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OnDemand Course

Developing, Managing and Analyzing a Budget: Understand and Implement an Effective Budget for Better Management and Financial Decisions

Operating without a plan or budget is an invitation to fail.

Many organizations flounder not because they are ineffectual at their operations, but because they simply meander, lose focus, and do not see the goal posts. This topic will show how to design and implement proper planning and budgeting, which are the keys to success. This concept is critical for businesses - no matter how large or small, non-profits, and governments; it also does wonders for one's personal finances, too. Budgeting is a dynamic process, not a static one. By knowing the types of budgets and processes that have worked for others, one can create an environment and procedure that is a tool for attainment of organizational goals, without the pitfalls of trial and error. Budgeting is critical for any organization - successful executives and business owners always design and implement a workable budget - they know where the strengths and weaknesses are, and if budget cutting must be implemented in the foreseeable future. A suitable budget will, indeed, help define and shape those goals, as well as evaluate the likelihood of achievement. Business success is on the way.

Learning Objectives

  • You will be able to identify key factors and processes in developing a budget.
  • You will be able to differentiate between Capital and Operating budgets.
  • You will be able to differentiate between multiple budgeting methods.
  • You will be able to differentiate between Cash and Accrual accounting methods.

92 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview of Budget Basics

  • Welcome
  • Budgets and Strategies
    • What Is the Goal?
    • Start at the End
    • Strategic Planning
    • NonFinancial

Essential Elements to Productive Budgets

Process

  • Types of Budgets
    • Samples Budget vs. Actual
  • Prepare
  • Monitor
  • Cost vs. Benefit
  • Means, Not an End

What Is Wrong With Most Budget Processes?

  • Dysfunction
  • Responsibility
  • Incremental/Decremental
  • Meandering

Budget Cuts - Rules for Successful Cutbacks

Analysis

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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last reviewed on September 13, 2023.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 2.0 including Finance 2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Finance for 2.0 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Brian D. Levine, M.B.A., CPA

Brian D. Levine, M.B.A., CPA

Brian D. Levine, MBA, CPA Jersey Tax & Accounting, LLC

  • Founder of Brian D. Levine, MBA, CPA Jersey Tax & Accounting, LLC
  • Services clients nationally and locally regarding accounting, taxes, investment planning, financial and economic analyses, litigation support, expert witness work, and management counseling
  • Frequent speaker and has written several publications
  • Member of numerous professional organizations
  • M.B.A. degree, Rutgers Graduate School of Management; B.A. degree, Rutgers College
  • Can be contacted at [email protected] or 732-846-5454
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman

All of your training, right here at Lorman.

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Product ID: 405581
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