Learn about Budgeting and the Corporate Planning Process
Implement the practical steps in a budgeting process
Sales forecasting involving a variety of factors
Employ good management techniques in order to allow your company to control the flow of money into and out of its treasury
Discover how to assign customers to a basic profitability category
Manage costs through cost behavior patterns, and budget segmentation
What you will learn:
Budgeting and the Corporate Planning Process
An overview of the budgeting process
The corporate planning process
Strategic planning and competitive advantages
How to set goals and objectives
Practical Aspects of Budgeting
Steps in the budgeting process
The duties of the budget committee
The 2 major types of budgeting
The objective and 3 major steps of a benchmark program
The Master Budget
The importance of a master budget
A break-down of monthly income statements
Defining various types of assets
Understanding comparative income statements
Cost Management
Identifying cost behavior patterns
Differentiating fixed costs and variable costs
The benefits of the contributed income statement
Understanding budget segmentation
Cost Management, Part 2
The 2 basic types of cost equations
The 4 means of estimating cost behavior patterns
How to use the method of performance variance
Budgeting Techniques: Manufacturing Companies
The 2 budgeting aspects of manufacturing companies
How and when to use a production budget
Explanation and examples of activity-based budgeting
Determining the performance variance
Budgeting Techniques: Retail Companies
Understanding a retail sales budget
Forecasting in a marketing budget
The 4 types of sales forecasting
Understanding activity-based sales budgeting
