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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.
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.
Where to Go to Class
Main: This is the main forum for the class and is where discussion is conducted. It has read-and-write access for everyone.
Chat-Room: This is a read-and-write access forum. It is designed as a place to discuss issues not related to the course content. This is the forum to which we will send our bios. Course-Materials: This is a read-only forum, which means you can read messages here but cannot send any. This is where I will post the course syllabus and materials.
Individual
Forum: You will see one forum with your name on it. This is a private forum, shared only by you and me, the facilitator. Your classmates will not have access to this forum. You can ask questions here. However, if you have general questions about instructions of assignments, please post those in the Main forum, since other students may benefit by that exchange as well.
Where to Submit Your Assignments
Assignment Section: This is where you will submit all formal assignments. Navigate to the
Assignmentslink on eCampus. Locate the link to submit your assignment as an attachment.
Certificate of Originality
The University places a high priority on maintaining academic integrity and ensuring that proper credit is being given for others’ words and ideas used in the development of your written assignments. As noted in the Student Code of Academic Integrity:
University of Phoenix is an academic community whose fundamental mission is the pursuit of intellectual growth. Achievement of this mission is dependent upon the development of autonomous thought and respect for the ideas of others. Academic dishonesty threatens the integrity of individual students as well as the University’s academic community.
In order to follow this mission of academic honesty and responsibility, the University has implemented the Certificate of Originality document to increase awareness of academic integrity. This document can be found in the Course Materials forum. It should be completed by typing your name in the appropriate field. You will be required to attach this document for all assignments. When you post an assignment to the Assignments link, also post an electronically signed copy of the Certificate of Originality at the same time.
Technical Support
Technical Support is available 24 hours a day, 365 days a year. Call 1-877-832-4867, or use the e-mail support form. Answers to the most common issues are found in the Knowledge Base by clicking Help, found at the top of every student Web site.
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
All electronic materials are available on the student website.
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Week One: Foundations of Financial Management |
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Details |
Due |
Points |
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Objectives |
1.1 Recognize the importance of financial management in human services. 1.2 Define basic accounting terms. |
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Course Preparation |
Read the course description and objectives. Read the instructor’s biography and post your own. |
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Readings |
Read Appendix A. Read Ch. 1, 2, 3, & 4 of Financial Management. |
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Participation |
Participate in class discussion. |
Min 4 days |
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Discussion Questions |
Respond to weekly discussion questions. |
Day 2 & Day 4 |
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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 to the Assignment Link |
Day 5
Friday |
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Week Two: Basics of Accounting |
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2 2.1 Identify the importance of using the accrual method. 2.2 Apply balance statement principles to personal finances. |
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Accrual Method |
Answer the following questions in 200 to 300 words:
· Nonprofit organizations are required to produce financial statements based on the accrual method of accounting. How is this different from the cash basis of accounting? Why is accrual accounting important?
· In an accrual system, does revenue equal cash?
· What is the importance of the statement of cash flow in the financial management of an organization?
Provide at least one resource to support your answer, using APA guidelines. Post your answer as a Microsoft® Word attachment to the Assignment Link. |
30 | ||||||||
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Personal Balance Statement |
Read the background information provided in Appendix B.
Complete the personal balance statement template provided in Appendix C based on your understanding of the information in Appendix B.
Put your name on your sheet
Post your Appendix C as a Microsoft® Excel attachment |
Day 7
Sunday |
100 |
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Week Three: Financial Analysis |
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3 3.1 Recognize the importance of cost per output and cost per outcome for a human service program. 3.2 Analyze the effect of fixed and variable costs. |
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Read Ch. 5, 8, & 10 of Financial Management. |
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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 |
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Week Four: Cost and Ratio Analysis |
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4 4.1 Calculate financial ratios commonly used in human service agencies. 4.2 Calculate fixed costs, variable costs, and the break-even point for a program. |
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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 · Revenue and expense ratio
Post your final calculations as a Microsoft® Word attachment. |
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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 |
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Week Five: Budgets and Forecasting |
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5 5.1 Describe the merits of various forecasting methods. 5.2 Explain the effect of financial trends on forecasting. 5.3 Determine how budgeting systems relate to the systems model. |
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Read pp. 76–91, 118–131, & 149–160 of Financial Management. |
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| CheckPointForecasting |
Resource: Ch. 9 in the text Read & Complete Exercises 9.1 on p. 130 & 9.3 on p. 131. Forecast personnel expenses and total revenues respectively, using weighted moving averages, moving averages, and exponential smoothing. Explain how financial trends affect forecasting. Post your final answers as a Microsoft® Word attachment |
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Week Six: Budgets and Pricing |
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6 6.1 Analyze the factors necessary for determining a fee. 6.2 Determine the costs to evaluate and determine the break-even point for a suggested program. |
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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. |
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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 |
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Week Seven: Funding of Nonprofits |
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7 7.1 Determine appropriate federal assistance programs that meet the needs of a specific human service agency. 7.2 Recognize various approaches to funding available to the human service industry. |
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Read pp. 161–173 & 174–186 of Financial Management. |
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Catalog of Federal Domestic Assistance |
Locate the Catalog of Federal Domestic Assistance at http://www.cfda.gov/ or you may use http://www.grants.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. |
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Week Eight: Fund Development |
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8 8.1 Describe the operations of a major foundation. 8.2 Identify nontraditional sources of funding. |
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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. (Each student must submit his/her own checkpoint).
Post your final answer as a Microsoft® Word attachment |
Days 1-3 Day 5 Friday |
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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 |
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Week Nine: Analyzing Financial Statements |
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9 9.1 Analyze an agency’s financial condition given specified financial statements. |
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Capstone Discussion Question |
Respond to the capstone discussion question.
· Why is it important for a human service professional to be familiar with financial management? Provide at least two examples that illustrate your point. |
Day 2
Tuesday |
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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, 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, 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, and submit them as attachments to the same post. |
250 |
