#financecertificationcourses

“We want to build our own e-learning. It should be customized for our business.”

This is a common approach. BUT! E-learning is new in India. Most Learning and Development (L&D) teams do not understand the enormous cost, effort and time required, to short term courses in finance.

“We need to buy an LMS, and then get our e-learning on it. We’re then ready to roll out e-learning across our organisation!” Sounds simple. But, like most things in life, there’s an entire elephant hidden behind that assumption.

So, I’m going to give you a quick overview, of what that elephant looks like. You can then make an informed decision, as to what you’re taking on.

First: the Learning Management System (LMS)

Often, this is an enterprise decision – online finance courses if you’re using SAP HRMS, you may add on the SAP LMS. But if you’re choosing a stand-alone, a quick word of advice: put down the MUST HAVE functionalities you need. You’ll find, most LMSs will give you these functionalities – play SCORM compliant courses, integrate with your ERP/HRM software, generate reports, etc. Do NOT be lured by the ‘nice to have’ bells and whistles, into shelling out more. Simple, sturdy, easy to use and with good support.

Next: the E-learning

We will cover ‘how to ensure a good e-learning course’, in a separate post – it needs that detail. Let’s understand here, whether to build or buy – and the implications of both choices.

Let’s look at the “We will build” option. You start by spend cost and time, to evaluate and finalize a vendor.

Now, building GOOD e-learning takes time and is expensive. Assume INR 1-1.5 lakh per E-Learning Hour (ELH), and an output of 2-4 ELHs per month (your review speed, is the bottleneck).

So, if you want to launch with, say, 20-25 hours (a bare minimum) of ELHs, it can take a year. If you’ve invested in an expensive LMS, and it is not being utilized, you’re stuck.

Important but often missed point #1:

E-learning development, will take a lot of YOUR time, as well. It needs a dedicated senior resource, who understands what is needed. So, factor in that cost and time. Most people just measure the vendor cost. But from an organisation’s POV, the cost of your time is a significant cost, too.

Important but often missed point #2:

E-learning needs updation. When it comes to any functional course, a change in even ONE screen can mean that the topic becomes obsolete – you’re imparting wrong learning.

So, factor in ~ 25-30% of the original development cost (including your time), as an annual updation cost. Else, be prepared to dump that expensive e-learning, after 3-4 years.

Updation can cost INR 40,000 per E-learning Hour. The alternative is to trash the courses.

Important but often missed point #3:

Functional skills are about 70-80% standard, across the industry. Otherwise, there wouldn’t be an industry!

The functional skills Jet Airways pilots or cabin crew need are the same, as those from Indigo. HDFC Bank offers fundamentally the same products – deposits, loans, fee based products – that SBI does. It has to. The only thing that’s different is small product & pricing variants; and internal processes.

So, it makes sense to build only that, which is specific to your organisation. If there are courses covering Industry wide products, processes, regulations, why go through all the cost and headache? It makes tremendous sense to buy, or license such courses.

Critical and 99.9% missed point #4:

Support staff cost. You’ll have factored in a team, to manage the LMS. That’s not what we’re talking about: you need a team, to support the learning. What kind of support?

1. Setting and ensuring a learning plan: Basis the course and online finance training, an optimal learning schedule is essential. E-learning is plagued by low completion rates. You need both processes and a team, to ensure that learners stick to learning schedules.

Online finance courses cover an assortment of business management points as a major aspect of degree programs in areas, for example, business organization, accounting or business management. Understudies can likewise take courses just for individual improvement.

The following are a portion of the accounting and finance courses offered online by educational organizations.

Ø  Financial Accounting Course: Students in this course are acquainted with the general standards administering an organization's financial accounting system.  They figure out how this framework is utilized to create a salary proclamation and asset report. They are instructed how to assess this data to check the money related status and execution of an association.

Ø  Accounting Systems Course: Online accounting and finance course students are presented to the accepted procedures and PC innovations accessible to oversee, use and configuration bookkeeping data frameworks. They break down procedures, for example, general records, exchange process cycles and backup records, and pick up encounter planning flowcharts. They find out about the inside controls utilized for extortion recognition and data security.

Ø  Managerial Finance and Accounting Course: Students figure out how to oversee business assets to achieve an association's money related objectives in this online accounting and finance course. They are educated budgetary examination procedures and find out about outer financing, capital structure issues and how to esteem a business or organization. This course likewise trains understudies on how associations utilize figuring, reports and monetary data to settle on administration choices influencing its items and administrations.

Ø  Auditing and Ethical Standards in Accounting Course: This course shows understudies how evaluating assumes a critical part in the bookkeeping procedure. They find out about the moral ramifications of inspecting, and in addition its handy and hypothetical parts. Points incorporate inward control frameworks, inspecting and consistence testing. Understudies additionally find out about the data innovation utilized for these interior controls.

Ø  Real Estate Finance and Investment Basics Course: Students in this separation adapting course figure out how to apply bookkeeping and fund rule that assistance designers, financial specialists, banks and merchants decide impose, future advantages and the income of land resources. Understudies investigate the dangers and prizes of land undertakings and make suggestions on financing and speculations.

Ø  Hotel Accounting and Finance Course:  This Online finance courses shows understudies how bookkeeping and back strategies make a friendliness operation beneficial. Understudies survey the different bookkeeping methodology, phrasing and ideas used to get ready money related explanations and administration reports.

Ø  Finance, Economics, and Decision Making Course: In this course, understudies figure out how to settle on brilliant money related choices by gathering and considering information and factors and applying this data in ways that will animate development in an organization. The class likewise shows understudies about ventures, and also worldwide business dealings.

Ø  Federal Taxation Course: Federal expense hypothesis will be tended to in this course. Salary expense forms will likewise be analyzed.

Ø  Money and Banking Course: In this course, understudies will examine controls in the business of managing an account and how banks work in the country's economy. Global saving money will likewise be secured.

Program Information

Learnwithflip Provides courses in accounting and finance concentrate on how the share trading system, securities, the currency showcase and different instruments make up the monetary arrangement of the present economy. Understudies find out about the instruments and ideas accessible to dissect the economy and how to settle on sure money related choices in view of their investigation.

Online students can discover coursework as a major aspect of projects, for example, a Master of Business Administration (MBA), an endorsement in bookkeeping, or a four year college education in business, to give some examples choices. Independent courses are likewise accessible through college expansion divisions. Coursework is intended for individuals who wish to end up plainly open bookkeepers, business directors, accounting agents, impose preparers and monetary evaluators. A few professions, for example, that of guaranteed open bookkeepers, have strict degree and confirmation necessities.