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Capital Budgeting

  • Accountant
  • CPA (CA)
  • CGFM
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • CFA
  • ChFC
  • ACCA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • FPAC
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CWS

Published: December, 2021

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description


  • Capital Expenditures
    4 mins
  • Impact of Taxes on Cash Flows
    16 mins
  • Ongoing Scenario: Initial Investments
    31 mins
  • Operating Cash Flows Module Wrap Up
    45 mins
  • Using Discounted Payback For Acceptance
    72 mins
  • Comparing NPV and IRR
    88 mins
  • Probability - Weighting Cash Flows
    111 mins
  • Risk Mitigation Using Real Options - Module Objectives
    120 mins

Course Description

Several factors make investment decisions using capital budgeting one of the most important functions.  Capital budgeting and improvement plans are all about projects requiring collaboration across multiple departments touching disparate systems such as budgeting, performance, reporting, and communications. Financial managers in long term decision making based on capital budgeting are also involved with: 

  • Capital used to fund investment projects is limited, and must be carefully allocated across the entire business. 
  • Investments require the use of large amount of cash, limiting future financial flexibility. 
  • If a firm invests too much into a capital project, it could have high depreciation on an asset with limited value. 
  • If a firm invests too little into a capital project, it may have limited capacity, putting it at a disadvantage versus competitors. 
  • Timing is important, ideally investment projects are completed as close to when they are needed. 

This webinar provides an overview of the concepts of capital budgeting for investment decision making from the perspective of a finance and accounting organization, emphasizing the integration of cash flows, net present value analysis, risk assessment and risk management. The webinar starts with an overview of the capital budgeting process and then reviews the analysis of cash flows during the development, operating and end of project phases. 

Topics include: 

  • Capital Budgeting Process
  • Cash Flow Analysis
  • Payback and Discounted Payback
  • Net Present Value (NPV) and Internal Rate of Return (IRR)
  • Risk Analysis in Capital Budgeting
  • Evaluating and Ranking Capital Projects
  • Risk Mitigation Using Real Options

Learning Objectives

  • To identify capital budgeting and the steps undertaken in developing and implementing capital budgets.
  • To recognize relevant and irrelevant costs related to capital budgeting.
  • To identify and calculate the pre-tax and post-tax cash flows related to - the initial investment of a capital project - during the period the project is in operation from revenue, operating expense, and changes to working capital - the end of a capital projects life.
  • To explore the methods payback method, discounted payback method, NPV, IRR for acceptability of a project, advantage, and limitations.
  • To identify capital rationing, mutually exclusive, and independent projects.
  • To recognize why cash flows and discount rates should be adjusted if project cash flows are more or less risky than normal.
  • To identify alternative approaches to dealing with risk in capital investments.
  • To recognize capital budgeting risk analysis techniques
  • To identify the rationale for using real options to mitigate project risk, different types of real options available to management, and the problems comparing projects of unequal sizes and/or unequal lives.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeepers & Accountants & Tax Preparers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 3 CPD Credit of Finance for Chartered Professional Accountant (CPA Canada)
  • 3 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 3 CPE Credit of Corporate Finance for Certified Management Accountants (CMA)
  • 3 CPD Credit of Finance for Accredited in Business Valuation (ABV)
  • 3 CPE Credit of Finance for Certified Valuation Analyst (CVA)
  • 3 PL Credit for Certificate In Investment Performance Measurement (CIPM)
  • 3 CPE Credit of Finance for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 3 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 3 CE Credit for Certified Wealth Strategist (CWS)
  • 3 General Credit for Accountant/Bookeeper
  • 3 CPD Credit for CA - ICAEW
  • 3 CPD Credit for Chartered Certified Accountants (ACCA)
  • 3 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 3 CPD Credit for Chartered Accountants - Scotland
  • 3 CPD Credit for CPA - Ireland
  • 3 PL Credit for Chartered Financial Analyst (CFA)
  • 3 CRE Credit of General finance principles and financial concepts for Certified Corporate FP&A Professional (FPAC)
  • 3 CPE Credit for Chartered Financial Consultant (ChFC)
  • 3 CPE Credit for Chartered Advisor in Senior Living (CASL)
  • 3 CPE Credit for Chartered Special Needs Consultant (ChSNC)
  • 3 CPE Credit for Retirement Income Certified Professional (RICP)
  • 3 CPE Credit for Wealth Management Certified Professional (WMCP)
  • 3 CPE Credit for Financial Services Certified Professional (FSCP)
  • 3 CPE Credit for Certified Government Financial Manager (CGFM)

Additional details

  • Course Level :
  • Credits :
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
  • Advance Preparation :


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About Presenter

Thomas Coghlan

Founder & CEO, CPE University, LLC

He has worked at the intersection of entrepreneurship, business leadership, technology, and education for over 25 years, resulting in a wide range of skills and experiences...


  • Founder and CEO of two successful businesses: Appitur® Co. (EdTech) and CPE University (training for accountants).
  • Advisor and investor for startups in food services, online retail, and technology.

Business Leadership:

  • Progressively responsible roles for multi-national firms in the manufacturing and software industries (Controller -> CFO and IT Director -> VP of Client Services).


  • Business Fellow for the Analytics Center of Excellence at Villanova University School of Business.
  • Sold and delivered over $4 million of successful consulting projects.


  • Developed and delivered over 1,300 hours of live Continuing Professional Education (CPE) for financial professionals.
  • Created and taught undergrad and MBA courses in accounting and analytics for a top US university.

About Company

CPE University, LLC

Building a career is challenging, with many factors seeming to be out of your control. Making an investment in yourself through professional certifications and continuing education separates you from everyone else. CPE University's programs are designed to help you develop new skills, differentiate yourself, and “Achieve Your Strategic Advantage”.

For over 15 years we have leveraged deep subject matter expertise and cutting-edge online course delivery to provide in-depth programs for a reasonable investment. Let CPE University help you “Achieve Your Strategic Advantage”.


FAQs content

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