HSM/260 Financial Management for Human Service Managers

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.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.

 

n/a

 

n/a

Course Preparation

Read the course description and objectives.

Read the instructor’s biography and post your own.

n/a

n/a

Readings

Read Appendix A.

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

n/a

n/a

Participation

Participate in class discussion.

Min 4 days

10

Discussion Questions

Respond to weekly discussion questions. Post to the main form under the appropriate threads for DQ #1 (Day 2) and DQ #2 (Day 4).

Day 2 & 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 to the Assignment Link

Day 5

 

Friday

30

 

 

Week Two: Basics of Accounting

 

Details

Due

Points

Objectives

2   

2.1  Identify the importance of using the accrual method.

2.2  Apply balance statement principles to personal finances.

 

n/a

 

n/a

CheckPoint

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.

Day 5

 

Friday

30

 

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

 

Details

Due

Points

Objectives

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.

 

n/a

 

n/a

Readings

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

n/a

n/a

Participation

Participate in class discussion.

Min 4 days

10

Discussion Questions

Respond to weekly discussion questions. Post to the main form under the appropriate threads for DQ #1 (Day 2) and DQ #2 (Day 4).

Day 2 & 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

Day 5

 

Friday

30

 

 

Week Four: Cost and Ratio Analysis

 

Details

Due

Points

Objectives

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.

 

n/a

 

n/a

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

·         Revenue and expense ratio

 

Post your final calculations as a Microsoft® Word attachment.

Day 5

 

Friday

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

Day 7

 

Sunday

100

 

 

Week Five: Budgets and Forecasting

 

Details

Due

Points

Objectives

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.

 

n/a

 

n/a

Readings

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

n/a

n/a

Participation

Participate in class discussion.

Min 4 days

10

Discussion Questions

Respond to weekly discussion questions. Post to the main form under the appropriate threads for DQ #1 (Day 2) and DQ #2 (Day 4).

Day 2 & Day 4

10

CheckPoint

Forecasting

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

Day 5

 

Friday

30

 

 

Week Six: Budgets and Pricing

 

Details

Due

Points

Objectives

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.

 

n/a

 

n/a

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.

Day 5

 

Friday

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

Day 7

 

Sunday

100

 

 

Week Seven: Funding of Nonprofits

 

Details

Due

Points

Objectives

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.

 

n/a

 

n/a

Readings

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

n/a

n/a

Participation

Participate in class discussion.

Min 4 days

10

Discussion Questions

Respond to weekly discussion questions.

Day 2 & Day 4

10

CheckPoint

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.

Day 5

 

Friday

30

 

 

Week Eight: Fund Development

 

Details

Due

Points

Objectives

8   

8.1  Describe the operations of a major foundation.

8.2  Identify nontraditional sources of funding.

n/a

n/a

CheckPoint

Collaborative Fund-Raising Activity</

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