551.603.81
Fundamentals of Budgeting and Financial Management
Location
Internet
Term
3rd Term
Department
Extradepartmental
Credit(s)
3
Academic Year
2012 - 2013
Instruction Method
TBD
Available to Undergraduate
No
Grading Restriction
Letter Grade or Pass/Fail
Course Instructor(s)
Frequency Schedule
Every Year
Resources
Prerequisite
Introduction to Online Learning.
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:
- 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
Enrollment Restriction
Restricted to graduate students