This course will provide the student with the underlying principle and concepts around Budgeting, Planning and Control. Actual data vs. budgeted data produces variances that will be analyzed for future decision making and forecasting. This data is also important for risk management and to control its activities, amend plans and review corporate strategies.
Tipo asignatura
Tercer - Obligatoria

Profesores Titulares

Conocimientos previos

The objective of this course is to familiarize the students with the budgeting, planning and the control process.

They will be able to understand the parameters that need to be known and evaluated to prepare a budget, whether it is a personal one, a small business one, or a multinational company one. Their knowledge of accounting will be put to use in the preparation of budgets and projections, but new strategic planning and risk control concepts will be introduced.

Students will be able to:

Apply traditional budget process for business and personal applications.

Understand and be able to apply basic concepts of forecasting and budget preparation and control. Having special attention to sales forecast and budget.

Understand the corporate subordinate budgets (i.e. cash flow, capital expenditures, balance sheet, projects, etc) and how these budgets collectively form the master budget for the company.

Value the inclusion of various functions in an organization to prepare the budget as well as the importance of forecast accuracy for the business success.

Develop their own criteria to conduct risk management within the budget and the importance of budgets to achieve EBITDA.


Introduction/ Personal, Master, Sales, Cash and Capital Expenses Budget/ Forecasting/ Production, Material and Logistic Budget/ Selling and Administrative Expenses Budget/ Service Business general budget exercise/ Budget Income Statement/ Budget and Balance Sheet/ Report and Control.


The course is oriented towards individual and group learning, including collaborative learning.

The students are expected to create, prepare and fill in data.

Review of Budgets´ charts and tables to further on analyze them and drive conclusions.

Conceptual class discussions.

Collaborative learning includes learning by reading, teaching, helping others and practicing.

Assignments to work at home or in class individually or as team work.

Field work.


The Course grade will be based on the following points:

Attendance: 10%

Real business Team work & presentation: 15%

Assignments, Quizzes, Participation, Attendance: 20%

Mid-term exam: 25%

Final examination: 30%

Criterios evaluación
Bibliografía básica

Shim, K. Jae, BUDGETING BASICS & BEYOND, 3rd Edition.

Material complementario