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| Author : | Jae K. Shim, Ph.D., CPA |
| Course Length : | Pages: 160 ||| Review Questions: 50 ||| Final Exam Questions: 55 |
| CPE Credits : | 11.0 |
| IRS Credits : | 0 |
| Price : | $97.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Finance - Finance for Course Id 1479 |
| 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. Budgets provide control over the immediate environment, help to master the financial aspects of the job and department, and solve problems before they occur. Budgets focus on the importance of evaluating alternative actions before decisions are actually implemented. This course explains what budgets are, how they work, how to prepare and present them, and how to analyze budget figures and results. New developments and uses of budgets such as rolling budgets at various managerial levels within a business are illustrated that combine budgeting, forecasting analytics, business intelligence, and collaboration. |
| Usage Rank : | 17059 |
| Release : | 2023 |
| Version : | 1.0 |
| Prerequisites : | Basic Accounting. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Budget
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 16-Aug-2023 |
| NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
| Approved Audience : | NASBA QAS - Text - NASBA Registry - 1479 |
| Keywords : | Finance, Budgeting, Profit, Planning, Control, cpe, cpa, online course |
| Learning Objectives : |
Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13
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| Course Contents : | Chapter 1: The What and Why of Budgeting Learning Objectives Planning Types of Budgets Master Budget Operating and Financial Budgets Cash Budget Static (Fixed) Budget Flexible (Expense) Budget Capital Expenditure Budget Program Budget Incremental Budget Add-On Budget Supplemental Budget Bracket Budget Stretch Budget Strategic Budget Activity-Based Budget Target Budget Rolling Budget Budgetary Process Bottom-Up Versus Top-Down Budget Coordination Departmental Budgeting Actual Costs vs. Budget Costs Budget Revision Budget Weaknesses Budgetary Control and Audit Motivation Advantages and Disadvantages of Budgets Conclusion Chapter 1 Review Questions Chapter 2: Strategic Planning and Budgeting and Planning for Profit Learning Objectives Budgeting Strategic Planning Short-Term Plans Long-Term Plans Time Period Profit Planning: Targeting and Reaching Achievable Goals Goal Congruence Profit Targets Objectives In The Profit Plan Role of Managers Assumptions Alternatives Responsibility Participation Coordination Scheduling Problems Control, Evaluation, and Analysis Internal Controls "Real - Life" Illustrations In Profit Planning Conclusion Chapter 2 Review Questions Chapter 3: Administering the Budget: Reports, Analyses, and Evaluations Learning Objectives Plans and Planning Profit Plan Operational Plan Development Plan Contingency Planning Activity-Based Budget Budget Process Departmental Budgets Budget Accuracy Budget Revision Performance Measures Control and Analysis Types of Reports Budget Manual Budget Sheet Performance Reports Budget Audit Budget Calendar Chapter 3 Review Questions Chapter 4: Cost Behavior: Emphasis On Flexible Budgets and Contribution Margin Learning Objectives Costs By Behavior Analysis of Mixed (Semi-Variable) Costs Relevant Range The High-Low Method Regression Analysis Fixed Budgets Versus Flexible Budgets and Performance Reports Direct Labor and Variable Overhead The Contribution Income Statement Conclusion Chapter 4 Review Questions Chapter 5: Responsibility Accounting and Reporting To Management Learning Objectives Responsibility Accounting and Responsibility Center Cost Center Control Prerequisites of Cost Control Responsibility and Conventional Accounting Compared Cost Controllability Organization Structure Operation of Responsibility Accounting System Human Relations In Responsibility Accounting Reporting Under Responsibility Accounting Essentials of Good Reporting Fixing Responsibility Service Department Costs Conclusion Chapter 5 Review Questions Chapter 6: Master Budget: Genesis of Forecasting and Profit Planning Learning Objectives Master (Comprehensive) Budgeting Illustrated Sales Budget Production Budget Units Materials Requirement Budget Direct Labor Budget Factory Overhead Costs Budget Selling and Administrative Expenses Budget Cash Receipts Budget Cash Disbursements Budget Budgeted Cash Balances Bank Loans Budgeted Income Statements Conclusion Chapter 6 Review Questions Chapter 7: Using Variance Analysis to Evaluate Performance Learning Objectives Defining A Standard The Usefulness of Variance Analysis Determining and Evaluating Sales Variances Cost Variances Material's Variances Labor Variances Overhead Variances The Use of Flexible Budgets in Performance Reports Standards and Variances In Marketing Sales Standards Analyzing Salesperson Variances Appraisal of Marketing Department Illustrative Marketing Performance Reports Variances In Administrative Expenses Variances In Warehousing Costs Nonmanufacturing (Service) Activities An Illustrative Variance Analysis Report For A Service Business Capital Expenditures Variance Analysis Reports Conclusion Chapter 7 Review Questions Chapter 8: Budgeting Sales Forecasts, and the Sales and Marketing Budget Learning Objectives Sales Planning and Forecasting Sales Forecasts Sales Budget The Marketing Budget Marketing Budgets Selling Expenses Advertising and Sales Promotion Distribution Costs Analysis and Evaluation of Distribution Costs Packaging Travel and Entertainment Budget Meetings Conclusion Chapter 8 Review Questions Chapter 9: Budgeting Manufacturing Costs Learning Objectives Illustration The Sales Budget The Production Budget The Direct Material Budget The Direct Labor Budget The Factory Overhead Budget Planning and Control of Material Purchases and Usage Materials Budgets Budgeting Individual Items of Material Budget Based On Production Factors Materials Purchase Budget Illustrated Planning and Control of Direct Labor Direct Labor Budget Labor Reports Fringe Benefits Labor Cost Control and Analysis Planning and Control of Factory Overhead Types of Overhead Costs Allocation Total Cost Management Static Versus Flexible Budget Control and Analysis Conclusion Chapter 9 Review Questions Chapter 10: Budgeting General and Administrative Expenses and R&D Costs Learning Objectives Administrative Departments Budgeting Process Cost Classification Compensation Arrangements Contributions Financial Expenses Other Expenses Employees Control and Analysis Budgeting for Research and Development Costs R&D Costs R&D Planning Funding Level R&D Budget Analysis and Evaluation Control Over R&D R&D Risk Coordination Budgeting for Capital Expenditures The Budget Process Authorization of Capital Budget Capital Budget Forms Capital Budget Capital Expenditure Reports Budget Revisions Special Projects Analysis of Capital Projects Conclusion Chapter 10 Review Questions Chapter 11: Cash Flow Forecasting and Budgeting Learning Objectives Account Analysis Total cash receipts The Cash Budget Cash Variance Analysis Cash Flow Software and Spreadsheets Construction of a Rolling Budget Budgeting Software Conclusion Chapter 11 Review Questions Chapter 12: Zero-Base Budgeting: Priority Budgeting for Best Resource Allocation Learning Objectives The Zero-Base Budgeting Process Activity Units Decision Packages Ranking Proposals Project (Program) Budgets Conclusion Chapter 12 Review Questions Chapter 13: Budgeting for Service Businesses and Nonprofit Organizations Learning Objectives Service Organizations Airlines Hotels Nonprofit Organizations Planning Funds Recordkeeping and Reporting Government Budgets and Accounting Bases Government Recordkeeping for Budget Accountability Government Interfund Transactions Capital and Operating Budgets Budget Development Budgeting Revenue Expenditures Encumbrances Budgetary Control Variances Effectiveness and Control Measures Organization Structure Functional or Program Reporting Budget Adaptability Budget Participants Voluntary Hospitals Colleges and Universities Professional Associations Conclusion Chapter 13 Review Questions Glossary |
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