Lessons
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Lesson 1
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Budgeting fundamentals
Overview
Discussing the purpose of budgeting
Relating a budget to a strategic plan
Following the budgeting process
Identifying the elements of a budget
Classifying business expenses
Cash and master budgets
Identifying the types of budgets
Discussing cash budgets
Discussing master budgets
Putting together budgets
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Lesson 2
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Reviewing budgets
Analyzing budgets
Analyzing variances
Analyzing past performance
Justification and approval
Discussing the budget approval process
Identifying budgeting process guidelines
Identifying budgeting pitfalls
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Lesson 3
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Operating budgets
Operating budget basics
Identifying categories in an operating budget
Operating budget terminology
Classifying costs and revenue
Setting the bottom line
Operating budget methods
Identifying methods of creating an operating budget
Discussing zero-based budgeting
Discussing activity-based costing
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Lesson 4
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Manufacturing budgets
Manufacturing budget basics
Identifying the components of a manufacturing budget
Discussing flexible budgets
Interpretation
Interpreting key measurements
Interpreting variance
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Lesson 5
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Variance, forecasts, and action plans
Variance and forecasts
Classifying variance
Using variance and forecasts to understand performance issues
Action plans
Implementing action plans
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Lesson 6
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Capital budgets
Capital budget basics
Discussing the basics of capital budgets
Defining capital budget terminology
Calculating depreciation
Discounted cash flow method
Discounting cash flows for investment decisions
Identifying discount rates
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Lesson 7
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Capital budget analysis
The capital budgeting process
Assembling a capital budget
Justifying a capital budget
Capital budget evaluation
Approving capital budget requests
Evaluating capital investment decisions
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