Audience

Managers, prospective managers, and any other employees seeking advanced competency in the area of interpreting financial statements

Prerequisites

A basic understanding of the accounting function

Course Aim

To discuss the role of planning in operational cycles and explain how budgets are integrated into a business?s general plan

Learning Objectives

Define budgets and financial planning. Identify and discuss the four benefits of budgeting. Explain the role of the budget director and the budget committee. Discuss operational planning in the revenue, conversion, and expenditure cycles. Explain the importance of the cash budget. Discuss the role of pro-forma financial statements. Use budgets to identify relevant planning and purchasing information.

Topics Covered

Budgets - Why use budgets? - Budgetary strategies - Hands-on: Identifying the correct budgeting strategy - Types of budgets Planning and Cycles - Operational planning in the revenue cycle - Conversion cycle planning - Expenditure cycle planning - Hands-on: Identifying the appropriate budget Budget Integration - The cash budget - Pro forma financial statements - Hands-on: Finding information for a cash budget

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