551.603.81 FUNDAMENTALS OF BUDGETING AND FINANCIAL MANAGEMENT
- William Ward
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.
Upon successfully completing this course, students will be able to:
Demonstrate an Discussing of budgeting's role as a key component of the administrative process
Develop budgets for revenues, staffing and salaries, supplies and services, and equipment
Evaluate the financial status of a department or operating unit using volume adjusted variance analysis to determine the cause(s) of performance deviation
Use a variety of analytical methods to support sound business decision-making: marginal analysis, benefit:cost ratio analysis, and breakeven analysis
Demonstrate an Discussing of revenue, cost, and productivity improvement techniques
Build cost standards, perform bilateral performance mapping, and analyze process flow
Demonstrate an Discussing of how to perform useful benchmarking analysis
Develop effective action/implementation plans
Introduction to Online Learning is required prior to participating in any of the School's Internet-based courses..
- Health Policy and Management
- International Health