Budget Concepts for Non-Financial Leaders
This online engineering PDH course attempts to address that situation by helping non-financial employees understand some of the major considerations involved in budget development and introduces them to typical budget development questions such as "how would the quality of an organization's leadership skills impact the development of a budget?"
Organizations commonly expect their mid-and lower level leaders to do their best to keep activities "within the budget" or to curtail non-essential activities near the end of the fiscal year when the budget is nearly depleted. Rarely, though, do these organizations involve these same leaders in the data selection, collection, and manipulation necessary in the typical budget development process. The budgets are simply imposed on them as they are told "you can only spend this much" and "we will tell you when to stop spending".
The 4 PDH online course is intended for those professionals in mid-level or line leadership positions in organizations or projects who do not have financial backgrounds to understand more about the behind-the-scenes activities involved in selecting, collecting, and monitoring data involved in typical budget development. It helps non-financial leaders understand the variables associated with a budget; the various methods of collecting historical data for predicting future demands; how to utilize break-even points in determining equipment and staffing needs; and shows them a practical way to monitor a budget using typical spreadsheet software.
This PE continuing education course is intended to provide you with the following specific knowledge and skills:
- Understanding the need for a budget
- Considering important topics and questions when developing a budget
- Understanding why the quality of leadership skills must be considered when developing a budget
- Developing a budget using historical data
- Learning how to use various data forecasting methods and when
- Understanding what it the organization's "general ledger" and why you should know
- Learning how and why to use "break even" points in determining equipment and staffing needs
- Understanding and applying the concepts of "capacity" and "forecasting"
- Understanding each department's role and responsibility in managing their share of the budget
- Developing a budget monitoring process
In this professional engineering CEU course, you need to review the document titled, "Budget Concepts for Non-Financial Leaders".
Upon successful completion of the quiz, print your Certificate of Completion instantly. (Note: if you are paying by check or money order, you may print your Certificate of Completion after we receive your payment.) For your convenience, we will also email you your Certificate of Completion. Also, you can log in to your account at any time to access and print your Certificate of Completion.