budgeting concepts, policy, process and beyond
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Budgeting Concepts, Policy, Process and Beyond - Session ONE
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Section 1 – Budgeting Concepts Page
Budgeting VS. Accounting 4
Budget Definition 5
Advantages of Budgeting 6
Disadvantages of Budgeting 7
Uses of Budget 8
Why Plan? 9
Understanding Where Your Budget Fits In 10
Why Budget? 11
Decision Making 12
Budget Committee Decision 19
Budget Period Decision 20
Parts of a Budget 21
Types of Budgets 22
Ratio Analysis 29
Budgeting Tips and Tricks 36
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Understanding Where Your Budget Fits In
Your budget should flow down from your company’s plan, like this:
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Types of Budgets
Main Types of Budget
Capital Budget
Cash Budget
Expense Budget
Labor Budget
Production Budget
Sales Budget
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Ratio Analysis (3/7)
Current Ratio
Quick Ratio
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Ratio Analysis (4/7)
Debt Ratio
Gross Profit Margin
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Ratio Analysis (5/7)
Return on Sales Ratio
Debt to Net Worth Ratio
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Ratio Analysis (6/7)
Cash Turnover Ratio
Collection Ratio
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Ratio Analysis (7/7)Return on Investment
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Section 2 – Budgeting Policies and Procedures Page
Budgeting Procedures - Intro 40
Formulation of the Budget 41
Budget Variance Reports 47
Subsequent Account Changes 49
Budgeting Tips and Tricks 52
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Section 3– Budgeting Process Page
Definition Of Budgeting Process 55
The 6 Steps Of a Budgeting Process 56
Where Can You Get your Numbers From? 71
Getting Your Budget Approved 74
Monitoring and Managing Budgets 75
Budgeting Tips and Tricks 77
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The 6 Steps Of a Budgeting Process
The budgeting process typically has six steps.
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