Master Budgets – Managerial Accounting/Cost Accounting
3.8 (41 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
14,575 students enrolled

Master Budgets – Managerial Accounting/Cost Accounting

Master budget-Components & order of the master budget & examples of each part including budgeted financial statements
3.8 (41 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
14,575 students enrolled
Last updated 4/2019
English
English [Auto]
Current price: $139.99 Original price: $199.99 Discount: 30% off
11 hours left at this price!
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This course includes
  • 8.5 hours on-demand video
  • 29 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Assignments
  • Certificate of Completion
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What you'll learn
  • Managerial accounting concepts
  • Budget timing methods
  • Characteristics and tasks of the budget committee
  • Order of operations for a master budget
  • How to construct a sales budget
  • How to build a production budget
  • How to make a materials budget
  • How to construct a direct labor budget
  • How to build a factory overhead budget
  • How to make a general and administrative budget
  • How to put together a cash budget
  • How to constructed a budgeted cost of goods manufactured statement
  • How to build a cost of goods sold budget
  • How to make a budgeted income statement
  • How to make a budgeted balance sheet
Requirements
  • An understanding of basic accounting terms
Description

Master budget construction, including demonstration problems, excel worksheets, practice test questions, discussion questions, and a comprehensive problem we work together using Excel in a step by step format.

The course will provide a managerial accounting overview, comparing managerial accounting and financial accounting, and providing essential managerial accounting tools we will need in the budgeting process.

We will discuss methods of budget timing and the pros and cons of each technique.

The course will discuss the characteristics and functions of the budget committee.

We will discuss the components of a master budget and break it out into its parts, listing the order that those components need to be completed in.

The course will discuss how to put together a sales budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

We will discuss how to put together a production budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

The course will discuss how to put together a materials budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

We will discuss how to put together a direct labor budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

The course will discuss how to put together a factory overhead budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

We will discuss how to put together a general and administrative budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

The course will discuss how to put together a cash budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

We will discuss how to put together a budgeted cost of goods manufactured statement and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

The course will discuss how to put together a budgeted cost of goods sold statement and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

We will discuss how to put together a budgeted income statement and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

The course will discuss how to put together a budgeted balance sheet and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

We will also go over a comprehensive problem in Excel so we can see all the components of the master budget and work through them in one place.

Who this course is for:
  • Accounting students
  • Business owners
  • Anyone who whats to learn accounting
Course content
Expand all 91 lectures 08:40:05
+ Introduction
7 lectures 31:05
PDF - 110 Budget Problems
00:08
110 Budget Problems
10:24
Multiple Choice 1
03:51
Accounting Comic Break
00:14
+ Managerial Accounting Overview
21 lectures 01:25:12
2 Managerial Accounting Overview
01:30
PDF - 10 Managerial Accounting Introduction
00:08
PDF - 20 Cost Classifications
00:08
20 Cost Classifications
09:31
PDF - 30 Product Costs & Period Costs.
00:08
30 Product Costs & Period Costs.ENCODING
16:25
PDF - 40 Prime Costs & Conversion Costs
00:08
40 Prime Costs & Conversion Costs
05:35
PDF - 50 Manufacturer's Balance Sheet
00:08
PDF - 60 Manufacturer's Income Statement
00:08
60 Manufacturer's Income Statement
08:49
PDF - 70 Manufacturing Activities Flow
00:08
70 Manufacturing Activities Flow
07:51
PDF - 80 Just In Time (JIT) Manufacturing
00:08
PDF - 90 Job Cost Vs Process Cost
00:08
90 Job Cost Vs Process Cost
09:13
Multiple Choice 2
05:35
Accounting Comic Break
00:15
+ Budget Timing and Budget Committee
6 lectures 10:00
3 Budget Timing and Budget Committee
00:38
PDF - 115 Budget Timing
00:08
115 Budget Timing
02:59
PDF - 120 Budget Committee
00:08
120 Budget Committee
05:51
Accounting Comic Break
00:16
+ Sales Budget, Production Budget, & Materials Budget
8 lectures 41:13
4 Sales Budget, Production Budget, & Materials Budget
01:23
PDF - 210 Sales Budget, Production Budget, & Materials Budget
00:08
210 Sales Budget, Production Budget, & Materials Budget
14:08
Excel Worksheet Download
00:05
Worksheet - 210 Sales Budget, Production Budget, & Materials Budget
15:15
Excel Worksheet Download
00:05
Worksheet - 210 Sales Budget, Production Budget, & Materials Budget
09:54
Accounting Comic Break
00:15
+ Direct Labor, Factory Overhead, Selling, & General and Administrative Budgets
8 lectures 37:41
5 Direct Labor, Factory Overhead, Selling, & General and Administrative Budgets
01:20
PDF - 220 Direct Labor, Factory Overhead, Selling, General and Administrative
00:08
220 Direct Labor, Factory Overhead, Selling, General and Administrative
10:28
Excel Worksheet Download
00:05
Worksheet - 220 Direct Labor & Factory Overhead
10:18
Excel Worksheet Download
00:05
Worksheet - 225 Selling & Administrative Budget
15:01
Discuss the benefits of budgeting.
Discussion Question 1
1 question
Accounting Comic Break
00:16
+ Cash Budget
6 lectures 37:09
6 Cash Budget
01:45
PDF - 230 Cash Budget
00:08
230 Cash Budget
16:21
Excel Worksheet Download
00:05
Worksheet - 230 Cash Budget
18:35
Explain what a rolling budget is.
Discussion Question 2
1 question
Accounting Comic Break
00:15
+ Budgeted Cost of Goods Manufactured & Cost of Goods Sold
6 lectures 18:23
7 Budgeted Cost of Goods Manufactured & Cost of Goods Sold
01:12
PDF - 240 Budgeted Cost of Goods Manufactured & Cost of Goods Sold
00:08
240 Budgeted Cost of Goods Manufactured & Cost of Goods Sold
07:27
Excel Worksheet Download
00:05
Worksheet - 240 Budgeted Cost of Goods Manufactured & Cost of Goods Sold
09:16
Discuss why the budgeting process starts with the sales budget.
Discussion Question 3
1 question
Accounting Comic Break
00:15
+ Budgeted Income Statement
6 lectures 13:22
8 Budgeted Income Statement
01:15
PDF - 250 Budgeted Income Statement
00:08
250 Budgeted Income Statement
05:40
Excel Worksheet Download
00:05
Worksheet - 250 Budgeted Income Statement
05:57
Describe the sales budget and how it is prepared.
Discussion Question 4
1 question
Accounting Comic Break
00:17
+ Budgeted Balance Sheet
7 lectures 43:08
9 Budgeted Balance Sheet
01:18
PDF - 260 Budgeted Balance Sheet
00:08
260 Budgeted Balance Sheet
13:22
Excel Worksheet Download
00:05
Worksheet - 260 Budgeted Balance Sheet
13:49
Short Calculation Questions
14:11
Describe the cash budget and how it is prepared.
Discussion Question 5
1 question
Accounting Comic Break
00:15
+ Verify The Budget
4 lectures 28:38
10 Verify The Budget
01:07
Excel Worksheet Download
00:05
Worksheet - 270 Verify The Budget
27:12
Describe the production budget and how it is prepared.
Discussion Question 6
1 question
Accounting Comic Break
00:14