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How to Budget Training—Managing the Training Function by Alice K. Waagen, Ph.D.

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Chapter . Budget Types and Techniques

Generally, every organization prepares two types of budgets on an annual basis: operating budgets and capital budgets. Operating budgets contain those general and administrative expenses needed to run the business day-by-day: salaries, supplies, travel, and so forth. Capital expenses cover the purchase of equipment and property. You need to consider both of these budgets to effectively manage your fiscal responsibilities.

Operating Budgets

If you approach developing a budget from a financial analyst's point of view, you start with a chart of accounts. This chart lists account codes and account titles used to track expenditures and typically looks something like the sidebar at left.

The norm for most accounting ...

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