The basic budget for non-financiers

Overview

Not only the finance department needs to understand the essentials of budgeting and financing. Given the importance of finance for non-financial professionals, it is in everyone’s interest to have a basic knowledge of one of the most important aspects of business finance – budgeting. In this course, you will learn how to identify the characteristics of an efficient budget, the stages of planning one, and how to distinguish between different types of budget. You’ll also explore budgeting concepts and techniques, such as historical and zero-based budgeting, variation analysis, capital budgeting, and budgeting.

Objectives

• Recognize the attributes of an efficient budget
• Recognize the stages of the budget planning process
• Distinguish between different budget items and the type of budget to which they apply
• Recognize the advantages and disadvantages of historical budgeting
• Recognize the features, advantages and disadvantages of zero budgeting variables worth analyzing
• recognition of the key features of the three methods of capital budgeting
• correlation of the formulas for the Repayment Period and the Net Present Value with the calculation of the budget used in the activity