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University of New Mexico

Essentials of Budgeting

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About the course

A budget is a written statement of the plans and goals of an organization expressed in dollars. The process of creating, implementing and understanding a budget is often as valuable as the budget itself. When done well, a budget helps an organization work together towards a mission and a shared set of goals.

If accounting isn't your background, it can be frustrating when tasked with reviewing transactions or trying to understand how transactions are recorded. This program will simplify budgeting and accounting, and allow you to focus on keeping track of your finances. If you are a business owner, a manager, or you work with budgets in any way, it will benefit you to learn about all you can about this vital subject. It's easier than you think and critical to planning for success! Understand the process of budgeting through practical hands-on work with actual examples, and gain confidence in using budgets for funding proposals and project success.

Six Sessions

  • What is Accounting and Why are Financial Statements Such a Big Deal...
  • Journal Entries – the Keys to Financial Statements
  • The Income Statement and The Balance Sheet
  • Budgeting Basics – Part I
  • Budgeting Basics – Part II
  • Budgeting in Dynamic Organizations

What will you be able to do?

  • Understand how budgets and accounting statements fit together
  • Identify how to plan, monitor and report against your budget
  • Realize the importance of cost control and forecasting cash flow
  • Enhance your decision-making skills by better understanding the financial impact of your choices
  • Increase your confidence as you contribute your ideas in financial planning meetings with upper management
  • Get your new ideas implemented and applauded for their bottom-line results — rather than set aside and left untested

Who should attend

  • People new to budgeting
  • Small Business Owners
  • Functional managers, professionals, and all individuals involved directly or indirectly with the budgetary planning and an organization's control process
  • Individuals looking to gain a certificate in budgeting, build their resume and enhance their career

Trust the experts

Norman Colter

Norman H. Colter, MBA, CPA is a full-time faculty member in the department of accounting at the Anderson School of Management. He currently teaches an introductory Principles of Financial Accounting class and an Accounting Information Systems class. He earned an Associate in Liberal Arts degree f...


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