Finance Management, Accounting and Budgeting

The course explains the role of budgeting as a key component of the administrative process; describes the basic financial management concepts and techniques, and provides a foundation for integrating these techniques into health care organizations; explains methods of developing a budget and evaluate the financial status of a department or health unit and determine 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. By the end of the course, students will be able to: Explain components of financial proposals for health care projects/studies; describe the balance sheet and income statement in health care settings; develop budgets for revenues, staffing and salaries, supplies and services, and equipment; evaluate the financial status of a health service unit or department; determine the cause(s) of performance deviation; and use a variety of analytical methods to support sound business decision-making.