Cart (0)
Course Detail: CE-2112 - Finance and Budgeting in association with NBAA [CE 2112]
Overview
Embry-Riddle Aeronautical University's (ERAU) Finance and Budgeting for the Corporate Flight Department is designed for anyone who desires more knowledge about how to manage flight department finances using best practices, accepted accounting principles and efficient budgeting techniques. Course content explores the basics of budgeting, forecasting, financial management, taxation, and cost recovery. Students will receive an accounting primer to allow aviation professionals to better understand accounting principles and financial reports. The financial, taxation and insurance considerations of aircraft acquisitions and ownership are also presented. This course is part of Embry-Riddle's Corporate Aviation Management Certificate (CAMC) program.
This course awards 2.4 CEUs upon completion.
Who Should Attend
Since aviation management affects every individual and department, professionals working in various capacities across the aviation industry can benefit from this knowledge including:
- Business aviation and corporate flight department managers
- Corporate pilots taking on new management rolls in their corporate flight department
- NBAA members working on their initial Certified Aviation Manager (CAM) or needing points for CAM renewal, Professional Development Program (PDP), and Schedulers and Dispatchers Professional Development Program (SPDP)
- Professionals working in the industry looking to advance their understanding of business aviation operations
Course Objectives
This course is currently pending NBAA approval for satisfaction of NBAA BM1, BM2, BM3 and BM6 Learning Objectives.
Upon completing the course, students should be able to demonstrate a comprehensive and broad-based understanding of:
- Department budget components
- Budget creation analysis and forecasting strategies
- Strategies for aligning the department budget
- Financial management information systems
- Taxation and its impact on department budgeting
- Aircraft evaluation and acquisition
- Accepted industry budgeting and finance standards
- Cost recovery plans (e.g., charge backs)
- Use of periodic financial reports to monitor budget progress
- Use of budgets for planning and control
- Business plans and policies
- Accounting policies and procedures
- Strategies for monitoring and controlling revenues & expenses
- Typical accounting reports
- Department goals
- Using relevant costs for decision-making models
- Terminology, valuation principles and financial reports
- Total asset management
- Principles of sunk costs, operating costs, appraisals and bench marking
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.