Accounting Foundations: Budgeting (2019)

Running an organization without a proper budget (or serving as a manager without insight into your organization's budgeting framework) is an exciting and overwhelming existence. Harnessing the power of a budget gives you the ability to identify challenges and develop strategies on paper to avoid or adapt to those surprises in advance. This course covers the construction of purchase budgets, production budgets, hiring budgets, overhead budgets, and cash budgets. Professors Jim and Kay Stice help you weigh the impact of budgeting on employee morale and show how budgets pay off in the future when you can use them to evaluate your business performance.

Learning objectives
Explain the behavioral factor that helps with the success of a budget process.
Name the alternative term for bottom-up budgeting.
Identify the factor that determines the number of units to be produced when preparing a production budget.
Name the production cost included in the manufacturing overhead budget
List the budget used by merchandising companies.
Assess the weaknesses of using a static budget.