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Nov 23, 2024
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MB 5300 - Advanced Finance and Accounting-School Business Manager2 lecture hours 4 lab hours 4 credits Course Description In this course, students study key financial concepts, identify the financial decisions confronting organizations and learn to analyze an organization’s status using financial tools and techniques. Accounting methods used in the public and private sector, as well as key financial statements are applied to authentic situations. Program and organizational budgets and the budget process are included, as well as the evaluation of spending proposals. Students also learn the role of financial planning in an organization’s strategic planning process. Advanced Finance and Accounting is designed for administrators and other school personnel who desire to learn the principles and concepts of school accounting; auditing and financial reporting; major sources of revenue; and cost management and investment techniques. Additionally, school personnel will engage in budgeting and financial reporting techniques and skills learning the conceptual and practical aspects of budgeting and financial planning; inventory control; purchasing; capital project planning and debt service management. (prereq: none) Course Learning Outcomes Upon successful completion of this course, the student will be able to:
- Study key financial concepts, identify the financial decisions confronting organizations, and learn to analyze an organization’s status using financial tools and techniques
- Apply accounting methods used in the public and private sector, as well as produce key financial statements
- Learn the principles and concepts of school accounting, auditing, financial reporting, capital project planning and debt service management
- List revenue sources and expenditure categories, assess allocations in relationship to overall operating budget, and determine the need for preservation of fund balance
- Explain recent legislation, as well as financial ramifications to stakeholders
- Summarize the scope of “Business Office” operations
- Outline the process, conduct analysis, evaluate financial ramifications, and determine funding for major school district initiatives, especially construction
- Identify areas associated with ethics violations and identify operations or procedures that become “red flags” in the auditing process
Prerequisites by Topic Coordinator Andrew Chromy
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