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Industry trends have caused companies to become much leaner than in the past. This has driven employees to broaden their areas of expertise and has amplified the need to understand numerous functional areas of business. This essential course in budgeting will give you the ABC's of putting together a workable budget, give you a working knowledge of fundamental accounting practices, walk you through the successful methods for projecting revenues and expenses and will demonstrate proven ways to improve the budgeting process. You'll also learn how a control system works and how to monitor, analyze and respond to budget variances. In addition, you will also take an in-depth look at capital budgeting.

DESIGNED FOR:

Anyone wanting the essentials of creating budgets that work will greatly benefit from this program. Regardless of your budgeting experience or financial background you will learn the fundamentals of putting together effective budgets.


"Mike did a great job of covering a lot of information in a short period of time.  This class was very helpful to me, it is one of the first accounting type classes that actually made some sense to me."
     Angela Heisler, Boeing Company
          Management Certificate Recipient

OUTLINE:

1. Introduction and Review of Accounting Fundamentals
2. Operational Budgeting Introduction
   1. Budgeting in the management process
   2. The basis of all budgets
   3. The master budget
   4. Advantages of budgeting
3. Budgeting as a Planning Tool
   1. Projecting revenues
   2. Projecting costs
   3. Determining a cost function
   4. Projecting cash flows
   5. Static vs. flexible budgeting
4. Budgeting as a Control Tool
   1. The necessary steps of a control system
   2. Static vs. flexible budgeting
   3. Analysis of budget variances
5. Other Operational Budgeting Topics
   1. Limitations of the budgeting process
   2. Behavioral issues
   3. Common mistakes in the budgeting process
   4. Other approaches to operational budgeting

LOCATION:

Budgeting from Creation to Application will be held in the CMD Training Center in the Woodman Alumni Building on the Wichita State University campus in Wichita, Kansas.

General Information for Nearby Accommodations