The purpose of this article is to demonstrate how to use a template to teach the budgeting process and how to use the same template to do a sensitivity analysis once the budget process is completed. The template can be used as-is by non-accounting majors. They just have to fill in all of their assumptions by replacing the red numbers. The template can be locked so that students cannot modify the formulas by mistake. Simply protect the worksheet (Review tab > Protect Sheet) and students will be able to only change the assumptions. Accounting majors are shown how to build their own template by using formulas. This requires a good understanding of Excel and of the budgeting process. Once the template is constructed, making modifications to the assumptions is very easy and students can see the results immediately.
Benoit, B. Teaching the budgeting process using a spreadsheet template. The Journal of Financial Modeling and Educational Technology, 1(1), 17-34.