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.
Who is this class for: This course is for professionals who have up to the intermediate experience, who have worked in budgeting for few years, and recently the scope of responsibilities has increased. Not only the broadness of areas has widened, but also the level of participation including budget planning coordination activities have increased. They may be new managers who need to improve overall budget planning and development knowledge and skills. And in this process, their objective is to create more value for the company by mastering more areas of knowledge, which includes budget planning and development. Professionals of different industries may benefit from doing this course.
Created by: Fundação Instituto de Administração
Taught by: Alberto Sansiviero Jr., MBA
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Taught by: Samantha Mazzero, MSc, MBA, BS Math
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Taught by: Nelson Yoshida, Ph.D., MBA, B.Eng.
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Taught by: Roberto Dumas Damas, M.Sc., CFA
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Taught by: Fernando Fleury, Ph.D.
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| Level | Intermediate |
| Commitment | 7 weeks of study, 3 - 5 hours/week |
| Language | English |
| How To Pass | Pass all graded assignments to complete the course. |
Syllabus
WEEK 1
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, 3 readings, 3 practice quizzes
- Video: Welcome session and course overview
- Leitura: Full course overview
- Video: Video 1 - The planning cycle
- Teste para praticar: Practice quiz: Strategy analysis and the budget.
- Video: Video 1 - The management responsibilities
- Teste para praticar: Test your improvement through this quiz
- Video: Video 1 - Benefits and Limitations
- Leitura: Benefits and Limitations
- Video: Video 1 - The connections with the budget
- Teste para praticar: Check your improvement on the topics by doing this quiz
- Video: Video 1 - A transition through planning and controlling
- Video: Video 2 - Positioning the company between planning and controlling
- Leitura: Readings of - The trade-off between “more planning” versus “more control”
Graded: From strategy to the budget
WEEK 2
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, 7 readings, 4 practice quizzes
- Video: Video 1 - Strategy and the budget at corporate level
- Leitura: Reading - Corporate budgeting overview
- Video: Video 2 - Strategy and the budget at business level
- Leitura: Reading - Corporate budgeting - The link between strategy and the budget
- Teste para praticar: Take this quiz to test your improvement
- Video: Video 1 - The governance and the budget
- Video: Video 2 - Governance and the budget: Practical aspects
- Leitura: Readings: Governance and the budgeting process
- Teste para praticar: Take this quis to test your improvement
- Video: Video 1 - Executive commitment
- Video: Video 2 - Objectives, communications, expectations and opportunities
- Leitura: Readings: Budget planning guidelines
- Teste para praticar: Take this quiz to test your improvement
- Video: Video 1 - A general overview
- Leitura: Readings: Overview on budget development framework
- Video: Video 2 - Starting the budget development
- Leitura: Readings: Overview on budget development framework - Part 2
- Teste para praticar: Test your improvement through this quiz
- Video: Video 1 - Information system and the budget
- Leitura: Readings - The management information system and the budget
Graded: Corporate budgeting
WEEK 3
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, 18 readings, 3 practice quizzes
- Video: Video 1 - A framework to structure budgeting - The revenue budget
- Leitura: A framework to structure budgeting - The revenue budget
- Video: Video 2 - Structuring revenue by product lines
- Leitura: Structuring revenue by product lines
- Video: Video 3 - Structuring revenue by contracts and territories
- Leitura: Structuring revenue by contracts and territories
- Video: Video 4 - Forecasting revenue
- Leitura: Forecasting revenue
- Video: Video 5 - Major issues on revenue forecasting
- Leitura: Major issues on revenue forecasting
- Teste para praticar: Budget development framework
- Video: Video 1 - The ending inventory budget
- Leitura: The ending inventory budget
- Video: Video 2 - Production budget
- Leitura: The production budget
- Video: Video 3 - Direct materials budget
- Leitura: Direct materials I
- Video: Video 4 - Direct materials: Combining Methods
- Leitura: Direct materials II
- Teste para praticar: The company operations and the Budget.
- Video: Video 1 - The direct labor budget
- Leitura: The direct labor budget
- Video: Video 2 - The manufacturing overhead budget
- Leitura: Manufacturing overhead
- Teste para praticar: Direct Labor and Manufacturing Overhead
- Video: Video 1 - Cost of goods sold
- Leitura: The cost of goods sold
- Video: Video 1 - Introduction to marketing and sales budget
- Leitura: Introduction to marketing and sales budget
- Video: Video 2 - Structuring marketing and sales budget
- Leitura: Structuring marketing and sales budget
- Video: Video 3 - Analysis on marketing and sales
- Leitura: Analysis on marketing and sales budget
- Video: Video 4 - Advertising
- Leitura: Advertising
- Video: Video 5 - Issues on marketing and sales budget
- Leitura: Issues on marketing and sales budget
- Video: Video 6 - Performance management
- Leitura: Performance management
Graded: Test your improvement by doing this quiz
WEEK 4
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, 11 readings, 2 practice quizzes
- Video: Video 1 - Introduction to R&D budgeting
- Leitura: Introduction to R&D budgeting
- Video: Video 2 - R&D funding
- Leitura: R&D funding
- Video: Video 3 - Structuring and controlling R&D
- Leitura: Structuring and controlling R&D budget
- Teste para praticar: Test your learning improvement on R&D budget analysis through this quiz
- Video: Video 1 - Administration Budget and connections with other budgets
- Video: Video 2 - Structuring administration budget and major issues
- Leitura: Administration Budget
- Teste para praticar: Assessment: R&D and Administration budget
- Video: Video 1 - Capital Budget: Scope overview
- Leitura: Capital Budget - Scope overview
- Video: Video 2 - Capital Budget: Additional analyses
- Leitura: Capital Budget - Additional analyses
- Video: Video 3 - Outsourcing and leasing as alternatives
- Leitura: Outsourcing and leasing as alternatives
- Video: Video 1 - Putting the budgets together: The Master Budget
- Leitura: Putting the budgets together - The Master Budget
- Video: Video 2 - Balance Sheet components
- Leitura: Balance Sheet components
- Video: Video 3 - Cash behavior and financial needs
- Leitura: Cash behavior and financial needs
- Video: Video 4 - Supporting balance sheet analysis
- Leitura: Supporting balance sheet analysis
Graded: For testing your improvement, do this quiz on capital budget and the master budget
WEEK 5
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, 4 readings, 3 practice quizzes
- Video: Video 1 - Budget monitoring and financial report
- Video: Video 2 - Financing the company - Strategy, budget and financial report
- Leitura: Conceptual overview and components
- Teste para praticar: : Check your improvement on the topics by doing this quiz
- Video: Video 1 - Financial management and working capital
- Video: Video 2 - The relevance of working capital and cash
- Leitura: Managerial view of cash and the budget
- Teste para praticar: Test your improvement through this quiz
- Video: Video 1 - A budget perspective on financial reports
- Video: Video 2 - Financial statements - Cash is king
- Leitura: Financial statements and the budget
- Teste para praticar: Test your improvement through this quiz
- Video: Video 1 - Measuring performance: Indicators
- Video: Video 2 - Financial performance management
- Leitura: Financial and non-financial indicators
Graded: Financial and non-financial indicators
WEEK 6
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, 4 readings, 4 practice quizzes
- Video: Video 1 - Why Plan, Budget vs Actual Results and Introduction to Variance
- Video: Video 2 - Variance
- Video: Video 3 - The Connection of Budget and Strategy
- Leitura: Why Plan, Budget vs Actual Results, Variance and The Connection between Budget and Strategy
- Teste para praticar: Overview on control function
- Video: Video 1 - Standards, Objectives & Budgets used to measure performance
- Video: Video 2 - Internal Control
- Leitura: Standards, Objectives, and Budgets used to measure performance & Internal Control
- Teste para praticar: Concepts on controlling the budget
- Video: Video 1 - Results Analysis
- Video: Video 2 - Goals achievement and performance management
- Leitura: Results Analysis, Goals Achievement and Performance Management
- Teste para praticar: Results analysis and performance management
- Video: Video 1 - Strategic Planning Process and the Budget – Part 1
- Video: Video 2 - Strategic Planning Process and the Budget – Part 2
- Leitura: Strategic Planning Process and the Budget
- Teste para praticar: Why monitor and control: Strategy and the Budget
Graded: For an overall retrospective of the Budgeting Essentials and Development course, test your learning improvement by doing this QUIZ
WEEK 7
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, 8 readings, 3 practice quizzes
- Video: Video 1 - The planning process and approaches
- Leitura: The planning process and approaches
- Teste para praticar: Test your learning improvement on planning approaches by doing this quiz
- Video: Video 1 - Traditional budget planning
- Leitura: Traditional budget planning
- Video: Video 2 - Processes of planning and the traditional approach
- Leitura: Processes of planning and the traditional approach
- Teste para praticar: Test your learning improvement on planning approaches by doing this quiz
- Video: Video 1 - Traditional budgeting - The limitations
- Leitura: The traditional budget planning and its limitations
- Teste para praticar: Test your learning improvement on limitations of traditional planning approaches, by doing this quiz
- Video: Video 1 - Introduction overview on beyond budgeting
- Video: Video 2 - Flexible and Bracket Budgeting
- Leitura: Flexible and Bracket Budgeting
- Video: Video 3 - Zero-Based-Budgeting
- Leitura: Zero-Based Budgeting (ZBB)
- Video: Video 4 - Rolling Forecast
- Leitura: Rolling Forecast
- Video: Video 5 - Activity-Based Budgeting
- Leitura: Activity-Based Budgeting
- Video: Video 1 - Course wrap-up session
Graded: Testing your knowledge on the budget planning and the new approaches to budgeting
FAQs
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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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