The goal of creating and presenting a budget is to have that budget approved so that the project can move forward. Thus, understanding the budgeting process is critical for every leader. Even if you do not have an accounting background, knowing how to justify costs in a persuasive way can make the difference between success and failure.
This course walks you through the budgeting process and gives you the tools to create budgets that work. At the end of this course you should be able to:
+ List and explain the typical types and uses of budgets.
+ Explain the general process of budgeting.
+ Provide examples of typical categories of costs and benefits.
+ Discuss how cost-volume profit analysis can aid in decision making.
+ Explain how to calculate a break-even point, return on investment, and pay-back period.