Preparation of the Operating Budget Step-by-Step, Part 1 Preparing the Sales Budget and the Cash Collections Budget Everything seems to go better when you have a plan! For businesses, the “plan” is the operating budget, sometimes called the master budget. In this video, we demonstrate the step-by-step preparation of basic sales and cash collections budgets. In the next video, Part 2, we will demonstrate the step-by-step preparation of the production budget, the direct materials budget and the direct labor budget. Please visit the Channel to see other step-by-step videos covering a range of accounting topics. Thank you for tuning in! Mike Werner