Budgeting essentials and development from Coursera

The Budgeting Essentials and Development course focus on an integrative and practical view of concepts, methods, and techniques to develop a budget.

After finishing this course, learners will be able to:

- Develop the budget with a broad view of the corporate functions;

- Integrate the strategic guidelines into the discussions of budgeting process;

- Structure the budget planning and development in a logical sequence

- Coordinate the project of budget planning with the different areas of the company

- Actively promote assumptions discussions to improve the process of developing the budget

- Apply financial concepts to support the budget planning process

- Design a budget monitoring and control model to support the performance management

- Evaluate the performance of the company by managing the results and the budget

In this course, learners will have a deeper understanding of the budgeting process, its challenges, common issues, and approaches to mitigate the problems and improve the learning curve of budget planning.

It is integrative by emphasizing the transition between the corporate strategy and the budget. It is practical by following a structured process of going through a framework that illustrates and demonstrates how to analyze, develop and control the budget.

What's inside

Syllabus

Module 1: Strategy & Budgeting - Planning & Controlling

As the budgeting process needs strategic guidelines, and these guidelines drive the planning process, corporate managers develop the budget plan accordingly to the strategic guidelines.The budget contributes to the roll-out of programs, projects, and actions to implement in the organization. These programs and projects are planned in the budget development process. In this module of the course, the discussions aim to overview the transition between strategy to the budget planning process. The course is targeted to professionals who actively participate in the budgeting process, e.g., professionals who have been recently promoted to a managing position, in which the scope of responsibilities are broader, especially in the budget planning, monitoring, and control. Pre-requisites to benefit the most from this course is basic to intermediate business management knowledge and concepts.

MODULE 2 - Corporate budgeting

The corporate budgeting process begins with the strategic guidelines, goes through the discussions of what may be the influence of the guidelines on the assumptions, and culminate in supporting the budget planning process. In this module, the discussions are about the aspects related to this process. Learning objectives include understanding the link between corporate budgeting and the business unit budgeting process; aligning strategic guidelines with planning guidelines, and assessing the connections of the corporate budget to the business level budget.

Module 3.1 - The company operations and the Budget

In this module, the discussion goes through a step-by-step framework to support the budget development. Each of the steps represents a relevant component of the budget, and the links between the budget of each area of the company are discussed. The integration of the different area's budget is one of the primary objectives of this module, which will lead learners to an integrative view of the budget development. And this integration is the key learning objective of the module.

Module 3.2 - The company operations and the Budget

MODULE 4 - Financial and reporting model

In this module, we will develop an understanding of how to consolidate the reporting model on the budget, through a financial approach with emphasis on a budget perspective. To build this knowledge, we will walk through a conceptual overview and components, visit an overall managerial view of profits and losses, work on the cash budget and forecasting cash-flow concepts and application. We also discuss the accounting reports and the relevance of the financial and non-financial indicators.

MODULE 5 - Budget control

This module focuses on the “control” side of the budget. We understand how to apply concepts, and will be guided on how to monitor and measure results, analyze and evaluate the potential gaps between actual and estimated outcomes.

MODULE 6 - Planning Process – Approaches and evolution

Approaches and evolution: In this module, you will learn by reflecting about the different approaches to planning processes. We will walk with you through the aspects of efficiency and efficacy, connecting with budgeting. We will also debate traditional versus some trended methodological approaches, their benefits, and limitations. This Module closes our Course.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Taught by several instructors, this course is quite extensive and well-rounded in coverage

Helps learners develop a holistic view of budgeting, spanning the corporate, business unit, and departmental levels

This course takes a practical view of the budgeting process, applying frameworks to illustrate how to analyze, develop, and monitor budgets

Provides a strong foundation in budgeting basics, including strategic planning, financial concepts, and performance management

Suitable for professionals who have recently moved into management roles with broader budgeting responsibilities

May require some foundational business management knowledge for optimal comprehension

Reviews summary

Budgeting framework basics

Learners say that this course provides a useful overview of budgeting frameworks, strategic planning, and traditional and alternative budgeting methods. Students report that the course covers income statements and provides some examples, although some wish there were more in-depth explanations and practical applications. Despite the course being largely positive and having engaging assignments, learners found that some instructors were difficult to understand and that there were many typos in the transcripts and reading materials.

Covers budgeting basics.

"Learners say that this course provides a useful overview of budgeting frameworks, strategic planning, and traditional and alternative budgeting methods."

Some instructors hard to understand.

"Some of the instructors were difficult to understand since English was their second language."

Typos in transcripts and materials.

"The videos are hard to follow, and the transcripts full of typos, which makes that hard to read as well."

Limited practical examples.

"The course is a compendium of theoretical concepts with very few and always decontextualised examples; there are no case studies or practical examples to analyse"

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Budgeting essentials and development with these activities:

Summarize Key Budgeting Concepts from Previous Coursework

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Refreshes prior knowledge of budgeting concepts and terminology, ensuring a smooth transition into the course.

Browse courses on Budgeting

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Review notes or materials from previous coursework on budgeting.
Summarize the key concepts and definitions in your own words.

Review Basic Accounting Principles

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Ensures a solid foundation in basic accounting principles, which are essential for understanding the financial aspects of budgeting.

Browse courses on Accounting

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Review textbooks or online resources on basic accounting principles.
Practice solving accounting problems and exercises.

Read 'Strategic Management' by Fred R. David

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Provides a foundation in strategic management concepts and frameworks, which is essential for understanding the budgeting process.

View Strategic Management on Amazon

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Read the book, taking notes on key concepts and frameworks discussed.
Summarize the key chapters on strategic planning, implementation, and evaluation.

Five other activities

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Solve Budgeting Case Studies

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Reinforces understanding of budgeting concepts and techniques by applying them to real-world scenarios.

Browse courses on Budgeting

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Access budgeting case studies from online resources or textbooks.
Analyze the case studies, identify key issues, and develop solutions.
Compare your solutions with provided answers or discuss them with peers.

Follow Online Tutorials on Budget Monitoring and Control

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Provides additional guidance and practical insights into the techniques and tools used for budget monitoring and control.

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Identify reputable online platforms or resources that offer tutorials on budget monitoring and control.
Follow the tutorials, taking notes on key concepts and best practices.
Apply the techniques learned to your own budgeting practices.

Connect with Budgeting Professionals on LinkedIn

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Establishes connections with experienced professionals who can provide guidance, support, and insights into the field of budgeting.

Browse courses on Budgeting

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Identify and connect with budgeting professionals on LinkedIn.
Request informational interviews or ask questions related to budgeting challenges and best practices.

Participate in Discussion Groups on Budgeting Challenges

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Provides an opportunity to engage with peers, share experiences, and learn from different perspectives on budgeting challenges.

Browse courses on Budgeting

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Identify and join discussion groups or forums related to budgeting.
Actively participate in discussions, sharing insights and asking questions.
Summarize key takeaways and insights from the discussions.

Develop a Budget Proposal for a Mock Company

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Allows you to apply the concepts and techniques learned in the course to a practical scenario, strengthening your understanding of the budgeting process.

Browse courses on Budgeting

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Research industry benchmarks and best practices for budgeting.
Analyze the mock company's financial statements and operations.
Develop a comprehensive budget proposal, including assumptions, revenue projections, and expense plans.
Present and defend your budget proposal to a mock board of directors.

Career center

Learners who complete Budgeting essentials and development will develop knowledge and skills that may be useful to these careers:

Budget Analyst

Budget Analysts are responsible for preparing, analyzing, and evaluating budgets. The Budgeting Essentials and Development course can help you develop the skills you need to succeed in this role, such as understanding how to develop a budget, integrate strategic guidelines into the budgeting process, and coordinate the project of budget planning with different areas of the company.

See salaries and explore the career path for Budget Analyst

Financial Analyst

Financial Analysts provide guidance to companies and individuals on financial matters. The Budgeting Essentials and Development course can help you build a foundation for a career in financial analysis by providing you with a strong understanding of budgeting and financial concepts.

See salaries and explore the career path for Financial Analyst

Management Consultant

Management Consultants help organizations improve their performance. The Budgeting Essentials and Development course can help you develop the skills you need to succeed in this role, such as understanding how to analyze and develop budgets, and how to coordinate with different areas of a company.

See salaries and explore the career path for Management Consultant

Operations Manager

Operations Managers are responsible for planning, organizing, and directing the operations of an organization. The Budgeting Essentials and Development course can help you develop the skills you need to succeed in this role, such as understanding how to develop and implement budgets, and how to monitor and control performance.

See salaries and explore the career path for Operations Manager

Project Manager

Project Managers are responsible for planning, executing, and closing projects. The Budgeting Essentials and Development course can help you develop the skills you need to succeed in this role, such as understanding how to develop and manage budgets, and how to track and control project progress.

See salaries and explore the career path for Project Manager

Risk Manager

Risk Managers are responsible for identifying, assessing, and mitigating risks. The Budgeting Essentials and Development course can help you develop the skills you need to succeed in this role, such as understanding how to develop and implement risk management plans, and how to monitor and control risks.

See salaries and explore the career path for Risk Manager

Strategic Planning Manager

Strategic Planning Managers are responsible for developing and implementing strategic plans for organizations. The Budgeting Essentials and Development course can help you develop the skills you need to succeed in this role, such as understanding how to develop and implement budgets, and how to monitor and control progress.

See salaries and explore the career path for Strategic Planning Manager

Business Analyst

Business Analysts are responsible for analyzing business processes and identifying opportunities for improvement. The Budgeting Essentials and Development course can help you develop the skills you need to succeed in this role, such as understanding how to develop and implement budgets, and how to track and monitor performance.

See salaries and explore the career path for Business Analyst

Financial Planner

Financial Planners help individuals and families plan for their financial future. The Budgeting Essentials and Development course can help you develop the skills you need to succeed in this role, such as understanding how to develop and implement budgets, and how to track and monitor progress.

See salaries and explore the career path for Financial Planner

Investment Analyst

Investment Analysts are responsible for evaluating and recommending investments. The Budgeting Essentials and Development course can help you develop the skills you need to succeed in this role, such as understanding how to develop and implement budgets, and how to track and monitor performance.

See salaries and explore the career path for Investment Analyst

Loan Officer

Loan Officers are responsible for evaluating and approving loan applications. The Budgeting Essentials and Development course can help you develop the skills you need to succeed in this role, such as understanding how to develop and implement budgets, and how to track and monitor performance.

See salaries and explore the career path for Loan Officer

Portfolio Manager

Portfolio Managers are responsible for managing investment portfolios. The Budgeting Essentials and Development course can help you develop the skills you need to succeed in this role, such as understanding how to develop and implement budgets, and how to track and monitor performance.

See salaries and explore the career path for Portfolio Manager

Tax Accountant

Tax Accountants are responsible for preparing and filing tax returns. The Budgeting Essentials and Development course can help you develop the skills you need to succeed in this role, such as understanding how to develop and implement budgets, and how to track and monitor performance.

See salaries and explore the career path for Tax Accountant

Auditor

Auditors are responsible for examining and verifying financial records. The Budgeting Essentials and Development course may be helpful in developing the skills you need to succeed in this role, such as understanding how to develop and implement budgets, and how to track and monitor performance.

See salaries and explore the career path for Auditor

Compliance Officer

Compliance Officers are responsible for ensuring that organizations comply with laws and regulations. The Budgeting Essentials and Development course may be helpful in developing the skills you need to succeed in this role, such as understanding how to develop and implement budgets, and how to track and monitor performance.

See salaries and explore the career path for Compliance Officer