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What You Will Learn
• The history of the budgeting process
• The importance of budgeting for the health of your department and the entire organization
• Various approaches to budget preparation
• Four budget types that compose a master budget
- Sales
- Expense/Operational
- Cash
- Capital
• Common tools used in preparing budgets
- Corporate strategy
- The financial statements
- Sales forecast
- Past budgets
• How to manage variances
• Forecasting
• The purpose of flexible, performance and activity based budgeting
• How to draft a budget through a case study
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