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Course Catalog

551.603.81 FUNDAMENTALS OF BUDGETING AND FINANCIAL MANAGEMENT

Department:
Extradepartmental
Term:
1st term
Credits:
3 credits
Academic Year:
2012 - 2013
Location:
Internet
Auditors Allowed:
No
Grading Restriction:
Letter Grade or Pass/Fail
Contact:
Jamila Savage
Course Instructor:

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Prerequisite:

Introduction to Online Learning.

Description:

Explains the role of budgeting as a key component of the administrative process. Students learn to develop a budget and evaluate the financial status of a department or operating unit and determine what, if any, corrective actions need to be taken. Presents various analytical methods in management decision making, including benefit/cost ratio analysis, variance analysis, and break-even analysis. Also includes approaches to benchmarking, productivity improvement techniques, and methods for building cost standards.

Learning Objectives:

Upon successfully completing this course, students will be able to:

  1. Demonstrate an Discussing of budgeting's role as a key component of the administrative process
  2. Develop budgets for revenues, staffing and salaries, supplies and services, and equipment
  3. Evaluate the financial status of a department or operating unit using volume adjusted variance analysis to determine the cause(s) of performance deviation
  4. Use a variety of analytical methods to support sound business decision-making: marginal analysis, benefit:cost ratio analysis, and breakeven analysis
  5. Demonstrate an Discussing of revenue, cost, and productivity improvement techniques
  6. Build cost standards, perform bilateral performance mapping, and analyze process flow
  7. Demonstrate an Discussing of how to perform useful benchmarking analysis
  8. Develop effective action/implementation plans
Methods of Assessment:

Method of student evaluation based on midterm exam, final exam, and participation.

Enrollment Restriction:

Restricted to graduate students

Instructor Consent:

No consent required

Jointly Offered With: