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Budgeting Concepts

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Budgeting Concepts



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 ABCs 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:6-PDU-LOGO-WEB

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.



Introduction and Review of Accounting Fundamentals

Operational Budgeting Introduction

  • Budgeting in the management process
  • The basis of all budgets
  • The master budget
  • Advantages of budgeting

Budgeting as a Planning Tool

  • Projecting revenues
  • Projecting costs
  • Determining a cost function
  • Projecting cash flows
  • Static vs. flexible budgeting

Budgeting as a Control Tool

  • The necessary steps of a control system
  • Static vs. flexible budgeting
  • Analysis of budget variances

Other Operational Budgeting Topics

  • Limitations of the budgeting process
  • Behavioral issues
  • Common mistakes in the budgeting process
  • Other approaches to operational budgeting



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Project Management Institute, A Guide to the Project Management Body of Knowledge (PMBOK® Guide),

Fifth Edition, copyright 2013. Copyright and all rights reserved. Material from this publication has been

reproduced with the permission of PMI.

Talent Triangle values:

  • PMP/PgMP: 0 Technical  0 Leadership  6 Strategic
  • PMI-ACP: 0 Technical  0 Leadership  6 Strategic
  • PMI-SP: 0 Technical  0 Leadership  6 Strategic
  • PMI-RMP: 0 Technical  0 Leadership  6 Strategic
  • PfMP: 0 Technical  0 Leadership  6 Strategic
  • PMI-PBA: 0 Technical  0 Leadership  6 Strategic
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