Audience

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

Prerequisites

An understanding of the principles of financial planning

Course Aim

To introduce the learner to all aspects of budget preparation

Learning Objectives

Describe the stages involved in preparing and submitting a budget forecast. Prepare a sales budget forecast. Create a sales budget forecast spreadsheet. Prepare a production budget. Create a production budget forecast spreadsheet. Compile direct materials budgets. Prepare a manufacturing budget. Discuss other typical company budgets. Create a cash budget. Prepare a budgeted balance sheet.

Topics Covered

Preparing budget forecasts - Stages in the preparation process - Submitting your budget forecast Preparing income budgets - Introduction to sales budgets - How to prepare a sales budget - Hands-on: Preparing a sales budget Preparing expenditure budgets I - The production budget - Hands-on: Preparing a production budget - The direct materials usage budget - Hands-on: Preparing a direct materials usage budget - The direct materials purchase budget Preparing expenditure budgets II - The direct manufacturing labor budget - Hands-on: Preparing a direct labor budget - The manufacturing overhead budget Preparing expenditure budgets III - The closing stock budget - The cost of goods sold budget - Other costs budget Preparing the master budgets - The cash budget - The budgeted profit and loss account - The budgeted balance sheet

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