FIN701 : Financial Management in Education

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Course Info

Course Category

Accounting, Banking & Finance

Course Level

Graduate

Credit Hours

3

Pre-requisites

N/A

Instructor

Muhammad Toseef Aslam
MS (Business Administration)
Superior University, Lahore

Course Contents

Topic

Topic #

Module #

Introduction

1

1

Course Outline

2

Financial Management

3

FM in Business and Commerce

4

Accounting vs. FM

5

Financial Management Process

6

Financial Management Functions

7

Financial Management Decisions

8

9

10

Role of a Financial Manager

11

12

Purpose of FM in Education

13

2

Meaning of FM in Education

14

Financial Goals of FM in Education

15

Characteristics of Financial

Management in Education

16

3

17

18

19

20

21

22

Adequacy of FM Systems in Education

23

4

Ways to Improve FM Systems in Education

24

Weaknesses in FM Systems

25

Budget vs. Budgeting

26

5

Budgeting in Education

27

Budgeting – An Instrument for Planning

28

Budgetary Practices around the Globe

29

Different Approaches to Budgeting

30

Education Budgets (A Study of Selected

Districts of Pakistan)

31

32

33

Non Salary Budgeting (NSB)

34

6

Purpose of NSB

35

Importance of NSB

36

Estimation of NSB

37

NSB Formula

38

Role of Government Institutions

39

School Site Budgeting (SSB)

40

7

Advantages of SSB

41

Disadvantages of SSB

42

School Based Budgeting in Pakistan

43

Traditional Budgeting vs. ZBB

44

8

Traditional Budgeting vs. ZBB (Example)

45

Zero Based Budgeting (ZBB)

46

Historical Development of ZBB

47

Basic Tenets of ZBB

48

Process Flow of ZBB

49

Formulation Steps in ZBB

50

Advantages of ZBB

51

Disadvantages of ZBB

52

Myths and Realities about ZBB

53

Myth # 1 & its Reality (ZBB)

54

Myth # 2 & its Reality (ZBB)

55

Myth # 3 & its Reality (ZBB)

56

Myth # 4 & its Reality (ZBB)

57

Myth # 5 & its Reality (ZBB)

58

PPBES

59

9

Essentials of PPBES

60

Characteristics of PPBES

61

Requirements for Implementing PPBES

62

Categories of Data

63

PPBES (Figure)

64

Steps for Implementing PPBES

65

MID TERM EXAMINATION

Cash Management

66

10

Cash Management in Education System

67

Cash Management Program

68

Primary Goals of CM Program

69

Other Goals of CM Program

70

Cash Budgeting

71

11

Objectives of Cash Budgeting

72

Cash Budgeting in Education

73

Cash Flow Chart

74

Cash Flow Pattern

75

Control of Costs

76

12

Total vs. Unit Costs

77

Average vs. Marginal Costs

78

Recurrent vs. Capital Costs

79

Money vs. Resource Costs

80

Nominal vs. Real Costs

81

Control of Costs in Education

82

Statistical Indicators for Cost Control

83

Cost Effectiveness in Education

84

School Accounting

85

13

Objectives of School Accounting

86

Double-entry Book-keeping

87

Characteristics of D.Entry Book-keeping

88

Advantages of Double-entry Book-keeping

89

Disadvantages of D.Entry Book-keeping

90

Accounting Equation

91

Principles of Double-entry Book-keeping

92

Principles of D.Entry B.Keeping (Example)

93

Journal and Ledger

94

Trial Balance

95

Journal, Leger and Trial Balance (Example)

96

Income & Expenditures Accounts

97

Cash Basis vs. Accrual Basis

98

Fund Accounting

99

Management Information Systems (MIS)

100

14

Advantages of MIS

101

Basic Features of MIS

102

MIS Processing Steps

103

Financial Management Information System

104

What is FMIS?

105

An Ideal FMIS

106

Advantages of an FMIS

107

Auditing

108

15

Internal Audit

109

External Audit

110

Administrator’s Responsibility in Audit

111

Types of Audits – Financial Audit

112

Types of Audits – Operational Audit

113

Types of Audits – Information System Audit

114

Types of Audits – Compliance Audit

115

Types of Audits – Integrated Audit

116

Types of Audits – Educational Audit

117

Timing of Audit

118

Summarizing the Types of Audits

119

Advantages of Auditing

120

Disadvantages & Limitations of Auditing

121

Financial Allocation

122

16

How Authorities Allocate Funds?

123

Financial Inequalities

124

Principle Approaches to Equalization

125

Urban vs. Rural Schools

126

Education For All (EFA)

127

Education For All (EFA) Goals

128

EFA Monitoring Report

129

Pakistan EFA Review Report (Objectives)

130

Pakistan EFA Review Report (Methodology)

131

Time Value of Money

132

17

Discounting vs. Compounding

133

Present Value

134

Future Value

135

Simple Interest vs. Compound Interest

136

Course Recap

137

 

FINAL TERM EXAMINATION