Basic Budgeting for Non-financial Professionals

Everyone
  • 9 videos | 23m 32s
  • Includes Assessment
  • Earns a Badge
  • Certification PMI PDU
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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.

WHAT YOU WILL LEARN

  • 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

IN THIS COURSE

  • 37s
    In this course, you'll learn about planning an effective budget, the stages involved, and different types of budgets. You'll also be introduced to Historical and Zero-based budgeting, variance analysis, capital budgeting, and performing budgeting calculations. FREE ACCESS
  • 2m 57s
  • Locked
    3.  Planning a Budget
    2m 50s
    When planning a budget, it may be tempting to rush through it so you can get going with the project. However, budgetary planning is not a race – it's a journey. And there are some very important stops you have to make along the way. Your planning process needs to go through a few crucial phases if you want your budget to be effective in the long run. FREE ACCESS
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    4.  Sales, Production, and Cash Budgets
    2m 59s
    The sales budget is one of the most common functional budgets. In this video, you'll learn about the different functional budgets and how to prepare them. FREE ACCESS
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    5.  Historical Budgeting
    2m 40s
    There are two commonly-used approaches to budgeting: Historical budgeting and Zero-based budgeting. While these two can be used individually just fine, they can also be used together. In this video, you will learn about the advantages and disadvantages of each approach. FREE ACCESS
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    6.  Zero-based Budgeting
    2m 22s
    To ensure the budget you're planning is effective, you can use one of two approaches – Historical budgeting or Zero-based budgeting. These two are standalone, but can be used together – if you understand the difference between them and the pros and cons of each approach. FREE ACCESS
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    7.  Budgetary Variance Analysis
    2m 58s
    A variance is the difference between the amount you budgeted for, and the actual amount. Because life hardly ever goes according to plan, actual results will often differ from what you planned for in your budget. In this video, you'll learn about the various analytical tools that may help you ensure that your costs and revenues won't come in much higher or lower than calculated. FREE ACCESS
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    8.  Capital Budgeting
    3m 3s
    When making investment decisions, always remember to "look before your leap." And that's where capital budgeting comes in. In this video, you'll learn about the different methods for appraising investments. FREE ACCESS
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    9.  Performing Budget Calculations
    3m 6s
    The payback period, or PP, method evaluates risk based on the amount of time – the payback period – it takes a company to recover the money it's invested. This method's ideal when sifting through investment options. FREE ACCESS

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