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Course Catalog

312.603.81 Fundamentals of Budgeting and Financial Management

Department:
Health Policy and Management
Term:
1st term
Credits:
3 credits
Academic Year:
2019 - 2020
Location:
Internet
Auditors Allowed:
Yes, with instructor consent
Grading Restriction:
Letter Grade or Pass/Fail
Contact:
William Ward
Course Instructor:
Resources:
Prerequisite:

Introduction to Online Learning.

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 is based on two exams - a midterm exam that counts for 40% of the course grade and a final exam worth 60% of the course grade.

Enrollment Restriction:

Restricted to graduate students

Instructor Consent:

No consent required

Jointly Offered With: