Budgeting for Business
What you'll learn
- Be able to use the budgeting process to increase teamwork, planning, and control where you work or in your own business.
- Be able to apply the budgeting process to improve organizational performance.
- Be able to speak confidently on the key concepts of the budgeting process including who, what, when, where, and why do a budget.
- Know how to create the suporting schedules required to build a budgeted Income Statement and Balance Sheet.
- Two sets of business data including blank and completed templates to allow you to create a budget right along with the lectures then practice your skills on your own.
- Be able to Identify ethical issues in the budgeting process.
- Be able to create complete budgeted Income Statement and Balance Sheet as well as a flexible budget to assess variances between budgeted and actual performance.
Requirements
- You need basic math skills - nothing complicated!
- You do not need any prior accounting, budgeting, or finance knowledge.
- A desire to learn, use your skills to improve your professional performance, and have a little fun along the way!
Description
The budgeting process can be a mysterious and scary process for employees who are not accounting experts. The list of benefits that a budget can provide, however, is very long! This course aims to overcome the fear and confusion surrounding the budgeting process by explaining the process and its importance in terms that are easy to understand.
Master the Budgeting Process Using Simple Step by Step Examples
- Recognize the benefits and importance of the budgeting process
- Create supporting schedules to build a full Income Statement and Balance Sheet
- Assess the value of the first draft and revise to create a final polished budget
- Use flexible budgets to assess organizational performance
Learn and Master Budgeting Concepts to Drive Organizational Improvements
There are many benefits to the budgeting process when used properly. You can become a more valuable employee or more successful business owner when you are able to understand and contribute to the budgeting process. Budgeting helps promote teamwork, communication, and continuous improvements. The organization’s goals for the coming year are translated into dollars and cents and shared in a way that helps monitor and improve performance.
However, not everyone is comfortable in the world of accounting. This course is perfect for motivated employees and business owners eager to improve their value and contribute in a more meaningful way to the budgeting process.
Contents and Overview
This course contains 24 lectures, 2 budget templates with completed solutions, five quizzes to track your progress, and 2.5 hours of content. It's designed for any employee, current business owner, business student, or future business owner, regardless of experience level, who wishes to improve their contributions to the organization’s success.
In this course, you will learn the why the budgeting process is important, who is involved, when and where data is collected, and what the process entails.
You'll then dive into the nuts and bolts of the budget, learning where the data comes from, how it all fits together, eventually building a complete budgeted Income Statement and Balance Sheet.
And, finally, you'll learn how to assess organizational performance using a flexible budget.
Upon completion of this course you will be well versed in the basic concepts of budgeting, be comfortable with budgeting calculations, and be able to use the budgeting templates provided to create supporting schedules, a budgeted Income Statement, a budgeted Balance Sheet, and calculate variances using a flexible budget.
Who this course is for:
- This course is meant for any employee touched by the budgeting process, accounting or finance students wanting more detailed information in the area of budget, and current or future business owners wanting to create or improve their budgeting process.
- This course is designed for budgeting in a business setting rather than in personal finances.
Course content
- Preview02:02
- Preview04:12
- 02:46The benefits of budgeting
- 04:54Top Down or Bottom Up?
- Preview02:08
- 5 questionsSection 1 Quiz
Instructor
![Samantha T. Duhn](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 64 64"%3E%3C/svg%3E){kind=avatar}
- 4.2 Instructor Rating
- 534 Reviews
- 1,659 Students
- 1 Course
Hello! My name is Dr. Samantha Duhn. I prefer Samantha over Sam, though I still smile when people ask me if I like green eggs and ham!
I have worked in the food manufacturing industry, automotive industry, and the aerospace industry. I have also spent some of my time outside the office as an assistant instructor for the Dale Carnegie classes, have been a range aide for motorcycle safety classes, and was a train-the-trainer for the Lou Tice Institute of Excellent philosophies.
Never satisfied with status quo I finished my B.A. in Accounting at Buena Vista University, then my MBA and PhD at Northcentral University with specializations in human resources, management, and finance.
Much like my motivation to learn I am also motivated to move and be active. I am an ultra distance runner, scuba diver, triathlete, backpacker, camper, traveler, motorcycle rider, novice gardener, and proud parent of a beautiful 4 year old daughter.
I am one of the fortunate few who love what they do! I spend my days helping students find the joy in learning. This is why I founded Elemental Scholar, an organization dedicated to bringing quality courses to anyone seeking to continue their learning.
I enjoy working with students and working on my ‘bucket list’. Someday I hope to add IronMan to my resume along with a degree in psychology and a few snapshots of me on my bicycle somewhere in Italy. The day is short and the list is long, enjoy!