discusses key characteristics of the budget manual and calendar. It also introduces some qualitative and quantitative methods and how they are used to prepare an operating budget. Finally, the course walks you through the stages in the review and approval of the budget.
  • match the budget manual and the budget calendar to their characteristics
  • match qualitative forecasting methods to examples
  • use quantitative forecasting to prepare a sales budget in a given scenario
  • classify the components of an expenditure budget as fixed or variable costs
  • match each stage of the reviewing and approval process to examples

Preparing Operating Budgets and the Cash Budget

Budgets translate an organization's strategic plans into actionable goals for respective departments. The cash budget and operating budgets, in particular, help departments plan the allocation and use of organization's financial resources. A budgeted income statement, which is the final operating budget to prepare, represents an organization's expected profitability if activities are carried out as planned in operating budgets. A cash budget is prepared to ensure availability of adequate cash to pay for expenses incurred during budgeted period. This course explores how some of the key operating budgets are prepared. In particular, it examines operating budgets that deal with production and cost of goods produced; and sales, administrative, and general expenses. It also explains how various figures for a budgeted income statement are calculated. Finally, it discusses various components of a cash budget.
  • recognize the benefits of being able to prepare operating and cash budgets
  • prepare a production budget in a given scenario
  • calculate the budgets used to determine the cost of goods produced
  • calculate the Selling, Administrative and General expenses (SAG) budget for a specific period
  • Identify the steps to take to prepare a budgeted income statement
  • match sub-categories to the cash budget components to which they belong

Using Budgets for Management and Control

One of the most important uses of budgets is as a control tool. Once the budgets for various departments are planned and approved, they drive each department's activities to achieve its budgetary goals. Departmental managers along with organizational leadership review department's performance over a designated period and identify variances from budget goals. In particular, they identify adverse variances and, where possible, they take corrective measures to bring department's performance back on the track. If the causes of variance are beyond organization's control, the budgets have to be revised. This course explores budget variance analysis as a tool for controlling and managing business activities in an organization. It presents some examples of effective management during the budgetary planning and control process. It also discusses various types of budget variances and how to identify some of the common ones, using appropriate examples. And it explores variances, their underlying causes, and which ones are worth investigating using a budgeted income statement.
  • recognize examples of effective management during the budgetary planning and control process
  • determine how to respond to variances in a given scenario
  • match examples of causes of variances that impact profit to the appropriate corrective actions
  • determine which variances of an income statement variance report are worth investigating in a given scenario
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Budgeting Essentials e-learning bundle
  • Course ID:
    252465
  • Duration:
    4 hours
  • Price:
    $199