Understanding and Managing Budgets

Description

This online self-paced course covers budgets and how they are used in organizational settings. You will gain an understanding of the uses and functions of master budgets, operating budgets, sales, production and cost of goods sold budgets, and cash budgets. You will also learn how organizations are using different budgeting techniques to deal with operating challenges.

Objectives

Upon successful completion of this course participants will be able to:

• Recognize the uses and functions of budgeting
• Recognize the key activities, considerations, and benefits of strategic organizational planning
• Recognize the purpose and make-up of a master budget
• Identify the components and calculations used to create a master budget and recognize uses for this information
• Identify the components and purpose of an operating budget
• Recognize how sales, production, and cost of goods sold budgets are created and perform related calculations
• Recognize the purpose of cash budgets and how they are prepared
• Identify ways the budget process can be managed for optimal results and recognize the benefits and limitations of the management-by-objective system

Intended Audience

This course is targeted to individuals who meet or exceed the following professional demographics:  

• Entry-level public procurement and central warehouse professionals who serve as assistants, coordinators, buyers, or equivalent functions within their respective entities.   

• Non-procurement managers and supervisors who are responsible for either the procurement function or staff who provide procurement functions under delegated authority.   

• Professionals who are employed by governing entities and special authorities (such as K-12 and higher education, publicly-owned utilities, transportation providers, and other publicly-funded or created organizations) that either serve within or manage the procurement function.  

• Suppliers or representatives of suppliers seeking to understand the public procurement function from a holistic level, including the policies, standards, and procedures by which public entities must function.