Budgeting essentials and development
Fundação Instituto de Administração
About this Course
The Budgeting Essentials and Development course focus on an integrative and practical view of concepts, methods, and techniques to develop a budget.
After finishing this course, learners will be able to:
- Develop the budget with a broad view of the corporate functions;
- Integrate the strategic guidelines into the discussions of budgeting process;
- Structure the budget planning and development in a logical sequence
- Coordinate the project of budget planning with the different areas of the company
- Actively promote assumptions discussions to improve the process of developing the budget
- Apply financial concepts to support the budget planning process
- Design a budget monitoring and control model to support the performance management
- Evaluate the performance of the company by managing the results and the budget
In this course, learners will have a deeper understanding of the budgeting process, its challenges, common issues, and approaches to mitigate the problems and improve the learning curve of budget planning.
It is integrative by emphasizing the transition between the corporate strategy and the budget. It is practical by following a structured process of going through a framework that illustrates and demonstrates how to analyze, develop and control the budget.
Syllabus - What you will learn from this course
1
Section
Module 1: Strategy & Budgeting - Planning & Controlling
As the budgeting process needs strategic guidelines, and these guidelines drive the planning process, corporate managers develop the budget plan accordingly to the strategic guidelines.The budget contributes to the roll-out of programs, projects, and actions to implement in the organization. These programs and projects are planned in the budget development process. In this module of the course, the discussions aim to overview the transition between strategy to the budget planning process.
The course is targeted to professionals who actively participate in the budgeting process, e.g., professionals who have been recently promoted to a managing position, in which the scope of responsibilities are broader, especially in the budget planning, monitoring, and control.
Pre-requisites to benefit the most from this course is basic to intermediate business management knowledge and concepts.
7 videos (Total 30 min), 3 readings, 4 quizzes
7 videos
Video 1 - The planning cycle4m
Video 1 - The management responsibilities5m
Video 1 - Benefits and Limitations4m
Video 1 - The connections with the budget5m
Video 1 - A transition through planning and controlling3m
Video 2 - Positioning the company between planning and controlling4m
3 readings
Full course overview10m
Benefits and Limitations10m
Readings of - The trade-off between “more planning” versus “more control”10m
4 practice exercises
Practice quiz: Strategy analysis and the budget.10m
Test your improvement through this quiz6m
Check your improvement on the topics by doing this quiz15m
From strategy to the budget30m
2
Section
MODULE 2 - Corporate budgeting
The corporate budgeting process begins with the strategic guidelines, goes through the discussions of what may be the influence of the guidelines on the assumptions, and culminate in supporting the budget planning process. In this module, the discussions are about the aspects related to this process. Learning objectives include understanding the link between corporate budgeting and the business unit budgeting process; aligning strategic guidelines with planning guidelines, and assessing the connections of the corporate budget to the business level budget.
9 videos (Total 48 min), 7 readings, 5 quizzes
9 videos
Video 2 - Strategy and the budget at business level5m
Video 1 - The governance and the budget3m
Video 2 - Governance and the budget: Practical aspects3m
Video 1 - Executive commitment4m
Video 2 - Objectives, communications, expectations and opportunities6m
Video 1 - A general overview4m
Video 2 - Starting the budget development6m
Video 1 - Information system and the budget7m
7 readings
Reading - Corporate budgeting overview8m
Reading - Corporate budgeting - The link between strategy and the budget6m
Readings: Governance and the budgeting process4m
Readings: Budget planning guidelines8m
Readings: Overview on budget development framework3m
Readings: Overview on budget development framework - Part 23m
Readings - The management information system and the budget6m
5 practice exercises
Take this quiz to test your improvement10m
Take this quis to test your improvement6m
Take this quiz to test your improvement10m
Test your improvement through this quiz5m
Corporate budgeting30m
3
Section
Module 3.1 - The company operations and the Budget
In this module, the discussion goes through a step-by-step framework to support the budget development.
Each of the steps represents a relevant component of the budget, and the links between the budget of each area of the company are discussed.
The integration of the different area's budget is one of the primary objectives of this module, which will lead learners to an integrative view of the budget development.
And this integration is the key learning objective of the module.
18 videos (Total 86 min), 18 readings, 4 quizzes
18 videos
Video 2 - Structuring revenue by product lines4m
Video 3 - Structuring revenue by contracts and territories3m
Video 4 - Forecasting revenue3m
Video 5 - Major issues on revenue forecasting5m
Video 1 - The ending inventory budget3m
Video 2 - Production budget5m
Video 3 - Direct materials budget5m
Video 4 - Direct materials: Combining Methods4m
Video 1 - The direct labor budget5m
Video 2 - The manufacturing overhead budget5m
Video 1 - Cost of goods sold5m
Video 1 - Introduction to marketing and sales budget5m
Video 2 - Structuring marketing and sales budget4m
Video 3 - Analysis on marketing and sales6m
Video 4 - Advertising6m
Video 5 - Issues on marketing and sales budget5m
Video 6 - Performance management4m
18 readings
A framework to structure budgeting - The revenue budget6m
Structuring revenue by product lines5m
Structuring revenue by contracts and territories6m
Forecasting revenue7m
Major issues on revenue forecasting5m
The ending inventory budget5m
The production budget6m
Direct materials I6m
Direct materials II6m
The direct labor budget7m
Manufacturing overhead8m
The cost of goods sold10m
Introduction to marketing and sales budget7m
Structuring marketing and sales budget10m
Analysis on marketing and sales budget7m
Advertising8m
Issues on marketing and sales budget8m
Performance management12m
4 practice exercises
Budget development framework8m
The company operations and the Budget.10m
Direct Labor and Manufacturing Overhead10m
Test your improvement by doing this quiz30m
4
Section
Module 3.2 - The company operations and the Budget
In this module, the discussion goes through a step-by-step framework to support the budget development.
Each of the steps represents a relevant component of the budget, and the links between the budget of each area of the company are discussed.
The integration of the different area's budget is one of the primary objectives of this module, which will lead learners to an integrative view of the budget development.
And this integration is the key learning objective of the module.
12 videos (Total 64 min), 11 readings, 3 quizzes
12 videos
Video 2 - R&D funding5m
Video 3 - Structuring and controlling R&D6m
Video 1 - Administration Budget and connections with other budgets5m
Video 2 - Structuring administration budget and major issues6m
Video 1 - Capital Budget: Scope overview5m
Video 2 - Capital Budget: Additional analyses5m
Video 3 - Outsourcing and leasing as alternatives3m
Video 1 - Putting the budgets together: The Master Budget3m
Video 2 - Balance Sheet components6m
Video 3 - Cash behavior and financial needs6m
Video 4 - Supporting balance sheet analysis5m
11 readings
Introduction to R&D budgeting6m
R&D funding8m
Structuring and controlling R&D budget14m
Administration Budget12m
Capital Budget - Scope overview9m
Capital Budget - Additional analyses9m
Outsourcing and leasing as alternatives8m
Putting the budgets together - The Master Budget8m
Balance Sheet components11m
Cash behavior and financial needs11m
Supporting balance sheet analysis11m
3 practice exercises
Test your learning improvement on R&D budget analysis through this quiz10m
Assessment: R&D and Administration budget14m
For testing your improvement, do this quiz on capital budget and the master budget30m
5
Section
MODULE 4 - Financial and reporting model
In this module, we will develop an understanding of how to consolidate the reporting model on the budget, through a financial approach with emphasis on a budget perspective. To build this knowledge, we will walk through a conceptual overview and components, visit an overall managerial view of profits and losses, work on the cash budget and forecasting cash-flow concepts and application. We also discuss the accounting reports and the relevance of the financial and non-financial indicators.
8 videos (Total 83 min), 4 readings, 4 quizzes
8 videos
Video 2 - Financing the company - Strategy, budget and financial report7m
Video 1 - Financial management and working capital12m
Video 2 - The relevance of working capital and cash12m
Video 1 - A budget perspective on financial reports8m
Video 2 - Financial statements - Cash is king8m
Video 1 - Measuring performance: Indicators8m
Video 2 - Financial performance management14m
4 readings
Conceptual overview and components20m
Managerial view of cash and the budget20m
Financial statements and the budget10m
Financial and non-financial indicators10m
4 practice exercises
: Check your improvement on the topics by doing this quiz8m
Test your improvement through this quiz8m
Test your improvement through this quiz10m
Financial and non-financial indicators30m
6
Section
MODULE 5 - Budget control
This module focuses on the “control” side of the budget. We understand how to apply concepts, and will be guided on how to monitor and measure results, analyze and evaluate the potential gaps between actual and estimated outcomes.
9 videos (Total 41 min), 4 readings, 5 quizzes
9 videos
Video 2 - Variance4m
Video 3 - The Connection of Budget and Strategy2m
Video 1 - Standards, Objectives & Budgets used to measure performance2m
Video 2 - Internal Control4m
Video 1 - Results Analysis4m
Video 2 - Goals achievement and performance management7m
Video 1 - Strategic Planning Process and the Budget – Part 16m
Video 2 - Strategic Planning Process and the Budget – Part 26m
4 readings
Why Plan, Budget vs Actual Results, Variance and The Connection between Budget and Strategy11m
Standards, Objectives, and Budgets used to measure performance & Internal Control10m
Results Analysis, Goals Achievement and Performance Management10m
Strategic Planning Process and the Budget15m
5 practice exercises
Overview on control function12m
Concepts on controlling the budget12m
Results analysis and performance management16m
Why monitor and control: Strategy and the Budget16m
For an overall retrospective of the Budgeting Essentials and Development course, test your learning improvement by doing this QUIZ30m
7
Section
MODULE 6 - Planning Process – Approaches and evolution
Approaches and evolution: In this module, you will learn by reflecting about the different approaches to planning processes. We will walk with you through the aspects of efficiency and efficacy, connecting with budgeting. We will also debate traditional versus some trended methodological approaches, their benefits, and limitations. This Module closes our Course.
10 videos (Total 42 min), 8 readings, 4 quizzes
10 videos
Video 1 - Traditional budget planning6m
Video 2 - Processes of planning and the traditional approach4m
Video 1 - Traditional budgeting - The limitations6m
Video 1 - Introduction overview on beyond budgeting0m
Video 2 - Flexible and Bracket Budgeting3m
Video 3 - Zero-Based-Budgeting4m
Video 4 - Rolling Forecast3m
Video 5 - Activity-Based Budgeting3m
Video 1 - Course wrap-up session2m
8 readings
The planning process and approaches5m
Traditional budget planning5m
Processes of planning and the traditional approach5m
The traditional budget planning and its limitations5m
Flexible and Bracket Budgeting5m
Zero-Based Budgeting (ZBB)10m
Rolling Forecast5m
Activity-Based Budgeting6m
4 practice exercises
Test your learning improvement on planning approaches by doing this quiz6m
Test your learning improvement on planning approaches by doing this quiz8m
Test your learning improvement on limitations of traditional planning approaches, by doing this quiz6m
Testing your knowledge on the budget planning and the new approaches to budgeting50m
4.8
Top Reviews
By SM•Dec 19th 2017
The course gave me holistic view of budgeting process. Excellent course, highly recommended.
By MB•Jan 6th 2018
Highly recommended, also to the upper-intermediate of economics matter and students
Instructors
Samantha Mazzero
MSc, MBA, BS Math
Nelson Yoshida
Ph.D., MBA, B.Eng.
Roberto Dumas Damas
M.Sc., CFA
Fernando Fleury
Ph.D.About Fundação Instituto de Administração
A FIA está entre as 3 melhores escolas de negócios do país e no grupo das 55 melhores do mundo, no ranking do Financial Times. Trabalhamos ininterruptamente na geração de conhecimento aplicado e de novas práticas de excelência na Administração. Atuando nas áreas da Consultoria, Educação Executiva e Pesquisa, em 2016, a FIA foi reconhecida/premiada como a melhor instituição com soluções voltadas a Educação Executiva, pela conceituada revista The New Economy.
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