BM3: Financial Management

This online interactive and NBAA-approved Professional Development Program (PDP) course covers the Business Management 3 (BM3) objective in entirety. The BM3 objective has eight sub-objectives. Each sub-objective has a video lesson, ebook, and bonus audio MP3 of the video lesson. The course includes quizzes, discussions, and a certificate of completion. Completion of this course requires approximately 4.25 hours. It need NOT be completed in one sitting.

Topics covered in this course:

• a. Recognize and apply generally accepted accounting principles (e.g., valuation and depreciation, use of general ledger)
• b. Identify aviation department budget components including immediate and forecasted (e.g., life cycle, maintenance, training, depreciation, fixed and variable costs)
• c. Create budget based on accounting principles, budget components and forecasted aircraft use
• d. Implement strategies to align the aviation department budget into the overall company budget and financial systems
• e. Utilize periodic financial and accounting reports to monitor budget progress (e.g., budget vs. actual, run rate, profit & loss, balance sheet) and implement strategies for controlling revenues and expenses
• f. Identify permitted cost allocation and recovery plans (e.g., charge backs, warranty)
• g. Determine applicable regulatory requirements (e.g., Sarbanes-Oxley, Foreign Corrupt Practices Act [FCPA])
• h. Determine and apply internal and external controls and audits using expertise within department and company