workshop

THE BUDGETING PROCESS

• How does the budgeting process work?
• ​Identify the major components of budgets & their relationships.
• Other types of budgets: Zero-based, flexible, static and rolling
• The Role of the Budget in the Organization.
• Advantages and disadvantages of budgets
• Establishing the general guidelines
• Establishing the budget calendar

PREPARING THE BUDGET

• Overview of the Sales Budget
• Responsibility for Sales Information
• Sources of Sales Information
• Factors Affecting Sales

• Ending Inventory Assumptions
• Impact of Changes in Ending Inventory
• The Ending Finished Goods Inventory Budget

• Types and Timing of Sales and Marketing Expenses
• Structure of the Sales and Marketing Budget
• Sources of Sales and Marketing Expense Information
• Analysis of the Sales and Marketing Budget
• Factors affecting the Sales and Marketing Budget
• Sales and Marketing Metrics

• The G & A Budget
• Cost Variability in the G&A Budget
• Allocation of Administrative Expenses
• Departmental Budget
• The Employees/Compensation Budget
• The Benefits Budget
• The Headcount Budget
• Link between Budgets and Bonus Compensation

THE FINANCIAL BUDGET

• Overview of Capital Budgeting
• Net Present Value Analysis
• The Payback Method
• Capital Budget Proposal Analysis

BUDGETING REPORTING AND MONITORING

• Formulation of the Budget
• General Reporting Format
• Variance analysis reports
• The Rolling Forecast Process
• Budgeting Controls

MANUFACTURING RELATED

• The Production Budget
• The Direct Materials Budget
• The Direct Labor Budget
• The Manufacturing Overhead Budget