Basic Budgeting for Non-financial Professionals


Overview/Description
Target Audience
Prerequisites
Expected Duration
Lesson Objectives
Course Number
Expertise Level



Overview/Description
It's not only the Finance department that needs to understand budgeting and finance essentials. Given the importance of finance for non-finance professionals, it's in everyone's best interest to have some basic knowledge of one of the most important aspects of business finance – budgeting. In this course, you'll learn to identify the characteristics of an effective budget, the stages in planning one, and how to distinguish between budgets types. You'll also explore budgeting concepts and techniques such as historical and zero-based budgeting, variance analysis, capital budgeting, and performing budgeting calculations.

Target Audience
Non-financial professionals who wish to gain an understanding or refresh their knowledge of finance and accounting

Prerequisites
None

Expected Duration (hours)
0.5

Lesson Objectives

Basic Budgeting for Non-financial Professionals

  • recognize the attributes of an effective budget
  • recognize the phases of the budgetary planning process
  • distinguish between different budget elements and the type of budget to which they apply
  • recognize the advantages and disadvantages of historical budgeting
  • recognize characteristics, advantages, and disadvantages of zero-based budgeting
  • recognize variances that are worth analyzing
  • recognize the key characteristics of the three methods for capital budgeting
  • match the formulas for Payback Period and Net Present Value to the budget calculation each is used to perform
  • Course Number:
    fin_08_a02_bs_enus

    Expertise Level
    Everyone