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Preparing & Controlling a Budget

Budgeting is potentially a manager's most valuable planning and management tool - but only if budgets are carefully planned and monitored. Depending on the size of the organization, preparing a budget can be a very complex process. This course focuses on important aspects of budgeting - preparation and control.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Explain how to prepare a budget

    Set up a control system for a budget

  • COURSE OUTLINE

    Topic 1: Preparing a Budget

    Revenue

    o Sales

    o Cost of Sales

    o Gross Profit

    Operating Expenses

    Operating Profit

    Topic 2: Controlling a Budget

    1.Calculate a monthly budget

    2. Input monthly actuals

    3. Calculate variances

    4. Flex the budget

    5. Calculate flexed variances

    6. Analyze the variances

    7. Take corrective action

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    90 Minutes

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