In this episode of the RD Exam Made Easy Podcast, you're gonna learn about budgets. Not only are budgets and financial management fair game on the exam, they're a big part of working in management. 

If you end up working in a management role, you'll learn more about budgets and you'll get hands on experience managing a budget. But in the meantime, this conversation will help break down budgets in a way that makes practical sense. 

My guest is Carolynn Givens, a Registered Dietitian who has worked in Food Service Management for the majority of her career. But it wasn't what she went to school for. Like I always say, you never know where you'll end up. 

This is what you'll learn in this episode: 

• An overview of operating budgets
• Capital budgets, what they are, and why it's important to know your department needs
• The benefits of Zero Based and Flex Budgets
• How Sarbanes Oxley Act of 2002 changed the way businesses manage finances and costs

Here's a glance at this episode: 

[07:10] What is a budget and why it's important

[07:43] What a capital budget is and how you can use capital budgets in your department when purchasing large items. Also learn how to get creative when submitting your needs to finance.

[14:10] A review of operating budgets 

[24:13] How food costs drive your budget

[27:50] How inventory management impacts food costs

[29:30] Zero based budgets and how to use them in financial management

[33:45] How Sarbanes Oxley Act of 2002 changed the way businesses manage finances and ultimately costs

[35:37] Cost Center Statements - what they are and what's on them

[37:14] Flex Budgets and how they can help you in a challenging economy. And why you really need to know your business if you don't have a flex budget

[43:30]The best advice Carolynn gives new RD's who are interested in working in a Food Service Management role or any new role as a dietitian