10/26/2019 ACCT 2020-Prof.

Dave Alldredge Hyrum Portlock

Comprehensive Master Budget Project

In completing this Comprehensive Master Budget I have realized that Budgets are a way
that we can analyze how and where our money in being used. We can tell money where to go
and let it work for us. Not using a budget is a poor way to manage money and many
people/businesses will buy things they can’t afford with money they don’t have. There are 3
things that I have realized after completing this assignment. Learning Excel Functions and the
purpose of functions, knowledge to putting together a Master Budget and a realization that
Accounting is something I enjoy.

During this semester while taking Accounting 2020 I have also been taking an Excel
Course to help improve my excel skills, I never understood what “functions” were in excel and
didn’t know how to start them. The purposes of them in excel and why it can be very useful to us
is that it uses a network of logarithm within its cells to form a calculator that works of various
cells. As we enter the inputs the output can change to what we want it to look like

The Master Budget was interesting to learn about. When I thought of a budget before I
think of the basic household budget where you simply calculate your Income and minus your
expenses to have your net cash flow that you can then use to save for things you want to such as
a house, new clothes, computers ect. As for the Master Budget it is used for businesses where
they can calculate how much money they want to allocate to certain things and then based on
what the ending balance was they could determine what could be used the next month. I would
rate this activity fairly easy because you are given all of the information where you just start
plugging in the amounts and using the simple functions to solve the math for you.

I plan on pursing a degree in Accounting and Finance as I believe these are important
skills to have in our personal financial life. If anyone is to success financially they need to create
a budget and stick to it. Those that was to make more money start businesses and need the
accounting/financial skills to make decisions for the company in which the company can make
more cash flow for them, or investors who need financial knowledge.

In conclusion with this assignment I would rate the skills before this assignment a 4 to a 6
after completing this project. I still have much to learn about excel but what I loved in this
assignment is how easy it is to set up a table and start with the budgeting. I enjoyed every bit of
it. This assignment did challenge me a few times as I may have missed a few steps which can be
difficult to track where the error is.