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Budgeting for Profit Planning & Control (PCDP)

Customer Rating
Field of Study
Finance
Level
Overview
Credits
11
Qualifies For
CPE



Price:  $109.99
The course is intended for business professionals engaged in budgeting, financial planning, forecasting, profit planning, and control. This course explains what budgets are, how they work, how to prepare and present them, and how to analyze budget figures and results. The new development and use of budgets such as rolling budgets at various managerial levels within a business are illustrated, along with active financial planning software and e-budgeting that combine budgeting, forecasting analytics, business intelligence, and collaboration. The course is intended for business professionals engaged in budgeting, financial planning, forecasting, profit planning, and control. This course explains what budgets are, how they work, how to prepare and present them, and how to analyze budget figures and results. The new development and use of budgets such as rolling budgets at various managerial levels within a business are illustrated, along with active financial planning software and e-budgeting that combine budgeting, forecasting analytics, business intelligence, and collaboration.

Additional information

Credits

11

Format

Self-Study Download

Company Code

Self Study

Yellow Book Approved

0

CFP Approved

0

IRS Approved

0

CTEC Approved

0

Field of Study Credits

Finance (Technical) (11)

Field of Study Department

Finance (Technical)

Course Version

2019-01

CPE Approved

1

Pre-requistes:

Basic accounting

Knowledge Level:

Overview

Major Topics:

  • The What and Why of Budgeting
  • Strategic Planning and Budgeting and Planning for Profit
  • Administering the Budget: Reports, Analyses, and Evaluations
  • Cost Behavior: Emphasis On Flexible Budgets and Contribution Margin
  • Responsibility Accounting and Reporting To Management
  • Master Budget: Genesis of Forecasting and Profit Planning
  • Using Variance Analysis to Evaluate Performance
  • Budgeting Sales Forecasts, and the Sales and Marketing Budget
  • Budgeting Manufacturing Costs
  • Budgeting General and Administrative Expenses and R&D Costs
  • Cash Flow Forecasting and Budgeting
  • Zero-Base Budgeting: Priority Budgeting for Best Resource Allocation
  • Budgeting for Service Businesses and Nonprofit Organizations

Learning Objectives:

  • Recognize the different types of budgets
  • Identify characteristics and advantages of budgeting
  • Recognize how strategic planning and budgeting are linked together
  • Identify certain budget measurements
  • Distinguish between short-term and long-term plans
  • Identify objectives of profit planning
  • Recognize metrics in the profit plan
  • Recognize the major types of budget reports
  • Identify the components of the budget sheet
  • Identify examples of variable costs, fixed costs, and mixed costs
  • Recognize two methods of developing a flexible budget formula: the high-low method and regression analysis
  • Calculate fixed costs and overheard costs
  • Distinguish among three types of responsibility centers.
  • Identify weaknesses of many cost systems
  • Identify examples of financial budgets
  • Recognize components of overhead
  • Recognize the purpose and causes of variance analysis
  • Recognize where certain variances arise
  • Identify the value of performance reports
  • Identify the importance of a reasonable sales budget
  • Differentiate between sales planning and sale forecast
  • Recognize the procedures for developing advertising budgets and some characteristics of the advertising budget
  • Identify some methods of calculating advertising budgets
  • Recognize fixed vs. semi-variable vs variable costs
  • Understand the applicability of static budgets
  • Recognize how the flexible budget formula help develop the factory overhead budget
  • Recognize items included in the budget process for general and administrative expenses
  • Identify the factors that need to be considered in R&D planning
  • Identify factors in considering capital expenditures
  • Recognize components of the capital expenditures budget
  • Recognize the importance, attributes and components in a cash budgeting system
  • Identify advantages of using “what-if” scenarios when budgeting
  • Recognize the steps involved in zero-base budgeting and how often it should be conducted
  • Recognize what is involve in a decision package
  • Recognize the special features associated with planning and budgeting for service businesses.
  • Identify the unique features and characteristics of governmental and nonprofit organizations (NPOs)

Designed For:

Business professionals engaged in budgeting, financial planning, forecasting, profit planning, and control
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