BUDGETING – DEPARTMENTS WORKING TOGETHER

COURSE OBJECTIVES

In general, this program, over two (2) days, creates a unified budgeting plan for the Company, enables all departments within the Company to work together to achieve common goals and develops monitoring systems to measure and evaluate the budgeting process.

Courses can be modified to fit ½ day and 1 day schedules

COURSE GOALS

At the end of the program, participants will be able to:

• Understand the budgeting process;
• Develop a common and unified Company goal and objective;
• Make informed decisions for each element of the budget process;
• Consider types and uses of different budgets;
• Apply accounting principles within the budget process;
• Work with basic financial statements;
• Discuss and apply principles, concepts, methods and procedures of financial management and planning such as cash flow, capital budgeting, cost-volume profit analysis and working capital.

COURSE TECHNIQUE

The course will use a combination of lecture / discussion, exercises and cases.

COURSE OUTLINE

1. WHAT IS “PROFIT” OR “LOSS”
1. Cash Method
2. Accrual Method
2. KEEPING TRACK OF COSTS
1. Direct Costs
2. Indirect Costs
3. Overhead
3. BUDGET ORIENTATION
1. Profit Centers
2. Operational Efficiencies
3. Short Term / Mid Term / Long Term Planning
4. ALTERNATIVE USES OF FUNDS
5. THE BUDGETING PROCESS
6. CASES AND PROBLEMS