Master Budgets – Managerial Accounting/Cost Accounting

Master Budgets – Managerial Accounting/Cost Accounting

Master budget-Components & order of the master budget & examples of each part including budgeted financial statements

What you’ll learn

  • Managerial accounting concepts
  • Budget timing methods
  • Characteristics and tasks of the budget committee
  • Order of operations for a master budget
  • How to construct a sales budget
  • How to build a production budget
  • How to make a materials budget
  • How to construct a direct labor budget
  • How to build a factory overhead budget
  • How to make a general and administrative budget
  • How to put together a cash budget
  • How to constructed a budgeted cost of goods manufactured statement
  • How to build a cost of goods sold budget
  • How to make a budgeted income statement
  • How to make a budgeted balance sheet

Requirements

  • An understanding of basic accounting terms

Description

Master budget construction, including demonstration problems, excel worksheets, practice test questions, discussion questions, and a comprehensive problem we work together using Excel in a step by step format.

The course will provide a managerial accounting overview, comparing managerial accounting and financial accounting, and providing essential managerial accounting tools we will need in the budgeting process.

We will discuss methods of budget timing and the pros and cons of each technique.

The course will discuss the characteristics and functions of the budget committee.

We will discuss the components of a master budget and break it out into its parts, listing the order that those components need to be completed in.

The course will discuss how to put together a sales budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

We will discuss how to put together a production budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

The course will discuss how to put together a materials budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

We will discuss how to put together a direct labor budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

The course will discuss how to put together a factory overhead budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

We will discuss how to put together a general and administrative budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

The course will discuss how to put together a cash budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

We will discuss how to put together a budgeted cost of goods manufactured statement and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

The course will discuss how to put together a budgeted cost of goods sold statement and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

We will discuss how to put together a budgeted income statement and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

The course will discuss how to put together a budgeted balance sheet and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with.

We will also go over a comprehensive problem in Excel so we can see all the components of the master budget and work through them in one place.Who this course is for:

  • Accounting students
  • Business owners
  • Anyone who whats to learn accounting