Feb 02, 2023  
2022-2023 Lane Community College Catalog 
    
2022-2023 Lane Community College Catalog
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BT 221 - Budgeting for Managers

4 Credit(s)

Course topics include: budget creation, parts of a budget, gathering information for budgets, creating a product budget, planning and budgeting a project, presenting the budget, budget tracking, HR budgets, small business budgets, and human behavior in relationship to budgets.

Prerequisite: BT 165  or BA 211 . Recommend BT 123 - MS EXCEL for Business .
Learning Outcomes
Upon successful completion of this course, the student should be able to:
1. Understand the role of budgets in planning, implementing and controlling to achieve organizational goals.
2. Understand the trade-offs between budgets as a planning tool versus a controlling tool.
3. Be able to identify cost, revenue and profit centers and understand the potential uniqueness of budgeting for each.
4. Be able to complete the process of designing and creating a budget.
5. Have a basic understanding of the technology and other tools commonly used in budgeting.
6. Define the key components of a successful budget.
7. Explain the use and application of an operating budget.
8. Define the process and techniques of budgeting, including the types of budgets. (static, flexible, incremental, zero based)
9. Apply cost behaviors (fixed, variable and mixed) to the budgeting process.
10. Be able to prepare a budget based on data and criteria that reflect the relational nature of key variables.
11. Understand the relationships and uses of current financial statements, pro forma statements, budgets, forecasts and financial modeling.
12. Understand budget gaming and the behavioral aspects of budget development and implementation.
13. Be able to monitor budgets and utilize variance analysis to practice management by exception.
14. Understand conceptually some of the mathematics applied to budgeting, forecasting and projecting for organizations.



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