Budgeting for Profit Planning & Control

Course Description:

The course is intended for business professionals engaged in budgeting, financial planning, forecasting, profit planning, and control. A budget is the formal expression of plans, goals, and objectives of management that covers all aspects of operations for a designated time period. The budget is a tool providing targets and direction.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

• Define what a budget is
• List and define the types of budgets
• Explain the steps involved in the budgetary process
• Distinguish between the bottom-up and top-down approaches to budgeting
• Describe how to coordinate departmental budget activities
• Explain actual costs versus budget costs
• Identify the advantages and disadvantages of budgets