FUNDAMENTALS OF BUDGETING AND FINANCIAL MANAGEMENT Syllabus
Course 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
Course DescriptionExplains 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.
Additional Faculty Notes:
This course provides an introduction to various aspects of financial management. It explains the role of budgeting as a key component of the administrative process and presents various analytical methods for use in management decision-making. These include variance analysis, expense forecasting, marginal analysis, benefit/cost ratio analysis and break-even analysis. In addition, approaches to benchmarking, process analysis and productivity improvement will be discussed. 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.
Intended Audienceinterested graduate students
Methods of AssessmentStudent evaluation based on quizzes (30%) and a final exam (70%).
Please see the course Session for a full list of dates and items for this course.
Academic Ethics Code
Students enrolled in the Bloomberg School of Public Health of The Johns Hopkins University assume an obligation to conduct themselves in a manner appropriate to the University's mission as an institution of higher education. A student is obligated to refrain from acts which he or she knows, or under the circumstances has reason to know, impair the academic integrity of the University. Violations of academic integrity include, but are not limited to: cheating; plagiarism; knowingly furnishing false information to any agent of the University for inclusion in the academic record; violation of the rights and welfare of animal or human subjects in research; and misconduct as a member of either School or University committees or recognized groups or organizations.
Course Objectives(from old syllabus)
Following this course the student will:
1. Understand the role of budgeting as a key component of the administrative process.
2. Know how to develop a budget.
3. Be able to evaluate the financial status of a department or operating unit and determine what, if any, corrective actions should be taken.
4. Be skilled in a variety of analytical methods to support sound management decision-making -- benefit:cost ratio analysis, variance analysis and breakeven analysis.
5. Understand benchmarking and productivity improvement techniques.
Disability Support ServicesIf you are a student with a documented disability who requires an academic accommodation, please contact Betty H. Addison in the Office of Student Life Services: firstname.lastname@example.org, 410-955-3034, or 2017 E. Monument Street.