312.603.81
Fundamentals of Budgeting and Financial Management
Location
Internet
Term
4th Term
Department
Health Policy and Management
Credit(s)
3
Academic Year
2023 - 2024
Instruction Method
Asynchronous Online
Auditors Allowed
Yes, with instructor consent
Available to Undergraduate
No
Grading Restriction
Letter Grade or Pass/Fail
Course Instructor(s)
Contact Name
William Ward
Contact Email
Frequency Schedule
Every Year
Resources
Prerequisite
Introduction to Online Learning.
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:
- 40% Midterm
- 40% Final Exam
- 20% Participation
Enrollment Restriction
Restricted to graduate students
Jointly Offered With