Effective budgeting skills are critical to the success of any organisation. Introduction to Budgeting, Fourth Edition, is a practical text designed to instruct students in preparing business budgets. Although this revision has been specifically written to meet the requirements of the budgeting modules from the Financial Services Training Package (Accounting) delivered by TAFE institutes, it can be readily used in all courses that involve the preparation of budgets.
Goods and Services Tax (GST) is now an integral part of the life of every business in Australia. Although GST has led to additional administration and accounting requirements for business, we demonstrate how it is possible to take advantage of the additional cash funds flowing through the books of the business.
The fully revised chapters on cash budgets and budgeted statements of financial position include suggested methods of planning for both GST collected and GST paid, which will enable improved cash management. In particular, there will be times when the cash generated can be used by the business as an additional source of finance.
# A Budgeting Workbook CD is provided for free at the back of the text. It contains illustrative examples and Microsoft Excel® worksheets that provide students with appropriate budget formats in which to complete the practical exercises in the text
# The structure of the text follows the logical sequence of developing budgets
# Each chapter begins with an opening statement that summarises the key concepts that will be covered
# Clear, worked examples from service and manufacturing organisations are included throughout the text
# Activities following the examples enable students to reinforce the skills they have just learnt
# Solutions to selected activities are provided at the end of each chapter to enable students to check their work and understanding
# Graded revision exercises at the end of each chapter provide students with an additional opportunity to apply the practical budgeting skills they have learnt
# Introduction of Excel instructions for use in examples and activites when teaching budgets and using spreadsheets
# The text has been fully revised in relation to changes to accounting standards and business practices in Australia
# Expanded coverage of budgeting theory is included
# GST has been incorporated into Chapters 7 and 8
# Chapter 5, on cost-of-production budgets, has been simplified and now includes new material to reflect the fact that raw materials and direct materials are synonymous
# Chapter 2 now describes how information can be analysed in different ways, such as through the use of ratios, percentage increases and/or decreases, and averages
# Chapter on budgeted statement of financial position is included (chapter 9), replaces the chapter on budgeted balance sheets
# Chapter 8 on Cash Budgets provides a method for introducing flows associated with GST
# The text features new coverage of retailer and wholesaler purchases budgets
# Thorough explanations of budgeting concepts
# Sep-by-step illustrations of the processes involved for manual preparation of budgets
# Suggested techniques for preparing budgets using spreadsheets
David - Kangan Batman Institute of TAFE
David Flanders, BCom (Deakin), B Ed (Deakin), is a teacher of accounting and computing subjects in the Finance, Management and Marketing Studies Department at the Kangan Batman Institute of TAFE in Melbourne.
He has over 9 years' experience in teaching, curriculum development, and the writing of self-paced learning materials. Currently he teaches accounting and computerised accounting using both MYOB and a range of other computing modules.
His writing experience includes several published texts on accounting and computer applications, and he has recently worked as a writer on projects for TAFE Frontiers (Accounting).
1. Budgeting concepts
2. Revenue budgets
3. Purchases budgets
4. Production budgets
5. Cost-of-producation budgets
6. Operating expenses budgets
7. Budgeted statement of financial position
8. Cash budgets
9. Budgeted statement of financial position