Budgeting consumes a massive amount of time and resources. It's a stressful and busy time.

Are there ways to improve the effectiveness of the investment we make in the budget process? Can we make better budgeting decisions that lead to higher performance?

There are options within and beyond traditional budgeting. Each company should consider these options and decide which could improve their budgeting process. Budgeting has many benefits that we can continue to capture and build upon.

In this course, I'll focus on the Master Budget and the budgets that comprise it. There's a method to the madness when different types of assumptions and calculations are layered into the budget. However, the process is not entirely sequential. It abounds with iterative loops.

This course is part of a three-part series I call Better Budgeting. The three parts are:

You can watch all three parts in the order above or watch any part as a stand-alone course.

Note: This course is also available in Text Base Format:
Better Budgeting (Text Based Course)

The course author has been the CFO, SVP of Finance, or Director of Operations of companies with just a few employees to companies with $3 billion in assets and hundreds of employees. He's led, facilitated, or participated in the budgeting process many times.

Course Key Concepts: Budget, Budgeting.

Learning Objectives
  • Identify and recall the role of the master budget and sub-budgets.
  • Explore and recall key steps in the budgeting process.
  • Identify cash implications of a budget.
Last updated/reviewed: September 21, 2023
6 Reviews (32 ratings)


Anonymous Author
Good basic overview of the budgeting process. Could dive a little deeper at certain points and maybe cut some of the review type items.

Member's Profile
was a great overview of the considerations of budgeting and how to bring it all together and which things to think about.

Anonymous Author
I thought this was a great course. It gave an overview to different budgeting methods, calculations, etc.

Anonymous Author
This was a basic, but solid course. Confirmed much of what I already knew.

Member's Profile
Good information and helpful slides. Really like the presentation.

Anonymous Author
excellent overview of key budgeting concepts. slides excellent

Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
  Introduction to Better Budgeting: The Master Budget and Sub-Budgets4:20
  Modeling Revenues and Costs12:36
  The Master Budget and Sub-Budgets12:20
  REVIEW QUESTIONS: The Master Budget and Sub-Budgetsquiz
  The Revenue Budget17:32
  The Production Budgets20:02
  REVIEW QUESTIONS: The Production Budgetsquiz
  Sales and Marketing Budgets12:24
  The Administration Budget9:50
  REVIEW QUESTIONS: The Administration Budgetquiz
  Capital Budgeting15:16
  The Financing Budget15:14
  Master Budget Recap9:16
  Budgeting Compensation11:28
  REVIEW QUESTIONS: Budgeting Compensationquiz
  Better Budgeting: The Master Budget and Sub-Budgets2:20:18
  Slides: The Master Budget and Sub-BudgetsPDF
  The Master Budget and Sub-Budgets GlossaryPDF