Overview/Description A budget is a financial blueprint for planning an organization's activities and controlling its performance over a designated period of time. It helps allocate an organization's resources as it pursues its financial goals. Organizational budgeting refers to activities that focus on the creation of organizational and departmental budgets, their allocation, and their use in monitoring an organization's activities. Departmental heads, managers, and professionals throughout an organization deal with budgets one way or other in their day-to-day operations, and familiarity with...

Overview/Description Budgets translate an organization's strategic plans into actionable goals for respective departments. The cash budget and operating budgets, in particular, help departments plan the allocation and use of organization's financial resources. A budgeted income statement, which is the final operating budget to prepare, represents an organization's expected profitability if activities are carried out as planned in operating budgets. A cash budget is prepared to ensure availability of adequate cash to pay for expenses incurred during budgeted period. This course explores how...