Master in Management
Budget and Finance
Karen Clarke, CTP, MA
This course familiarizes managers with the core tasks needed for effective financial planning and explains the budgeting process in diverse organizations. Students develop an appreciation for both the theory and application of financial practices to aid in their fiscal decision making. It will be helpful if students have an understanding of basic accounting concepts prior to enrolling in this course. Note: A brief overview of financial statements and accounting principles will be included as we work through the course material.
MM 512 Budget and Finance is designed to help us:
- Explain the roles of the major components of the financial system.
- Read, analyze, and interpret different financial statements.
- Become familiar with the basic role of budgeting and the budgeting process.
- Recognize various types of budgets and appreciate their use for different purposes.
- Offer analysis and use of information gained in comparing budget to actual values.
- Compare and contrast different business forms based on their relation to capitalization, liability and tax issues.
- Present information on the various sources for financing, with a focus on determining the appropriate sources for any entity.
Texts and Materials
- Title: Finance (Foundations of financial institutions and management)
- Authors: Ronald W. Melicher and Edgar A. Norton with Laura Town
- Wiley Pathways Text – ISBN 0-470-00720-6
Relation to Master in Management Program Goals
This course extends and sharpens the financial and budgeting skills necessary to advance professionally. The course will balance explanations of real world principles with their real world applications. The coursework will focus on budgeting techniques drawn from a field of dynamic finance principles and examine alternatives to ascertain the budget planning best suited for pre-determined financial goals. Learning experiences will reinforce the theoretical framework underlying the organization of financial principles around the major concepts of cash flow estimation, financing and investing.
This class will be taught as a combination of online instruction and classroom meetings. Students must have a reliable computer and reliable internet connection. You will be given reading assignments; homework assignments, case studies and exams. Class information including readings, notes, and presentation materials will be provided by the instructor via Blackboard course management software. Students will provide input through the Discussion Board and assignments sections of Blackboard as well as completing assignments in class.