I.+Module+6000+Introduction+and+Learning+Objectives

=I. Module 6000 Introduction and Learning Objectives ldm=

**__Introduction:__** Module 6000 is focused on budgeting and provides an overview of the next four modules devoted to budgets: Modules 7000 - 10000. In the upcoming lessons, you will be introduced to the master budget, the operating budget, the financial budget, the cash flow budget and flexible budgets. After reviewing the material in this module and the next four modules you should be able to:
 * 1) Define budgeting and understand the role it plays in a company’s planning and control.
 * 2) Understand the components of the master budget.
 * 3) Understand the components of the operating budget.
 * 4) Know how to prepare each component of the operating budget.
 * 5) Be able to use the operating budget components to create a budgeted income statement.
 * 6) Define flexible budgeting and how it is used for planning and control.
 * 7) Explain the differences in a static versus a flexible budget.
 * 8) Know how to prepare a flexible budget for varying levels of activity.
 * 9) Know how to prepare a flexible budget for the actual level of activity.
 * 10) Discuss how flexible budgets can be used for performance analysis.
 * 11) Explain the relationship between the master budget and the financial budget.
 * 12) Identify the different financial budgets.
 * 13) Describe the relationships between the financial budgets.
 * 14) Identify the five sections of the cash flow budget.
 * 15) Know how to prepare a cash receipts budget.
 * 16) Know how to prepare a cash flow budget.
 * 17) Define activity-based budgeting.
 * 18) Define several behavioral dimensions of budgeting.