HSM 260 Financial Management for Human Service Managers full course

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.

n/a

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.

Min 4 days

Discussion Questions

Respond to weekly discussion questions.

Day 2 & Day 4

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

Week Two: Basics of Accounting

2   

2.1  Identify the importance of using the accrual method.

2.2  Apply balance statement principles to personal finances.

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.

Individual

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

Week Three: Financial Analysis

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.

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

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

Week Four: Cost and Ratio Analysis

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.

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.

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

Week Five: Budgets and

Forecasting

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.

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

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

Week Six: Budgets and Pricing

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.

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.

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

Week Seven: Funding of Nonprofits

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.

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

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.

Week Eight: Fund Development

8   

8.1  Describe the operations of a major foundation.

8.2  Identify nontraditional sources of funding.

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

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

Week Nine:

Analyzing Financial Statements

9   

9.1  Analyze an agency’s financial condition given specified financial statements.

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.

Tuesday

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