The Essentials of Budgeting for Non-financial Professionals
- Link: The Essentials of Budgeting for Non-financial Professionals
- Topic: Management - Budget & Finance
- Level: Elective
- Sponsor: WebJunction/Skillsoft
- Format: self paced online
- Contact Hours: 1
NOTE: You must have a WebJunction Skillsoft Learning account to access this course. Instructions for setting up an account are in the yellow box on the right side of the Voluntary Certification Homepage.
Click on the link above and enter your learning account login and password. Follow the path below to find the course.
Catalog > Management > The Essentials of Budgeting for Non-financial Professionals
Professionals and functional managers in every department deal with budgets one way or another for providing targets and direction in their day-to-day decision making and control activities. The budget is a formal expression of the plans, goals, and objectives of an organization and familiarity with the essentials of the budget is expected at every level within that organization. This course aims to provide a basic understanding of budgets and their importance in allocating resources and guiding the activities in an organization. It helps you identify the characteristics of an effective budget and the key phases of the budgetary planning process. The course then provides a few examples of different types of budgets and the approaches to budgeting. Finally, the course takes you through variance analysis and how to use a variance report as part of the budgetary control process.Target AudienceNon-financial professionals who wish to gain understanding or refresh their knowledge of finance and accountingPrerequisitesBasic knowledge of accounting and finance functions in an organizationExpected Duration (hours)1.0Lesson Objectives identify the characteristics of an effective budget sequence the key phases of the budgetary planning process match budget elements with the type of budget in which they should be recorded identify key characteristics, advantages, and limitations of two different approaches to budgeting recognize variances that are worth investigating