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Course Detail: MSM-1000 - Financial Management for the FBO [MSM 1000]
Overview
Embry-Riddle Aeronautical University's (ERAU) Financial Management for the Fixed Base Operator (FBO) is designed for professionals who want to better understand financial operations for the FBO. Course content focuses on best practices in the general aviation industry, accepted accounting principles and efficient budgeting techniques. Learn the basics of budgeting, forecasting, financial management, taxation, and cost recovery. Students receive an accounting primer to help aviation professionals to better understand accounting principles and financial reports. The financial, taxation and insurance considerations of aircraft acquisitions and ownership are presented to provide a thorough study of principles and practices of financial management including cash flow, accounts payable, accounts receivable, introductions to forms, payroll management, sources of funds, and tax obligations. This course is part of Embry-Riddle's FBO Management professional education program.
Who Should Attend
- FBO managers
- Managers of FBO flight department finances
- Professionals working in the industry looking to advance their understanding of FBO operations
Course Objectives
Upon completing the course, students should be able to demonstrate a comprehensive and broad-based understanding of:
- Accounts receivable and payable
- Budgeting and forecasting
- Compliance and enforcement of government regulations
- Cost accounting
- Financial planning
- Inventory and cost control
- Management of payroll
- Overall financial management of the FBO
- Taxation and its impact on flight department financial obligations
- Vendor relationships
Course Information
This is an online asynchronous instructor facilitated course with weekly modules and assignments, but no scheduled meeting times. Students should plan to spend approximately 10-15 hours per week working through the course. Coursework is web-based with no additional software required, although a reliable internet connection is recommended. All courses open 48 business hours in advance of each start date, and must be completed by their scheduled end dates. Digital certificates are available upon successful completion of individual courses. Printed certificates are mailed only upon completion of a full certificate program.