Budgeting for Business
What you’ll learn
Be able to use the budgeting process to increase teamwork, planning, and control where you work or in your own business.
Be able to apply the budgeting process to improve organizational performance.
Be able to speak confidently on the key concepts of the budgeting process including who, what, when, where, and why do a budget.
Know how to create the suporting schedules required to build a budgeted Income Statement and Balance Sheet.
Two sets of business data including blank and completed templates to allow you to create a budget right along with the lectures then practice your skills on your own.
Be able to Identify ethical issues in the budgeting process.
Be able to create complete budgeted Income Statement and Balance Sheet as well as a flexible budget to assess variances between budgeted and actual performance.
You need basic math skills – nothing complicated!
You do not need any prior accounting, budgeting, or finance knowledge.
A desire to learn, use your skills to improve your professional performance, and have a little fun along the way!
The budgeting process can be a mysterious and scary process for employees who are not accounting experts. The list of benefits that a budget can provide, however, is very long! This course aims to overcome the fear and confusion surrounding the budgeting process by explaining the process and its importance in terms that are easy to understand. Master the Budgeting Process Using Simple Step by Step Examples Recognize the benefits and importance of the budgeting processCreate supporting schedules to build a full Income Statement and Balance SheetAssess the value of the first draft and revise to create a final polished budgetUse flexible budgets to assess organizational performance Learn and Master Budgeting Concepts to Drive Organizational Improvements There are many benefits to the budgeting process when used properly. You can become a more valuable employee or more successful business owner when you are able to understand and contribute to the budgeting process. Budgeting helps promote teamwork, communication, and continuous improvements. The organization’s goals for the coming year are translated into dollars and cents and shared in a way that helps monitor and improve performance. However, not everyone is comfortable in the world of accounting. This course is perfect for motivated employees and business owners eager to improve their value and contribute in a more meaningful way to the budgeting process. Contents and Overview This course contains 24 lectures, 2 budget templates with completed solutions, five quizzes to track your progress, and 2.5 hours of content. It’s designed for any employee, current business owner, business student, or future business owner, regardless of experience level, who wishes to improve their contributions to the organization’s success. In this course, you will learn the why the budgeting process is important, who is involved, when and where data is collected, and what the process entails. You’ll then dive into the nuts and bolts of the budget, learning where the data comes from, how it all fits together, eventually building a complete budgeted Income Statement and Balance Sheet. And, finally, you’ll learn how to assess organizational performance using a flexible budget. Upon completion of this course you will be well versed in the basic concepts of budgeting, be comfortable with budgeting calculations, and be able to use the budgeting templates provided to create supporting schedules, a budgeted Income Statement, a budgeted Balance Sheet, and calculate variances using a flexible budget.
Section 1: Section 1: Budgeting Basics
Lecture 1 Introduction
Lecture 2 What is budgeting all about?
Lecture 3 The benefits of budgeting
Lecture 4 Top Down or Bottom Up?
Lecture 5 How to get the most out of this course
Section 2: Budgets to Support the Income Statement
Lecture 6 Sales
Lecture 7 Production
Lecture 8 Labor
Lecture 9 Materials
Lecture 10 Overhead
Lecture 11 Cost of Goods Sold
Lecture 12 Gross Profit
Section 3: Creating the Income Statement
Lecture 13 Selling and Administrative Costs
Lecture 14 Assembling the Income Statement
Lecture 15 Income Statement Review and Summary
Section 4: The Balance Sheet
Lecture 16 Cash Receipts
Lecture 17 Cash Payments
Lecture 18 Cash Budget
Lecture 19 Inventory
Lecture 20 Creating the Balance Sheet
Section 5: Putting it All Together and Using it!
Lecture 21 Iterative Process
Lecture 22 Using the Budgets
Lecture 23 Ethical Issues
Lecture 24 Flexing the Budget
Lecture 25 Conclusion and Thank You!
This course is meant for any employee touched by the budgeting process, accounting or finance students wanting more detailed information in the area of budget, and current or future business owners wanting to create or improve their budgeting process.,This course is designed for budgeting in a business setting rather than in personal finances.
Udemy | English | 2h 36m | 2.26 GB
Created by: Samantha T. Cooper