Help Icon


Course Title
Business Budgeting and Financials: The Basics


Understanding business budgeting and the key financial statements are critical to successfully starting and operating your business. Learn how to develop your own realistic budget and revenue forecasts to help you predict your business profits and future cash requirements. Also learn about the key financial statements and how they can help you to avoid costly mistakes and make sound decisions regarding the future of your business.


upon successful completion of this course, the student will be able to:

  • Realize why a business budget is essential to business success
  • Set up and manage a budget
  • Understand the forecast process to project business revenues and expenses
  • Evaluate their business finances in relation to a budget
  • Identify the key financial statements
  • Recognize key elements of an income statement and a balance sheet
  • Develop a cash flow project worksheet


  1. Why creating and managing budgets are essential to business success
    • Predicting the financial future for your business
    • Completing the financial portion of your business plan
    • Securing financing - bank loans, etc.
    • Planning the operation of your business
  2. Setting up a Budget
    • Key terms
    • Identifying your expenses (one-time expenses, recurring expenses)
    • Sources of acquiring information for your budget
  3. Forecasting revenues and expenses
    • Pricing your product or service - the basics
    • Best case, worst case scenarios
  4. Monitoring your budget
    • Monitoring revenues and expenses
    • Comparing estimated numbers to actual numbers
    • How to resolve common issues using examples
  5. Identifying they key financial statements
    • Income statements - revenues, expenses, profit/loss
    • Balance Sheet - assets, liabilities
    • Cash Flow Statement - revenues, expenses vs. cash
  6. Projecting your cash flow
    • Projecting your cash receipts



Method of Instruction



  • Exam:  No
  • Demonstration of Skills:  Yes
  • Class participation:  Yes