Financial Management for Public, Health, and Not-for-Profit Organizations (5th Revised edition)

Financial Management for Public, Health, and Not-for-Profit Organizations (5th Revised edition)

By: Steven A. Finkler (author), Daniel Lynwood Smith (author), Robert M. Purtell (author), Thad D. Calabrese (author)Hardback

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Description

This book details the foundational principles of each of the methods introduced in the book, and through step-by-step equations, figures, and exhibits, illustrates how to execute financial management in practice. Coverage includes cost analysis, budget preparation, budget and variance analysis, management control, and recording and reporting financial information, with an emphasis on preparing and analysing financial statements.

About Author

Dr. Steven A. Finkler is Professor Emeritus of Public and Health Administration, Accounting, and Financial Management at New York University's Robert F. Wagner Graduate School of Public Service (NYU Wagner). At NYU Wagner, he headed the specialization in health services financial management for over 20 years. An award-winning teacher and author, Dr. Finkler is engaged in a variety of research topics in the areas of economics and accounting. Among his publications are 25 books, several of which are Financial Management for Nurse Managers and Executives, 5th ed. (with Cheryl Jones and Christine T. Kovner, forthcoming 2017), Accounting Fundamentals for Health Care Management, 2nd ed. (with David Ward and Thad Calabrese, 2012), and Finance and Accounting for Nonfinancial Managers, 4th ed. (2011). He has also published more than 200 articles in many journals, including Health Services Research, Journal of Public Policy and Management, and Healthcare Financial Management. He received a Bachelor of Science degree in economics (dual major in accounting and finance) and Master of Science degree in accounting from the Wharton School at the University of Pennsylvania. His master's degree in economics and doctorate in business administration were awarded by Stanford University. Dr. Finkler, who is also a Certified Public Accountant, worked for several years as an auditor with Ernst and Young and was on the faculty of the Wharton School before joining NYU. He is a past member of the Executive Board of the International Society for Research in Healthcare Financial Management and the Editorial Board of Health Care Management Review, and he served as treasurer and a member of the Board of Governors of Daughters of Israel Geriatric Center. He was the editor of Hospital Cost Management & Accounting for 12 years and is a past member of the National Advisory Council for Nursing Research at the National Institutes of Health. He consults extensively, both around the country and abroad. Daniel L. Smith, PhD, is associate professor of public budgeting and financial management at NYU Wagner, where he is director of the finance specialization. His research focuses on state government budgeting and financial management and appears in Journal of Policy Analysis and Management, Journal of Public Administration Research and Theory (JPART), Public Administration Review (PAR), Public Budgeting & Finance, and Public Choice, among others. In addition, he is co-editor of JPART and serves on PAR's editorial board. Dr. Smith is vice chair of the Association for Budgeting and Financial Management, and he is a member of the Governmental Accounting Standards Advisory Council. He earned his doctorate in public administration in the School of Public and International Affairs at the University of Georgia. Thad D. Calabrese, PhD, is assistant professor of public and nonprofit financial management at NYU Wagner. His research focuses on not-for-profit and government accounting and finance and is published in the Journal of Public Administration Research and Theory, Public Administration Review, Public Budgeting & Finance, Journal of Accounting and Public Policy, Nonprofit and Voluntary Sector Quarterly, and Nonprofit Management & Leadership (NML), among others. In addition, he currently serves on the editorial board of NML, and he has served on the Association for Budgeting and Financial Management's member-elected Executive Committee. He also co-authored Accounting Fundamentals for Health Care Management, 2nd ed. (with Steven Finkler and David Ward, 2012). Prior to entering academia, he worked as a financial manager in the not-for-profit sector and in local government. Robert M. Purtell, PhD, recently retired as a clinical assistant professor of finance and director of the MPA program at the Nelson A. Rockefeller College of Public Affairs and Policy at the University at Albany, State University of New York. Dr. Purtell came to the academy after a long career as a financial manager and executive in the financial services industry. His research interests and publications focus on the valuation of public assets, the measurement and management of risk in public service organizations, and the use of evidence-based management. Dr. Purtell received his Bachelor of Science degree in mathematics from Manhattan College. He also received a Master of Business Administration degree from the Stern School of Business and Master of Philosophy and Doctor of Philosophy degrees from the Robert F. Wagner Graduate School of Public Service, both of which are at New York University.

Contents

Part I Introduction: Setting the Stage Chapter 1: Introduction to Financial Management Introduction What is Financial Management? Public Sector Resource Flows Why Public, Healthcare, and Not-for-profit in One Book? Why Should Public Service Organizations Worry about Financial Management? Should Public Service Organizations Earn a Profit? Ongoing Case Study Summary Part II: Planning Chapter 2: Planning for Success: Budgeting Introduction Mission Strategic Plan Long-Range Plan Budgets Behavioral Aspects of the Budget Process Summary Chapter 3: Additional Budgeting Concepts Introduction Line-item and Responsibility Center Budgets Centralization versus Decentralization Program and Functional Budgets Budgeting Techniques Additional Governmental Budgeting Issues Summary Chapter 4: Understanding Costs Introduction Basic Concepts and Definitions Cost Behavior Break-Even Analysis Cost Measurement Summary Chapter 5: Capital Budgeting Introduction Why Do We Need a Separate Capital Budget? Definition of Capital Assets: Theory And Practice Why Do Capital Assets Warrant Special Attention? The Time Value of Money Capital Asset Investment Analysis Summary Chapter 6: Long-Term Financing Introduction Equity Financing Long-Term Debt Summary Part III: Implementation and Controlling results Chapter 7: Managing Short-Term Resources and Obligations Introduction Working Capital Management Short-Term Resources Short-Term Obligations Summary Chapter 8: Accountability and Control Introduction Management Control Systems Measures of Performance Controlling Quality Variance Analysis Ethics Safeguarding Resources The Form 990 Consequences of Ethical Violations Summary Part IV: Reporting Results Chapter 9: Taking Stock of Where You Are: The Balance Sheet Introduction The Framework for Financial Accounting Generally Accepted Accounting Principles International Financial Reporting Standards Fiscal Years Balance Sheet Elements Assets: A Closer Look Liabilities: A Closer Look Net Assets or Fund Balance: A Closer Look Recording Financial Information Summary Chapter 10: Reporting the Results of Operations: The Activity and Cash Flow Statements Introduction The Activity Statement The Statement of Cash Flows Interrelationships among Financial Statements Notes to Financial Statements Recording and Reporting Financial Information Starting from Scratch Summary Chapter 11: Unique Aspects of Accounting for Not-for-Profit and Health Care Organizations Introduction Accounting for Not-for-Profit Organizations Fund Accounting Depreciation Donated Goods and Services Investments Taxes Accounting for Healthcare Organizations Summary Chapter 12: Unique Aspects of Accounting for State and Local Governments--Part I: The Recording Process Introduction Bases of Accounting Government Fund Accounting Recording Financial Information Summary Chapter 13: Unique Aspects of Accounting for State and Local Governments--Part II: Reporting Financial Results Introduction Reporting Financial Information Summary Part V: Financial Analysis Chapter 14: Financial Statement Analysis Introduction Financial Statement Review The Notes that Accompany Financial Statements Ratio Analysis Summary Chapter 15: Financial Condition Analysis Introduction Financial Condition Analysis Financial Statement Analysis versus Financial Condition Analysis Ratio Analysis Summary

Product Details

  • ISBN13: 9781506326849
  • Format: Hardback
  • Number Of Pages: 648
  • ID: 9781506326849
  • weight: 1339
  • ISBN10: 1506326846
  • edition: 5th Revised edition

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