Course Details
Author: Steven M. Bragg, CPA
Steven Bragg, CPA, has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst & Young. He received a master’s degree in finance from Bentley College, an MBA from Babson College, and a Bachelor’s degree in Economics from the University of Maine. He has been a two-time president of the Colorado Mountain Club, and is an avid alpine skier, mountain biker, and certified master diver. Mr. Bragg resides in Centennial, Colorado. He has written more than 300 books and courses, including New Controller Guidebook, GAAP Guidebook, and Payroll Management.
Publication/Revision Date: 6/9/26
Course Exam Questions: 70 (multiple-choice)
Program Delivery Method: Self-Study (NASBA QAS Self-Study)
Available Formats of Course Text: Downloadable PDF, Printed/Mailed
Course Level, Prerequisites, and Advance Preparation Requirements
| License | Course Level | Prerequisites | Advance Preparation Requirements |
|---|
| CPA | Overview | None | None |
* This program is appropriate for professionals at all organizational levels.
Sponsor ID Numbers
National Registry of CPE Sponsors I.D.: 107615
State CPA Board Sponsor ID Numbers (where applicable)
Florida Division of Certified Public Accounting: 0004761
Hawaii Board of Public Accountancy: 14003
New York State Board for Public Accountancy: 002146
Ohio Accountancy Board: CPE .51 PSR
Pennsylvania State Board of Accountancy: PX178025
Texas State Board of Public Accountancy: 009349
Learning Objectives
As a result of studying the course material, you should be able to meet the objectives listed below:
- Specify the advantages and disadvantages of budgeting.
- Specify the areas within an organization where there is a bureaucracy supporting the use of budgeting.
- Identify the components of cost-volume-profit analysis, and how it can be used.
- State the types of budgets that are included in the system of budgets.
- Recognize the operating decisions that can impact the system of budgets.
- Cite the sources of information for the revenue budget, and note how this budget is used.
- Specify how different decisions can impact the amount of finished goods inventory on hand.
- Identify how the production budget is compiled, and the issues to consider when constructing it.
- Specify how the direct materials budget is compiled.
- Identify the components of the direct labor budget, and how it is compiled.
- Cite the line items used in the manufacturing overhead budget, and the nature of these costs.
- State the sources of the cost of goods sold budget, and the reasons for changes in the expense.
- Identify the sales and marketing activities that can affect revenue, as well as the methods used to compile and present the sales and marketing budget.
- Specify how the research and development budget is derived, as well as how to review the budget for effectiveness.
- Cite the line items usually found in the administration budget.
- Identify the methods used to review capital budgeting proposals.
- Specify the uses to which a headcount budget is put, and whether bonuses should be included in the budget.
- State the components of the master budget, and the factors impacting budgeted asset and liability levels.
- Identify the line items used in a nonprofit budget.
- Cite the advantages and disadvantages of flexible budgeting.
- Identify the situations in which costs can vary, and when they are more likely to be fixed.
- State the nature of zero-base budgets and the process for using them, as well as the nature of conditional budgeting.
- Specify the role of management in an environment where there is no budget.
- Specify the focus of a rolling forecast, and the nature of a continuous budget.
- Identify the procedural steps needed to create a budget, including those steps needed to prevent budget slippage and calculation errors.
- Cite the methods available for improving the efficiency of the budgeting process, and of the budget model.
- State the variances that can be used to compare a budget to actual results.
- Identify the controls that can accompany a budgeting process, and what they are intended to accomplish.
