How to Prepare an Operating Budget | Managerial Accounting

Understanding how to build and utilize operating budgets can significantly help organizations plan and control costs within the business. Let's learn about the role operating budgets play within an organization, the key elements of an operating budget—including a sales budget, production budget, and budgets for manufacturing and administrative costs — and how to prepare an operating budget. We'll also learn the difference between static and flexible budgets.

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00:00 Intro
01:18 Purpose and role of budgeting
02:18 Role of the operating budget
02:33 Key elements of the operating budget