Budgeting with Excel™ for Manufacturing Companies


Course introduction

This intensive and practical workshop starts by introducing you to the different types of costs and let you understand how they each behave. Next, the purpose of budgeting is emphasized to see its necessity in the manufacturing business. We then explain what the different types of budgets are and how they are prepared. Finally, participants will see the relationships of the different budgets to the income statement and balance sheet.

Course Benefits

Upon completion of this workshop, participants will be able to answer the following questions:

  • Why do we need to prepare budgets?
  • What are the different types of costs and their behaviours?
  • How do I forecast Revenue and Expenses?
  • What are the different types of budgets?
  • How do I prepare these budgets using EXCEL™?
  • How are the budgets related to the Income Statement and Balance Sheet?

Target Audience

This Course is highly suitable for any managerial or executive staff members in management, marketing, sales, production, administration, and planning who need an overview and a basic understanding of the budgeting process directly or indirectly in the course of their work.
As a prerequisite, participants are expected to have some basic knowledge of financial accounting. In particular, they need to already know the components and structure of the Income Statement and Balance Sheet.
EXCEL™ will be used in a computer lab equipped with desktop PCs to develop the various budgets. Participants just need to know its basic functionality like =SUM(), relative and absolute cell referencing. The necessary formulas for preparing the various budgets will be taught.

Course Outline

  • Types of costs and their behaviours
  • Purpose of budgeting
  • Define budget and outline its role and importance to an organisation
  • Link budgets to organisation strategy and policy
  • Distinguish the difference between budget and forecast
  • The characteristics of a good budget
  • Recognise the problems and limitations of budgeting
  • Understand the difference between CAPEX & OPEX
  • Forecasting revenue and expenses
  • The Master Budget overview
  • Sales Budget
  • Production Budgets
  1. Direct Material Budget
  2. Direct Labour Budget
  3. Overhead Budget
  • Cost of Goods Manufactured & Sold Budget
  • Selling & Administrative Expense Budget
  • Budgeted Income Statement
  • Cash Budget
  • Budgeted Balance Sheet
  • Case Study on Budgeting

Available Course Sessions

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Trainer Profile


Raymond holds a Bachelor of Business Administration degree from the University of Singapore, as well as a Master of Applied Finance degree from Macquarie University, Sydney. He has more than 35 years of working and training experience in the areas of accounting and finance. He will share his past direct experience in the areas of credit and accounts receivable management at a factoring company and financial institutions.

Furthermore, he has conducted numerous training and seminars for training institutions, universities, corporate clients and the public. To make the training interesting, he uses simple daily analogies to explain complex concepts for easy understanding.