Creating and Analyzing an Operating Budget
- Link: Creating and Analyzing an Operating Budget
- Topic: Management - Budget & Finance
- Level: Basic
- Sponsor: WebJunction/Skillsoft
- Format: self paced online
- Contact Hours: 3.5
NOTE: You must have a WebJunction Skillsoft Learning account to access this course. Instructions for setting up an account are in the yellow box on the right side of the Voluntary Certification Homepage.
Click on the link above and enter your learning account login and password. Follow the path below to find the course.
Catalog > Management > Creating and Analyzing an Operating Budget
Working without a well thought-out operating budget can be compared to playing Pin the Tail on the Donkey. Although a company might know the direction in which it wants or needs to go, without a budget it must simply feel around in the dark and hope it comes close to its target. Unfortunately, if a business uses this approach, it will eventually fall victim to cash flow problems that could result in its downfall. As many would agree, the budget process in any business can be challenging and time-consuming. However, for a business to survive long-term, it must have a clear view of its goals and its means of achieving those goals. A well-planned budget is just the tool to help steer your company in the right direction--your company will be able to make critical decisions based on current facts and reasonable forecasts. In this course, you will learn the key components of an operating budget and be able to create a budget that you can manage and control. You will also learn various techniques to analyze your financial information, address variances, and, as a consequence, improve your company's operational performance and profitability.