Competency Module: Economics, Budget, Financial Management and Accounting

Description

A critical role that procurement practitioners serve is the responsible and conforming use of funds. Practitioners must understand the regulations surrounding specific purchases, and plan future purchases based on fund availability.  

NIGP’s Economics, Budget, Financial Management, and Accounting is course creates a dedicated learning experience where students leave with the ability to:

• Properly classify an expenditure.
• Identify non-compliant purchases.
• Determine if funds are available.
• Identify what provisions/limitations should be included in the solicitation.
• Work with departments to shift funds when needed.
• Project when funding will be available to manage the purchase.
• Plan capital purchases.
• Make appropriate decisions regarding the encumbrance of funds.
• Identify total cost of ownership.

Objectives

In order to successfully earn a digital badge, learners must:

• Schedule a procurement based on funding attributes.
• Oversee and direct all spend-related activities to promote greater efficiency and effectiveness by engaging in the continuous process of controlling and analyzing entity spend.

Intended Audience

This course is targeted to individuals who meet or exceed the following professional demographics: 

• Mid-level public procurement and central warehouse professionals who serve as senior buyers, managers, directors, or equivalent functions within their respective entities.  
   
• Non-procurement managers and supervisors who either provide procurement functions that support entity programs under delegated authority, or who already have a good understanding of basic procurement principles but wish to get more in-depth, hands-on training. 
   
•  Professionals who are employed by local governing entities and special authorities (such as K-12 and higher education, publicly owned utilities, transportation providers, and other publicly funded or created entities) who either serve within or manage the procurement function.
   
• Supplier managers and supervisors seeking to understand the public procurement function from a more in-depth holistic level, including the policies, standards, and procedures by which public entities must function.