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  • Budgeting Concepts: Iyadmourtada, Cia, Cma, Cfe, CPLP

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    The document discusses key concepts related to budgeting. It introduces topics like the role of budgets, common budget periods, participants in the budgeting process, and tools used for budget preparation. Additionally, it examines concepts such as cost standards, the budget cycle, and budgetary slack which is excess funds budgeted but not necessarily needed. The document provides information to help understand fundamental elements of the budgeting process.

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    Budgeting concepts

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    The document discusses key concepts related to budgeting. It introduces topics like the role of budgets, common budget periods, participants in the budgeting process, and tools used for budget preparation. Additionally, it examines concepts such as cost standards, the budget cycle, and budgetary slack which is excess funds budgeted but not necessarily needed. The document provides information to help understand fundamental elements of the budgeting process.

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    32 views29 pages

    Budgeting Concepts: Iyadmourtada, Cia, Cma, Cfe, CPLP

    Uploaded by

    mayura
    The document discusses key concepts related to budgeting. It introduces topics like the role of budgets, common budget periods, participants in the budgeting process, and tools used for budget preparation. Additionally, it examines concepts such as cost standards, the budget cycle, and budgetary slack which is excess funds budgeted but not necessarily needed. The document provides information to help understand fundamental elements of the budgeting process.

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    of 29

    Budgeting

    Concepts

    IyadMourtada, CIA, CMA, CFE, CPLP

    IyadMourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com


    Budgeting Concepts

    • Introduction to Budgeting

    • Role of the Budget

    • Budget Periods

    • Budget Participants

    • Cost Standards

    • Budget Preparation Tools

    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com


    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Budget Cycle
    International Budget Partnership

    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com


    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Managers can
    Budgetary
    Slack
    underestimate the amount
    of income or revenue that
    Amount Budgeted

    will come in over a given


    Amount Needed
    amount of time, or
    overestimate the expenses
    that are to be paid out over
    the same time period.

    This will create “Budgetary


    Slack”, which is the excess
    of amount budgeted over
    and actual amount needed.
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Budgetary Slack
    Advantages Disadvantages
    • Decreases the ability to highlight
    • Provides flexibility for
    weaknesses and take timely
    operating under unknown
    corrective actions on problem
    circumstances.
    areas.
    • Offsets the costly setups
    • Decreases the overall
    from design changes
    effectiveness of corporate
    and/or small lot size orders.
    planning.

    • It limits the objective evaluation


    of departmental managers and
    performance of subordinates by
    using budgetary information.

    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com


    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    Iyad Mourtada, CIA, CMA , CFE, CPLP Openthinkingacademy.com
    iyad.mourtada@gmail.com
    http://ae.linkedin.com/in/iyadmourtada
    http://twitter.com/iyadmourtada
    http://www.youtube.com/Iyadmourtada
    http://www.iyadmourtada.com
    http://www.facebook.com/iyad.mourtada
    iyadmourtada

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