Practical Budgeting – Accounting Yard

About Course

This course provides a practical and structured understanding of budgeting in organizations. Participants will learn the fundamentals of budgeting, the budgeting process in practice, and how budgets are prepared, presented, and approved. The course also refreshes key financial statements to ensure accurate linkage between budgets and financial reporting, and concludes with a comprehensive case study on preparing and presenting a complete company budget.

By the end of this course, you will be able to:
Understand budgeting, including its meaning and importance
Refresh knowledge of the three primary financial statements:
Income Statement
Statement of Financial Position (SOFP)
Statement of Cash Flows (SOCF)
Understand the budgeting process in practice
Identify the steps and roles involved in budget preparation
Apply different budgeting approaches
Prepare budgets for specific items, including:
Revenue
Cost of sales
Administrative expenses
Finance costs and other expense items
Understand and prepare a master budget
Present budgets effectively to management and stakeholders
Understand the budget sign-off and approval process
Apply budgeting concepts through a practical case study:
Preparing and presenting a company’s complete budget

Course Content

Introduction to Budgeting

Course Overview

02:43
Introductory Concepts

16:04
Question and Answer on Introductory Concepts

15:37
Class discussion on budgeting

41:55
Approaches to budgeting

13:21
Question and Answer on approaches to budgeting

15:31
Class discussions on approaches to budgeting

19:31
Summary on key concepts and budgeting approaches

03:27
Budgeting methods

21:34
Question and Answer on budgeting methods

34:53
Class discussion on Budgeting Methods

12:54

Modeling of Revenue and Cost of Sales

Preparation of functional Budgets

Introduction

03:56
Sales budget

21:26
Question and Answer on Sales budget

12:41
Adjustment to template

01:01
Direct material budget

17:20
Direct material budget II

14:40
Question and Answer on direct material budget

40:12
Direct labour budget

09:37
Introduction to Indirect labour budget

04:49
Indirect labour budget

07:33
Question and Answer on Indirect labour budget

14:15

Budget for line expenses

Introduction

06:10
Factory electricity budget

10:27
Question and Answer on factory electricity budget

08:26
Factory Fueling Budget

07:24
Factory rent expense budget

23:57
Question and Answer on Factory rent expense budget

16:02
Factory depreciation budget

03:05
Question and Answer on Factory depreciation budget

01:28
Question and Answer on factory depreciation budget II

01:22
Cost of sales summary

05:22
Question and Answer on Cost of sales

14:11
Staff cost budget

14:35
Staff Bonus budget

12:49
Other HR cost budget

11:06
Question and Answer on other HR cost budget

03:34
Staff training budget

04:24
Question and Answer on staff training budget

01:03
Question and Answer across expense budgets

28:33
Summary of HR and Admin budget

03:07
Legal dept budget

10:31
Question and Answer on legal dept budget

07:55
HSSE Budget

06:03
Question and Answer on HSSE budget

15:20
Sales and customer service budget

04:38
Finance Dept Budget

17:04
Question and Answer on finance dept budget

19:50

Budgeted Income Statement, SOFP and SOCF

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About Course

What Will You Learn?

Course Content

Introduction to Budgeting

Course Overview

Introductory Concepts

Question and Answer on Introductory Concepts

Class discussion on budgeting

Approaches to budgeting

Question and Answer on approaches to budgeting

Class discussions on approaches to budgeting

Summary on key concepts and budgeting approaches

Budgeting methods

Question and Answer on budgeting methods

Class discussion on Budgeting Methods

Modeling of Revenue and Cost of Sales

Revenue modeling

Industry specific revenue modeling

Revenue Input

Class discussion on revenue Input

Forcasting for Sales Cost and Price

Question and Answer on Cost of Sales Input

Preparation of functional Budgets

Introduction

Sales budget

Question and Answer on Sales budget

Adjustment to template

Direct material budget

Direct material budget II

Question and Answer on direct material budget

Direct labour budget

Introduction to Indirect labour budget

Indirect labour budget

Question and Answer on Indirect labour budget

Budget for line expenses

Introduction

Factory electricity budget

Question and Answer on factory electricity budget

Factory Fueling Budget

Factory rent expense budget

Question and Answer on Factory rent expense budget

Factory depreciation budget

Question and Answer on Factory depreciation budget

Question and Answer on factory depreciation budget II

Cost of sales summary

Question and Answer on Cost of sales

Staff cost budget

Staff Bonus budget

Other HR cost budget

Question and Answer on other HR cost budget

Staff training budget

Question and Answer on staff training budget

Question and Answer across expense budgets

Summary of HR and Admin budget

Legal dept budget

Question and Answer on legal dept budget

HSSE Budget

Question and Answer on HSSE budget

Sales and customer service budget

Finance Dept Budget

Question and Answer on finance dept budget

Budgeted Income Statement, SOFP and SOCF

Budgeted Income statement

Question and Answer on budgeted income statement

Movement in SOFP Items

Question and Answer on Movement in SOFP items

Budgeted SOFP

Budgeted SOCF

Question and Answer on Budgeted SOFP and SOCF

Student Ratings & Reviews