Budgeting for Managers

by Kemp, Sid

• ISBN13: 9780071391337
• ISBN10: 0071391339
• Edition: 1st
• Format: Paperback
• Copyright: 2003-02-20
• Publisher: McGraw-Hill Education

Summary

Now translated into 11 languages! This reader-friendly, icon-rich series is must reading for all managers at every levelAll managers, whether brand new to their positions or well established in the corporate heirarchy, can use a little "brushing up" now and then. The skills-based Briefcase Books series is filled with ideas and strategies to help managers become more capable, efficient, effective, and valuable to their corporations.Managers in all types of organizations and environments must be able to prepare, or at least understand, a realistic and results-oriented budget.Budgeting for Managersshy;shy;rich in practical techniques and examplesshy;shy;walks the reader through the entire budgeting process, from basic financial concepts and their use in creating a budget to methods for tracking actual spending.

Author Biography

Sid Kemp is a trainer, author, and consultant, and the head of Quality Technology & Instruction, Inc.

Eric Dunbar is CFO of QTI and works with entrepreneurs to set up financial systems.

Table of Contents

Preface	p. ix
Budgeting: Why and How	p. 1
Why Make a Budget? Who Reads Budgets?	p. 2
Eight Steps to Creating a Budget	p. 5
Success Review	p. 18
Manager's Checklist for Chapter 1	p. 18
The Parts of a Budget	p. 20
Time Periods of Your Budget	p. 20
Budget and Vision	p. 23
Forecasting Income	p. 29
Expense Categories vs. Account Codes	p. 32
Key Accounting Concepts	p. 34
Manager's Checklist for Chapter 2	p. 39
Gathering Production Figures	p. 41
Gathering Past Figures	p. 42
Working with Multiple Periods	p. 45
Working with Account Categories and Line Item Names	p. 50
Evaluating the Quality of Your Information	p. 50
Working with Multiple Periods and Trends	p. 52
Manager's Checklist for Chapter 3	p. 53
Creating a Production Budget	p. 55
Estimation Methods	p. 56
Planning the Future in Detail	p. 58
A Sample Manufacturing Budget	p. 61
Manager's Checklist for Chapter 4	p. 71
Planning and Budgeting a Project	p. 72
Define the Project	p. 73
Create the Work Plan	p. 84
Calculate the Cost	p. 89
Tracking a Project	p. 89
Manager's Checklist for Chapter 5	p. 90
Checking It Twice	p. 92
Using a Partner for Proofreading	p. 92
Errors Created by Spreadsheet Programs	p. 93
Automatic Cross-Checking in Spreadsheets	p. 96
Document Version Control	p. 97
Verifying Budgetary Assumptions	p. 100
The Final Proofreading Steps	p. 101
Manager's Checklist for Chapter 6	p. 101
Preparing for Presentation	p. 103
Combining Parts of Your Budget	p. 104
Revising Budgetary Assumptions	p. 107
Creating Templates and Formatting a Budget	p. 109
Adding Account Codes	p. 110
Preparing a Budget Presentation	p. 111
Presentation Formats	p. 117
Manager's Checklist for Chapter 7	p. 121
Budgetary Spending	p. 123
Getting the Budget Authorized	p. 123
Adjusting to the Authorized Amount	p. 126
Setting up Your Budget with Accounting	p. 128
Spending at the Beginning and the End of the Year	p. 133
Manager's Checklist for Chapter 8	p. 134
Tracking Your Budget	p. 136
Authorizing and Tracking Expenses	p. 137
Closing a Budget Period	p. 142
Comparing Estimated Versus Actual Budgets	p. 144
Overspending and Underspending	p. 144
Adjusting the Budget	p. 147
Reviewing Financial Statements	p. 147
Manager's Checklist for Chapter 9	p. 151
Budgeting and Human Resources	p. 153
HR Management and HR Services	p. 154
Use of Consulting Services and Outsourcing	p. 155
Departmental Control	p. 156
Putting It All Together	p. 165
Manager's Checklist for Chapter 10	p. 166
Small Business Money Management	p. 168
Estimating Business Income	p. 170
Small Business Payroll	p. 173
General Financial Management	p. 174
Seasonal Fluctuation and Available Cash	p. 175
Setting Prices	p. 178
Budgets for Customer Proposals	p. 178
Manager's Checklist for Chapter 11	p. 182
Mastering the Budget Process	p. 184
Negotiating for Your Budget	p. 184
Improving Your Estimation Skills	p. 186
Timing Your Budget Preparation	p. 188
The 15-Month Budget	p. 189
Manager's Checklist for Chapter 12	p. 190
Index	p. 193
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