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Course Catalog

312.603.11 Fundamentals of Budgeting and Financial Management

Department:
Health Policy and Management
Term:
Summer Inst. term
Credits:
3 credits
Academic Year:
2019 - 2020
Location:
East Baltimore
Dates:
Wed 06/12/2019 - Fri 06/14/2019
Class Times:
  • W Th F,  8:30am - 4:50pm
Auditors Allowed:
No
Grading Restriction:
Letter Grade or Pass/Fail
Contact:
Pamela Davis
Course Instructor:
Resources:
Description:

Provides students with an understanding of budgeting as an important management tool. Focuses on budget development, evaluation of the financial status of a department or operating unit and the ability to determine what, if any, corrective actions need to be taken. Includes strategies for measuring and reporting skills. Considers the analytical tools used to support evaluation and decision-making including; volume adjusted variance analysis, benefit-cost ratio analysis, breakeven analysis, process flow analysis, benchmarking, and methods for building cost standards.

Learning Objectives:

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

  1. Explain budgeting as a key component of the administrative process
  2. Develop budgets for service volume, revenues, salaries and supplies, and equipment
  3. Evaluate the financial status of a department or operating unit and determine what, if any, corrective actions should be taken
  4. Prepare marginal P&Ls, benefit-cost ratio analysis, and breakeven analysis and ad hoc financial analyses
  5. Use benchmarking to improve operational performance
Methods of Assessment:

Student evaluation based on a final exam.

Enrollment Restriction:

Restricted to graduate students

Instructor Consent:

No consent required

Jointly Offered With:
Special Comments:

This course will be offered for 3 days in the HPM Summer Institute. Students are required to complete readings prior to the start of the course. The final assignments will be due no later than August 2, 2019.