- NY Credits : 3.0
- TX Credits : 3.0
The primary principles and objectives of financial management include internal auditing, management of costs, preparation of forecasts and budgets, measuring financial performance and making capital investment decisions. This course provides an overview of financial management to include the attributes and performance standards for internal auditing as published by the Institute of Internal Auditing; techniques for managing and controlling costs; the process for creating an effective forecast and budget; tools for financial performance analysis using metrics; and an overview for the process of managing working capital including capital investment decisions. This basic level course is most beneficial to professionals new to financial management who may be staff or entry level. It may also benefit an experienced professional with limited exposure to this topic.
Upon successful completion of this course, the user should be able to:
recognize the skills, goals, objectives and responsibilities of a financial manager;
identify the attributes and performance standards for internal auditing as published by the Institute of Internal Auditing;
define fixed costs, variable costs, economies of scale, standard costing, activity-based costing and cost-benefit analysis;
determine the key aspects of an effective forecast and budget;
identify methods for analyzing financial data utilizing financial ratios and metrics; and
recognize effective ways to manage working capital and make solid capital investment decisions.