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Financial management

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Course Description

This course focuses on conceptual understanding and practice of financial management as it applies to human service agencies. Students complete the course with a better understanding of basic accounting concepts, budgets and budgeting systems, how to create performance measures, and the ability to analyze financial statements for the purpose of cost analysis and forecasting. Aspects of setting fees, funding, and risk management are also covered.

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Policies

Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents:

University policies: You must be logged into the student website to view this document.

Instructor policies: This document is posted in the Course Materials forum.

University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality.

Course Materials

Martin, L. (2001). Financial management for human service administrators.
Needham Heights, MA: Allyn & Bacon.

Axia College’s Writing Style Handbook, available online at https://axiaecampus.phoenix.edu/Writing_Style_Handbook_AxiaUOP.pdf

All electronic materials are available on the student website.

Week One: Foundations of Financial Management

Details
Due
Points
Objectives
1.1 Recognize the importance of financial management in human services. 1.2 Define basic accounting terms.

Course Preparation
Read the course description and objectives.
Read the instructor’s biography and post your own.

Readings
Read Appendix A.
Read Ch. 1, 2, 3, & 4 of Financial Management.

Participation
Participate in class discussion. (A minimum of 2 substantial replies to peers posted on 3 separate days during the current week. Each reply is expected to be a minimum of 50 total words and must go beyond just agreeing and complimenting your peer’s work. Substantial replies are ones that help to keep our discussions moving forward)

The DQs count towards participation, please though, be sure to follow the expectations for each DQ so that you do not lose any unnecessary points. Expectations for DQs are posted below.

4 substantial replies to peers + 2 DQs = 100% participation
Post a minimum of two substantive comments in the Main forum at least 3 of 7 days. 10
Discussion Questions
Respond to weekly discussion questions. (Each discussion question is expected to be a minimum of 150 total words. Discussion questions ARE NOT just opinion based. You are expected to incorporate the unit materials into each discussion question. This means each discussion question must include an in-text citation and a reference in APA format.) DQ1 Due Day 2

DQ 2 Due Day 4
10
CheckPoint
Definition Scavenger Hunt
Define each of the following basic accounting terms in your own words by finding sources on the Internet. Provide the URL that supports the definition you have created for each item.

GAAP
Basic accounting formula
Transaction, t-account
General ledger
Debit
Credit
Account balance
Trial balance
Journal
Assets
Liabilities
Net assets
Accounts receivable
Accounts payable
Revenues

Post your definitions as a Microsoft® Word attachment
Due Day 4
30

Week Three: Financial Analysis

Details
Due
Points
Objectives
2
2.1 Recognize the importance of cost per output and cost per outcome for a human service program. 2.2 Analyze the effect of fixed and variable costs.

Readings
Read Ch. 5, 8, & 10 of Financial Management.

Participation
Participate in class discussion. (A minimum of 2 substantial replies to peers posted on 3 separate days during the current week. Each reply is expected to be a minimum of 50 total words and must go beyond just agreeing and complimenting your peer’s work. Substantial replies are ones that help to keep our discussions moving forward)

The DQs count towards participation, please though, be sure to follow the expectations for each DQ so that you do not lose any unnecessary points. Expectations for DQs are posted below.

4 substantial replies to peers + 2 DQs = 100% participation
Post a minimum of two substantive comments in the Main forum at least 3 of 7 days. 10
Discussion Questions
Respond to weekly discussion questions. (Each discussion question is expected to be a minimum of 150 total words. Discussion questions ARE NOT just opinion based. You are expected to incorporate the unit materials into each discussion question. This means each discussion question must include an
in-text citation and a reference in APA format.) DQ1 Due Day 2

DQ 2 Due Day 4
10
CheckPoint
Cost Per Output and Cost Per Outcome Response
Write a 200- to 300-word response to the following: Why are cost per output and cost per outcome calculations valuable to a human service agency? What might happen if a human service agency did not determine the cost per output and cost per outcome?

Post your answers as a Microsoft® Word attachment
Due Day 4
30

Week Four: Cost and Ratio Analysis

Details
Due
Points
Objectives
3
3.1 Calculate financial ratios commonly used in human service agencies. 3.2 Calculate fixed costs, variable costs, and the break-even point for a program.

CheckPoint
Financial Ratios
Use the data from 2002 in Appendix D to calculate each of the following:

Current ratio
Long-term solvency ratio
Contribution ratio
Programs and expense ratio
General and management and expense ratio
Fund-raising and expense ratio
Revenue and expense ratio

Post your final calculations as a Microsoft® Word attachment. Due Day 4
30
Individual
Fixed Costs, Variable Costs, and Break-Even Point
Resource: Ch. 10 in Financial Management
Complete Exercises 10.1 & 10.2 on pp. 146–47.
Post your final answers as a Microsoft® Word attachment
Due Day 7
100
Week Five: Budgets and Forecasting

Details
Due
Points
Objectives
4
4.1 Describe the merits of various forecasting methods.
4.2 Explain the effect of financial trends on forecasting.
4.3 Determine how budgeting systems relate to the systems model.

Readings
Read pp. 76–91, 118–131, & 149–160 of Financial Management.

Participation
Participate in class discussion. (A minimum of 2 substantial replies to peers posted on 3 separate days during the current week. Each reply is expected to be a minimum of 50 total words and must go beyond just agreeing and complimenting your peer’s work. Substantial replies are ones that help to keep our discussions moving forward)

The DQs count towards participation, please though, be sure to follow the expectations for each DQ so that you do not lose any unnecessary points.
Expectations for DQs are posted below.

4 substantial replies to peers + 2 DQs = 100% participation
Post a minimum of two substantive comments in the Main forum at least 3 of 7 days. 10
Discussion Questions
Respond to weekly discussion questions. (Each discussion question is expected to be a minimum of 150 total words. Discussion questions ARE NOT just opinion based. You are expected to incorporate the unit materials into each discussion question. This means each discussion question must include an in-text citation and a reference in APA format.) DQ1 Due Day 2

DQ 2 Due Day 4
10
CheckPoint
Forecasting
Resource: Ch. 9 in the text
Read Exercises 9.1 on p. 130 & 9.3 on p. 131.
Forecast personnel expenses and total revenues respectively, using weighted moving averages and moving averages. Explain how financial trends affect forecasting.
Post your final answers as a Microsoft® Word attachment
Due Day 4
30

Week Six: Budgets and Pricing

Details
Due
Points
Objectives
5
5.1 Analyze the factors necessary for determining a fee.
5.2 Determine the costs to evaluate and determine the break-even point for a suggested program.

CheckPoint
Calculating Fixed Costs, Variable Costs, and Break-Even Point for a Program Calculate the fixed cost, variable costs, and break-even point for the program suggested in Appendix D. Base your calculations on the financial data for 2002.

Post your final answers as a Microsoft® Word attachment.
Due Day 4
30
Individual
Fee Setting
Resource: Ch. 11 in Financial Management
Complete Exercises 11.1 & 11.2 on pp. 158–159.
Determine the most important issues for a human service agency to address in fee setting. Determine the issues that are least important.
Justify your answers.
Post your answers as a Microsoft® Word attachment
Due Day 7
100

Week Seven: Funding of Nonprofits

Details
Due
Points
Objectives
6
6.1 Determine appropriate federal assistance programs that meet the needs of a specific human service agency. 6.2 Recognize various approaches to funding available to the human service industry.

Readings
Read pp. 161–173 & 174–186 of Financial Management.

Participation
Participate in class discussion. (A minimum of 2 substantial replies to peers posted on 3 separate days during the current week. Each reply is expected to be a minimum of 50 total words and must go beyond just agreeing and complimenting your peer’s work. Substantial replies are ones that help to keep our discussions moving forward)

The DQs count towards participation, please though, be sure to follow the expectations for each DQ so that you do not lose any unnecessary points. Expectations for DQs are posted below.

4 substantial replies to peers + 2 DQs = 100% participation
Post a minimum of two substantive comments in the Main forum at least 3 of 7 days. 10
Discussion Questions
Respond to weekly discussion questions. (Each discussion question is expected to be a minimum of 150 total words. Discussion questions ARE NOT just opinion based. You are expected to incorporate the unit materials into each discussion question. This means each discussion question must include an in-text citation and a reference in APA format.) DQ1 Due Day 2

DQ 2 Due Day 4
10
CheckPoint
Catalog of Federal Domestic Assistance
Locate the Catalog of Federal Domestic Assistance at http://www.cfda.gov/

Click on Select Assistance Type… and choose a particular type by clicking on it. Then click on the Search button.

Choose three types of assistance from the list that benefit the organization profiled in Appendix A the most.

Reference the three programs chosen by including the URL and program title.

Summarize the one type of assistance you feel is most valuable to the organization profiled in Appendix A. Your summary must be 200 to 300 words in length and must address the following categories:

Program’s objective
Eligibility requirements
Type of assistance
Dollar range
Average amount of assistance awarded
How this program is utilized by the organization profiled in Appendix A

Post your answers as a Microsoft® Word attachment.
Due Day 4
50

Week Eight: Fund Development

Details
Due
Points
Objectives
7
7.1 Describe the operations of a major foundation.
7.2 Identify nontraditional sources of funding.

CheckPoint
Collaborative Fund-Raising Activity
Consider the following scenario in your assigned discussion group: Phoenix Homeless Agency (PHA) needs funds to continue providing job counseling to qualifying recipients.

Discuss with your assigned group how nontraditional sources of funding might be used to solve the funding problem for the PHA. Be creative.

Determine the strategies from your discussion group that you feel solves the
funding needs for PHA the best.

Write a 200- to 300-word summary detailing the three fund-raising strategies you employ.

Post your final answer as a Microsoft® Word attachment
Due Day 4
30
Individual
Foundations Paper
Select one of the following funding organizations:

United Way of America
The Robert Wood Johnson Foundation
The Bill & Melinda Gates Foundations
Health Resources and Services Administration
A community foundation in your area

Write a 700- to 1,050-word paper describing the organization and the projects it supports. Format consistent with APA guidelines.
Post your final draft as a Microsoft® Word attachment
Due Day 7
100

Week Nine: Analyzing Financial Statements

Details
Due
Points
Objectives
8
8.1 Analyze an agency’s financial condition given specified financial statements.

Participation
Participate in class discussion. (A minimum of 2 substantial replies to peers posted on 3 separate days during the current week. Each reply is expected to be a minimum of 50 total words and must go beyond just agreeing and complimenting your peer’s work. Substantial replies are ones that help to keep our discussions moving forward)

The Capstone counts towards participation. Please be sure to follow the specific expectations for the Capstone so that you do not lose any unnecessary points. Expectations for the Capstone are posted below.

5 substantial replies to peers + Capstone = 100% participation Post a minimum of two substantive comments in the Main forum at least 3 of 7 days. 10
Capstone Discussion Question
Respond to the capstone discussion question. (The capstone question is expected to be a minimum of 150 total words. You are expected to incorporate the unit materials into the Capstone discussion question. This means the Capstone discussion question must include an in-text citation and a reference in APA format.)

Why is it important for a human service professional to be familiar with financial management? Provide at least two examples that illustrate your point. Capstone Question Due Day 3
50
Final Project
Analyzing Financial Statements
Resource: Appendix A

Review the financial statements in Appendix D.

Calculate the following: Current ratio, long-term solvency ratio, contribution ratio, programs and expense ratio, general and management and expense ratio, fund-raising and expense ratio, and revenue and expense ratio for the years 2003 and 2004.

Include the current ratio, long-term solvency ratio, contribution ratio,
programs and expense ratio, general and management and expense ratio, fund-raising and expense ratio, and revenue and expense ratio calculated in the Week Four Assignment.

Provide a 200- to 300-word explanation of the importance of each ratio for all three years listed in Appendix D. Include a statement of whether the organization’s financial picture has improved or not within the 3-year period specified in Appendix D.

Calculate the fixed cost, variable costs, and break-even point for the XYZ Corporation for the years 2003 and 2004 listed in Appendix D.

Include the fixed cost, variable costs, and break-even point for the XYZ Corporation for the year 2002 from the Week Six CheckPoint.

Discuss the purpose, advantages, disadvantages, and type of feedback provided by a line item, performance, and program budget in a 350- to 700-word essay.

Provide a 350- to 700-word response to the following: Identify and describe two types of traditional approaches to fund development, and two types of nontraditional approaches to fund development that are appropriate for the XYZ Corporation, and provide a conclusion of the organization’s current and future financial picture.

Format all written portions consistent with APA guidelines.

Compile all elements, including portions previously completed into ONE APA formatted document. Due Day 7
No late projects can be accepted
200

Discussion Questions

Week One Discussion Questions

How does the statement of functional expenses differ from the statement of activities? What is the difference between a revenue center and an expense center as it relates to a human service organization? Why do you need to know this information as an employee in a human service organization?

What are the financial management issues that human service organizations face? Is it important for all of a human service organization’s staff, not just the financial experts, to understand financial management? Why?

Week Three Discussion Questions
You have been selected to participate in a new bonus plan. You receive a bonus based on the average cost of delivering a service. You know the fixed cost of that service is currently 75% of total costs. What action do you take to ensure that you receive a bonus?

Explain the difference between direct cost and indirect cost. What are some ways to allocate indirect costs? Why is monitoring direct and indirect costs important to the financial stability of a human service organization?

Week Five Discussion Questions

A budget systems model is the foundation from which budgeting systems can be used to evaluate the success of an agency or company. How are performance budgeting systems used to evaluate the efficiency and effectiveness of a human service agency? Why is this important?

There are four forecasting techniques described in the text. Briefly describe the merits of each one and identify the one you feel is most beneficial in forecasting for a human service organization

Week Seven Discussion Questions

Which of the two procurement strategies is most effective for a human service agency? Explain your reasoning.

Identify the key components of cost reimbursement contracts, performance contracts, and capitated contracts. Which, in your opinion, is best suited for a human service organization?

Copyright

University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries.

Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation.

Edited in accordance with University of Phoenix® editorial standards and practices.

Cite this Financial management

Financial management. (2016, Jul 22). Retrieved from https://graduateway.com/math-117/

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