Master budget-Components & order of the master budget & examples of each part including budgeted financial statements.
What you'll learn:
1) Managerial accounting concepts and Budget timing methods.2) Characteristics and tasks of the budget committee and Order of operations for a master budget.
3) How to construct a sales budget and How to build a production budget.
4) How to make a materials budget and How to construct a direct labor budget.
5) How to build a factory overhead budget and How to make a general and administrative budget.
6) How to put together a cash budget and How to constructed a budgeted cost of goods manufactured statement.
7) How to build a cost of goods sold budget and How to make a budgeted income statement.
8) How to make a budgeted balance sheet.
Requirements:
An understanding of basic accounting terms.
Description
Master budget construction, including demonstration problems, excel worksheets, practice test questions, discussion questions, and a comprehensive problem we work together using Excel in a step by step format.
The course will provide a managerial accounting overview, comparing managerial accounting and financial accounting, and providing essential managerial accounting tools we will need in the budgeting process.
We will discuss methods of budget timing and the pros and cons of each technique.
The course will discuss the characteristics and functions of the budget committee.
We will discuss the components of a master budget and break it out into its parts, listing the order that those components need to be completed in and so on.......
Who this course is for:
1) Accounting students
2) Business owners
3) Anyone who whats to learn accounting