Budgeting and Forecasting
A budget is telling your money where to go instead of wondering where it went. "Dave Ramsey". Whenever studying or learning about budgets and forecast, accounting and finance candidates get lost with huge unnecessary theoretical issues about planning, budgeting and forecasting. Well as usual, this workshop with BCA International is really different, is really practical. It takes you directly into main concepts you need to create, build, prepare and review your budget.
Course Outline
- Defining a business budget
- Planning, budgeting, and controlling
- Time frame for preparing a budget
- Methods of developing a budget
- Who should participate in the budgeting process?
- Forecasts and assumptions used in preparing a budget
- Forecasting Techniques
- The Master Budget / Comprehensive Budget:
- The operational budget
- The financial budget
- The Master Budget Financial Statements.
- Budgeted Income Statement
- Budgeted Balance Sheet
- Budgeted Statement of Cash Flows
- Differences between a static budget and a flexible budget
- Performance measurement and variance analysis
- Variance Report
- The advantages and the disadvantages of budgeting