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Updated in [October 07th, 2023]

What does this course tell?
(Please note that the following overview content is from the original platform)
This 2-part course covers both the operational budgeting process and the capital budgeting processIn part 1 of this course we focus on how to prepare an operating budget Done well a budget provides a clear flight plan for where the organization wants to go in a given year what route it plans to take there and what resources it will need to do so However unfortunately few budgets are done well and even fewer leaders use their budget effectively on a day-to-day basis to manage their department business unit or divisionSo to help you buck that trend we will teach you a 4 step process to help you prepare a really good budget and we will also discuss in detail how to use your budget as an effective management toolIn part 2 we then focus on the capital budgeting process This is the process of allocating resources for major capital expenditure or investment expenditures Leaders throughout a company will need to know how to work through this process as and when their strategic plans for their department or division involve significant capital investments It varies by company what the actual threshold is at which a company requires its leaders to go through this process for approval It can be as low as $1000 or as high as $50000We will explore in detail how to analyze any proposed capital expenditure and how to make recommendations based on the outcomes of those analyses This will involve a review of the following 4 capital budgeting methods:Payback periodNet Present ValueInternal rate of return (IRR)Profitability indexAfter working through this part of the course you should feel fully equipped to successfully handle your company's capital budgeting process as and when you need to gain approval for key capital expendituresNote: At the end of each section youll find a downloadable copy of the syllabus for that section of the course

We considered the value of this course from many aspects, and finally summarized it for you from two aspects: skills and knowledge, and the people who benefit from it:
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What skills and knowledge will you acquire during this course?
During this course, the learner will acquire the following skills and knowledge:
1. Operational budgeting process: The learner will learn a 4-step process to prepare a comprehensive operating budget. This includes understanding the organization's goals, planning the budget, allocating resources, and monitoring and controlling the budget. The learner will also understand how to use the budget as an effective management tool.
2. Capital budgeting process: The learner will gain knowledge on how to allocate resources for major capital expenditures or investments. They will learn how to analyze proposed capital expenditures using various methods such as payback period, net present value, internal rate of return, and profitability index. This will enable them to make informed recommendations for capital investments.
3. Budget management: The learner will understand how to effectively manage budgets on a day-to-day basis. They will learn techniques to monitor and control budgets, identify variances, and take corrective actions. This will help them in managing their department, business unit, or division efficiently.
4. Strategic planning: The learner will gain insights into aligning budgeting processes with strategic plans. They will understand how to integrate budgeting with the organization's goals and objectives. This will enable them to create budgets that support the strategic direction of the company.
5. Financial analysis: The learner will develop skills in analyzing financial data related to budgets and capital expenditures. They will learn how to interpret financial statements, evaluate investment opportunities, and assess the financial viability of projects. This will enhance their ability to make informed financial decisions.
Who will benefit from this course?
This course will benefit professionals in various roles and industries. Specifically, individuals in leadership positions, such as department heads, business unit managers, and division leaders, will benefit from learning how to prepare and use an operating budget effectively. By understanding the 4-step process taught in part 1 of the course, these leaders will be able to create a clear flight plan for their organization, determine the necessary resources, and manage their department or division more efficiently.
Additionally, professionals involved in strategic planning and decision-making, especially those responsible for significant capital investments, will benefit from part 2 of the course. This includes leaders throughout the company who need to allocate resources for major capital expenditures. By learning how to analyze proposed capital expenditures using methods such as payback period, net present value, internal rate of return, and profitability index, these professionals will be equipped to make informed recommendations and gain approval for key capital investments.

Course Syllabus

Building an operating budget

How to develop a capital budgeting proposal in 8 steps