|Course Code||Standard Fee||NYSC Fee||Degree Type|
Modern businesses are an epitome of uncertainty and complexity. Over the period, this uncertainty and complexity in business has led to the development of various managerial tools, techniques and procedures useful in managing business successfully. Of all these, budgeting is the most common and widely used standard device for planning and control. This course provides fundamental understanding of budgeting, budgeting process and includes a practical guide for preparing and mastering financial budgets.
Diploma and First Degree (Waiver: High School (O’Level) with minimum of 2 years work experience in a related field can apply).
By the time you complete this course, you should be able to:
1. Overview of budgeting
2. Different types of budgets
3. Different approaches to budgeting
4. The process of preparing budget and budgetary control
Module 1: Overview of budgeting
The basic concepts of budget and budgeting
Budgeting and forecasting
Budgeting and management
Budgeting and planning
Budget procedures and budget administration
Module 2: Types of budgets
The components of operating budget
The components of financial budget
Module 3: Approaches to budgeting
The various approaches to building budgets
The distinctive features of each approach to budgeting.
Module 4: Preparing a budget
The preparation of operating budgets
The preparation of financial budgets
Module 5: Budgetary control
The basic concepts of budgetary control
The process of budgetary control
Module 6: Calculators in Budgeting
Flexible Budget Calculator
Sensitivity Analysis Calculator
Cash flow Calculator
Due to emerging global trends, changes in the world and globalization across borders, our course outline, regularly change from time to time to meet up with this development and gives you leverage in a competitive world.
The concepts in this course will be taught using a combination of lecture, discussion, and dialogue around cases, with emphasis on active learning. A case is a comprehensive exposition of a real managerial situation describing a set of problems and requiring a plan of action. The case method provides a pragmatic framework for the learning process. Its success depends heavily on student preparation and active participation in class discussions.
To complete this course successfully, students must achieve a passing grade of 50% or higher on the overall course. This will include assignments and option test exam.