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312.603.89
Fundamentals of Budgeting and Financial Management

Location:
Internet
Term:
Summer Inst. term
Department:
Health Policy and Management
Credits:
3 credits
Academic Year:
2021 - 2022
Instruction Method:
Asynchronous Online with Some Synchronous Online
Dates:
Tue 06/01/2021 - Fri 06/25/2021
Auditors Allowed:
No
Grading Restriction:
Letter Grade or Pass/Fail
Course Instructor:
Contact:
Pamela Davis
Frequency Schedule:
One Year Only
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:

This course is evaluated as follows:

  • 40% Midterm
  • 60% Final Exam

Enrollment Restriction:

Restricted to graduate students

Instructor Consent:

No consent required

Special Comments:

This course will be offered online with a few live zoom sessions. The final exam will be due within one month of the conclusion of the course, on a date identified by the instructor but no later than August 6, 2021.