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FINANCIAL ANALYSIS AND                                              KAREN KELLEY
MANAGEMENT                               ...
REQUIREMENTS

        I will distribute the following week’s problem set at the end of each class. Students
should complet...
MANAGEMENT CONTROL
Date Topic                              Readings                           Assignment
Feb. Accounting B...
FINANCIAL STATEMENT ANALYSIS
Date Topic                           Readings                                     Assignment
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FINANCIAL ANALYSIS AND KAREN KELLEY MANAGEMENT CEDAC (617 ...

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Transcript of "FINANCIAL ANALYSIS AND KAREN KELLEY MANAGEMENT CEDAC (617 ..."

  1. 1. FINANCIAL ANALYSIS AND KAREN KELLEY MANAGEMENT CEDAC (617) 727-5944 UEP kkelley@cedac.org SPRING, 2009 ANDERSON 212 TUESDAYS, 6:00 – 8:30 p.m. OFFICE HOURS: BY APPOINTMENT PURPOSE AND CONTENT This course is an introduction to financial accounting, analysis, and fiscal management in nonprofit organizations. The goal is to learn how financial information and decision-making can be used to help a nonprofit accomplish its mission. We will cover the following topics during the semester: management and financial controls; basic financial accounting; and how to read and analyze financial statements. FORMAT AND METHODS The classes will include lecture, readings and discussions with application of the material using problem sets, case studies, and a group project. We will take a practical approach to financial management: each of the problem sets and other assignments will reflect real issues faced by nonprofit managers. Students are also encouraged to bring relevant examples of financial issues/problems faced by non-profit organizations with which they are familiar. Students are expected to have a basic understanding of a spreadsheet program such as Microsoft Excel. We will cover some of the basics of Excel financial functions in class. All graded assignments and exams should be completed using Excel, Lotus, or another spreadsheet application whenever possible. READINGS AND MATERIALS I will distribute some of the readings at the beginning of the semester. Problem sets will be distributed during class sessions. For students wishing to review additional information, or to have some additional reference material, there are two recommended textbooks available at the campus bookstore: McLaughlin, Thomas (2002). Streetsmart Financial Basics for Nonprofit Managers. New York: John Wiley & Sons. Gross, Jr., Malvern, Larkin, Richard F., McCarthy, John H.. (2000). .Financial & Accounting Guide For Nonprofit Organizations. New York: John Wiley & Sons.
  2. 2. REQUIREMENTS I will distribute the following week’s problem set at the end of each class. Students should complete the problem sets during the week and come to class prepared to discuss the problem set and any problems encountered in completing the assignment. Problem sets will be collected and reviewed. In addition, there will be one take home mid-term exam during the semester, and a group project and presentation will serve as the final exam. The breakdown of the grading is as follows: Mid-Term Exam (take home) 40% Group Project & Presentation 40% Weekly Problem Sets 5% Class Participation 15% In prior years, some students have found it helpful to work through the weekly problem sets together and submit homework assignments as a group. Students wishing to make such arrangements this semester should speak with me. SCHEDULE OF TOPICS, READINGS AND ASSIGNMENTS FINANCIAL STATEMENT BASICS Date Topic Readings/Recommended Assignment Readings Jan. Introductions 20 Course Goals and Requirements Role of Financial Management 2 Primary Financial Statements – the Statement of Financial Position & Statement of Activities Budgeting Jan. Budgeting: Olenick & Olenick. (1991). Problem Set 1 27 Budget to actual comparisons A Nonprofit Organization Due Variance analysis Operating Manual. New York: John Diagnosing deficit problems Wiley & Sons. Chap 5 Corrective action plans Gross, et al., Chap 21 Feb. Cash flow analysis: Olenick & Olenick. (1991). Problem Set 2 3 Cash flow vs. budgeting A Nonprofit Organization Due Cash flow projections Operating Manual. New York: John Diagnosing cash flow problems Wiley & Sons. Chap 7 Corrective action plans Gross, et al., Chap 22
  3. 3. MANAGEMENT CONTROL Date Topic Readings Assignment Feb. Accounting Basics: To be determined Problem Set 3 10 & - Transactions & transaction Due Feb 13th Feb analysis 17 - cash basis vs. accrual basis Problem Set 4 - receivables & payables, & Due Feb 20st - account allowances - Revenue & expense recognition - deferred revenue - recording and accounting for grants and contributions - fixed assets and depreciation - preparation of basic financial statements financial statements - functional expense statement Distribute group project assignments Feb. Program Financial Analysis: Olenick & Olenick. (1991). A Problem Set 5 24 Cost analysis – direct and Nonprofit Organization Operating Due indirect costs Manual. New York: John Wiley & Indirect cost allocations Sons. Chap 6 Mar. Breakeven Analysis: Olenick & Olenick. (1991). A Problem Set 6 3 Nonprofit Organization Operating Due Review for Exam Manual. New York: John Wiley & Exam distributed Sons. Chap 6
  4. 4. FINANCIAL STATEMENT ANALYSIS Date Topic Readings Assignment Mar. Reading audited financial stmts None Exam Due At 10 Tax compliance: Federal Form the Beginning of 990 Class** Cash Flow Statement Mid-Semester Evaluations ** You may consult any of the readings from the course, or other materials that you find helpful in completing the exam. You may also discuss the questions with others in the class; but all answers should reflect your own work and you own understanding of the concepts and tasks covered on the exam. Mar. Spring Break 17 Mar. Review exam McLaughlin, Chap.5-6 24 Reading audited financial statements - review Gross, et al., Chap 13 & 26 Trend analysis Risk analysis Mar. Financial ratios & ratio analysis Gross, et al., Chap 14, pp. 262-289, Problem Set 7 31 Federal funds audits Chap 15 Due Endowments & other more complex statements Apr. Multi-class financial statements Gross, et al., Chap 31 Problem Set 8 7 Due Apr. Staffing the financial function McLaughlin, Chap. 16-18 14 Internal controls Insurance Gross, et al., Chap 24-25 Hiring an auditor Apr. Group Presentations Group Paper & 21 Course Evaluations Presentations Due

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