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Fundamentals of Budgeting and Financial Management
Location
Internet
Term
Summer Institute
Department
Health Policy and Management
Credit(s)
3
Academic Year
2023 - 2024
Instruction Method
Asynchronous Online with Some Synchronous Online
Start Date
Thursday, June 1, 2023
End Date
Friday, June 30, 2023
Auditors Allowed
No
Available to Undergraduate
No
Grading Restriction
Letter Grade or Pass/Fail
Course Instructor(s)
Contact Name
Frequency Schedule
One Year Only
Resources
Prerequisite
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:
- Explain budgeting as a key component of the administrative process
- Develop budgets for service volume, revenues, salaries and supplies, and equipment
- Evaluate the financial status of a department or operating unit and determine what, if any, corrective actions should be taken
- Prepare marginal P&Ls, benefit-cost ratio analysis, and breakeven analysis and ad hoc financial analyses
- Use benchmarking to improve operational performance
Methods of Assessment
This course is evaluated as follows:
- 10% Homework
- 5% Discussion Board
- 85% Final Exam
Enrollment Restriction
Restricted to graduate students
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 4, 2023.