Budgeting for Managers

Budgeting for Managers

Authors: Sid Kemp

Published: January 2003

eISBN: 9780071416801 0071416803 | ISBN: 9780071391337

Contents

Preface

1. Budgeting: Why and How

Why Make a Budget? Who Reads Budgets?

Eight Steps to Creating a Budget

Success Review

Manager’s Checklist for Chapter 1

2. The Parts of a Budget

Time Periods of Your Budget

Budget and Vision

Forecasting Income

Expense Categories vs. Account Codes

Key Accounting Concepts

Manager’s Checklist for Chapter 2

3. Gathering Production Figures

Gathering Past Figures

Working with Multiple Periods

Working with Account Categories and Line Item Names

Evaluating the Quality of Your Information

Working with Multiple Periods and Trends

Manager’s Checklist for Chapter 3

4. Creating a Production Budget

Estimation Methods

Planning the Future in Detail

A Sample Manufacturing Budget

Manager’s Checklist for Chapter 4

5. Planning and Budgeting a Project

Define the Project

Create the Work Plan

Calculate the Cost

Tracking a Project

Manager’s Checklist for Chapter 5

6. Checking It Twice

Using a Partner for Proofreading

Errors Created by Spreadsheet Programs

Automatic Cross-Checking in Spreadsheets

Document Version Control

Verifying Budgetary Assumptions

The Final Proofreading Steps

Manager’s Checklist for Chapter 6

7. Preparing for Presentation

Combining Parts of Your Budget

Revising Budgetary Assumptions

Creating Templates and Formatting a Budget

Adding Account Codes

Preparing a Budget Presentation

Presentation Formats

Manager’s Checklist for Chapter 7

8. Budgetary Spending

Getting the Budget Authorized

Adjusting to the Authorized Amount

Setting up Your Budget with Accounting

Spending at the Beginning and the End of the Year

Manager’s Checklist for Chapter 8

9. Tracking Your Budget

Authorizing and Tracking Expenses

Closing a Budget Period

Comparing Estimated Versus Actual Budgets

Overspending and Underspending

Adjusting the Budget

Reviewing Financial Statements

Manager’s Checklist for Chapter 9

10. Budgeting and Human Resources

HR Management and HR Services

Use of Consulting Services and Outsourcing

Departmental Control

Putting It All Together

Manager’s Checklist for Chapter 10

11. Small Business Money Management

Estimating Business Income

Small Business Payroll

General Financial Management

Seasonal Fluctuation and Available Cash

Setting Prices

Budgets for Customer Proposals

Manager’s Checklist for Chapter 11

12. Mastering the Budget Process

Negotiating for Your Budget

Improving Your Estimation Skills

Timing Your Budget Preparation

The 15-Month Budget

Manager’s Checklist for Chapter 12

Index