American Management Association Seminars

The Essentials Of Budgeting: From Creation Through Application
Seminar No: 02259 -XNBB
CEU Credits: 1.2
Length: 2 days

Learn to interpret and analyze financial data and convey credibility!

With today’s income shortfalls and unmet forecasts, correctly interpreting financial information is critical to your success. At this seminar you’ll learn how to establish financial policy and report on the performance of your department in financial terms. With companies struggling to make ends meet, every manager must understand budgeting.

Like it or not, the budget is the yardstick that top management uses to measure your actual performance. And in today’s tight economy, the manager who knows how to plan and use the budget effectively wins hands down over the one who doesn’t. So, if you’re a new manager who’s "just a little nervous" about budgeting...or an experienced one who wants to smooth out the rough spots and get a lot more out of the yearly chore...or you just want to "hold your own" with financial managers, come to the seminar that can boost your numbers and your career!

Every manager with budget responsibilities.

How You Will Benefit:

  • Examine the purpose and use of a budget
  • Learn how to develop a revenue budget
  • Be able to translate managerial decisions into dollars
  • Set monthly targets and prepare for contingencies
  • Get your budget approved

What You Will Cover:

  • Key elements of the budgeting process: Integrating management's goals, working with operating budgets, costs and expenses, controlling cash and structuring a capital budget
  • Budgeting administrative expenses
  • Capital budgeting: Measuring payback, establishing present value and choosing the right alternative
  • Financial planning and the budget process: Choosing profitable objectives, building the balance sheet and budgeting cash requirements Note: Please bring a laptop or calculator to this meeting.

Extended/Detailed Seminar Outline

Learning Objectives

  • Define Planning and Its Purpose within Your Organization
  • Describe the Planning and Budgeting Cycle
  • Explain the Strategic Planning Process
  • Perform a Strategic Analysis of Your External and Internal Environment
  • Describe the Budgeting Cycle and the Major Elements of the Annual Business Plan
  • Explain the Different Types of Budget Preparation Methods and Identify the Most Appropriate One for Your Organization
  • Describe and Perform the Basic Steps in Preparing an Operating Budget
  • Prepare a Departmental Spending Budget
  • Prepare a Capital Budget and Justify Your Capital Expenditures
  • Identify Opportunities for Cost Reduction
  • Manage the Review and Approval Process More Effectively
  • Manage Departmental Performance against Your Budget
Understanding the Planning and Budgeting Cycle
  • Define Planing and Its Relationship to the Budgeting Process
  • Explain Why Companies Budget
  • Describe the Planning Cycle in a Typical Organization
Tying Strategic Planning to the Budgeting Process
  • Explain the Strategic Planning Process
  • Identify the Strategic Decisions That Can Be Made at Your Management Level
  • Explain How Strategic Analysis Is Related to the Planning and Budgeting Process
  • Perform a Strategic Analysis of the Internal and External Environment
Understanding the Budget Preparation Process
  • Describe the Typical Flow of the Budgeting Cycle in an Organization
  • Identify the Major Contents of the Annual Business Plan
  • Explain the Different Types of Budgets, Their Purpose, and Limitations
  • Explain the Relationship between Budgets and Forecasts
  • Identify Ways to Improve the Budgeting Process in Your Organization
How to Prepare an Operating Budget
  • Explain the Sequence of Steps in Preparing an Operating Budget
  • Prepare a Sales and Cost-of-Sales Budget
  • Calculate Labor Hours Available and Use This Figure to Plan Headcount
  • Calculate Budgeted Overhead Rates
  • Budget Labor, Materials, and Overhead Costs in Total and Per Unit
  • Explain How to Budget Operating Expenses
How to Prepare Your Departmental Budget
  • Prepare a Departmental Spending Budget
  • Budget Expenses More Accurately
  • Prepare a Capital Budget
  • Justify Capital Expenditures
Getting Your Budget Approved
  • Explain How the Review Process Works
  • Manage the Review Process More Effectively
  • Prepare Contingency Plans
  • Explain Behavioral Consequences of the Budgeting Process
  • Identify the "Fat" in Your Budget
Measuring Performance against the Budget
  • Identify Significant Variances
  • Analyze Budget Variances
  • Describe the Characteristics of a Good Budget Reporting System
  • Determine When a Budget Should Be Revised during the Year

Start and End times: first day - 8:30am-5pm, all other days 9am-5pm unless otherwise specified. Your registration confirmation notice will confirm the hotel/conference center for the seminar for which you registered. The information included on this page is all the information available on this seminar. Please use form below to register only. To request information that is not included above please send an email to . Remember to specify the complete seminar number about which you are requesting information.

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Seminars scheduled for the cities below are held at the locations listed below. For location information for other cities in which AMA seminars are held please call or email for information.

New York
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American Management Association (Located in the same building as the Crowne Plaza Hotel) 1601 Broadway On Broadway and 48th Street near Times Square. Entrance is on 48th Street.

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City, State, Zip: Atlanta, GA 30309

Washington, DC
Arlington, Virginia
2345 Crystal Drive, Suite 200
Arlington, VA 22202

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Cancellation Policy:
If you cannot attend a seminar you can contact AMA in advance to transfer to a future session, or you can send someone to take your place. If you need to cancel your attendance, AMA will give you a complete refund if you cancel more than three weeks before your seminar begins. To cancel, simply email us at . If you cancel with less than three weeks’ advance notice, you will be liable for the entire seminar fee. Once your payment has been received, you may request a courtesy transfer to use at any future AMA seminar of equal or lesser length. The courtesy transfer must be used within one year of the date of your originally scheduled seminar. In fairness to all attendees, if you do not attend a seminar session for which you are confirmed and do not contact AMA to cancel in advance, you will be charged the entire seminar fee.

AMA grants courtesy transfers to people who cannot attend their scheduled sessions. You can use a courtesy transfer for any seminar of equal or lesser length than the original seminar. You must use your courtesy transfer within one year of the date of your originally scheduled seminar.

AMA guarantees the quality of our seminars. If, for any reason, you are not satisfied with a seminar for which you have paid, AMA will give you credit toward another seminar of comparable price or will refund your fee.

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For additional information and schedules call 919-847-0331.

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