Fundamentals of Corporate Budgeting

Budgeting is a critical step in planning and controlling the day-to-day operations of any business. The budgeting process can also be time-consuming, multi-layered, and complex. To streamline this process and ensure more timely and accurate budgets, companies place great value on a formalized process that produces detailed, yet flexible budgets that are fully aligned with the strategic goals of the organization. This course introduces students to the fundamental elements of budgeting practiced by businesses for planning and control. Topics include an overview of budgeting and the budget process; various budget types; preparing, monitoring and controlling budgets; cost/profit volume analysis; and capital budgeting vs. operational budgeting. Instruction also includes exercises in budgeting using real-world applications.