FIN701: Financial Management in Education
In education, financial management includes managing real estate support, staff salaries, student programs, resources, and technology. The school administrator, or supervisor, is responsible for distributing the funds and maintaining accurate records, or documents, for these purposes. FIN701 Handouts pdf
FIN701 Handouts pdf
Course Category: Accounting, Banking & Finance
Course Outline
Financial Management, FM in Business and Commerce, Accounting vs. FM, Financial Management Process, Financial Management Functions, Financial Management Decisions, Role of a Financial Manager, Purpose of FM in Education, Meaning of FM in Education, Financial Goals of FM in Education, Characteristics of Financial, Management in Education, Adequacy of FM Systems in Education, Ways to Improve FM Systems in Education, Weaknesses in FM Systems, Budget vs. Budgeting, Budgeting in Education, Budgeting – An Instrument for Planning, Budgetary Practices around the Globe, Different Approaches to Budgeting, Education Budgets (A Study of Selected Districts of Pakistan), Non-Salary Budgeting (NSB), Purpose of NSB, Importance of NSB, Estimation of NSB, NSB Formula, Role of Government Institutions,
School Site Budgeting (SSB), Advantages of SSB, Disadvantages of SSB, School-Based Budgeting in Pakistan, Traditional Budgeting vs. ZBB, Traditional Budgeting vs. ZBB (Example), Zero-Based Budgeting (ZBB), Historical Development of ZBB, Basic Tenets of ZBB, Process Flow of ZBB, Formulation Steps in ZBB, Advantages of ZBB, Disadvantages of ZBB, Myths and Realities about ZBB, Myth # 1 & its Reality (ZBB), Myth # 2 & its Reality (ZBB), Myth # 3 & its Reality (ZBB), Myth # 4 & its Reality (ZBB), Myth # 5 & its Reality (ZBB), FIN701Handouts
PPBES, Essentials of PPBES, Characteristics of PPBES, Requirements for Implementing PPBES, Categories of Data, PPBES (Figure), Steps for Implementing PPBES, MID-TERM EXAMINATION, Cash Management, Cash Management in Education System, Cash Management Program, Primary Goals of CM Program, Other Goals of CM Program, Cash Budgeting, Objectives of Cash Budgeting, Cash Budgeting in Education, Cash Flow Chart, Cash Flow Pattern, Control of Costs, Total vs. Unit Costs, Average vs. Marginal Costs, Recurrent vs. Capital Costs, Money vs. Resource Costs, Nominal vs. Real Costs, Control of Costs in Education, Statistical Indicators for Cost Control, Cost-Effectiveness in Education,
School Accounting, Objectives of School Accounting, Double-entry Book-keeping, Characteristics of D.Entry Book-keeping, Advantages of Double-entry Book-keeping, Disadvantages of D.Entry Book-keeping, Accounting Equation, Principles of Double-entry Book-keeping, Principles of D.Entry B.Keeping (Example), Journal and Ledger, Trial Balance, Journal, Ledger and Trial Balance (Example), Income & Expenditures Accounts, Cash Basis vs. Accrual Basis, Fund Accounting, Management Information Systems (MIS), Advantages of MIS, Basic Features of MIS, MIS Processing Steps, Financial Management Information System, What is FMIS?, An Ideal FMIS, Advantages of an FMIS,
Auditing, Internal Audit, External Audit, Administrator’s Responsibility in Audit, Types of Audits – Financial Audit, Types of Audits – Operational Audit, Types of Audits – Information System Audit, Types of Audits – Compliance Audit, Types of Audits – Integrated Audit, FIN701 Handouts pdf download. Types of Audits – Educational Audit, Timing of Audit, Summarizing the Types of Audits, Advantages of Auditing, Disadvantages & Limitations of Auditing, Financial Allocation, How Authorities Allocate Funds?, Financial Inequalities, Principle Approaches to Equalization, Urban vs. Rural Schools, Education For All (EFA), Education For All (EFA) Goals, EFA Monitoring Report, Pakistan EFA Review Report (Objectives), Pakistan EFA Review Report (Methodology), Time Value of Money, Discounting vs. Compounding, Present Value, Future Value, Simple Interest vs. Compound Interest, Course Recap, FIN701 Handouts pdf
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FIN701 HANDOUTS
FIN701: Financial Management in Education
Business and Commercial Financial Management
In its normal functioning, a company provides a product or service, sells it to its customer, raises money, and starts the process again. Financial management manages cash flow efficiently through this cycle. This means managing estimated revenue and expenditure assets, sales to customers and collecting receipts on time, and starting over with purchasing additional equipment.
Financial Management Process
A Financial Management System is the process by which costs (or costs) incurred in a project are officially recognized, authorized, and remunerated. The Financial Management process should be initiated after the expected Financial Expenditure Form has been developed and approved during the Business Planning phase. This plan provides a way to monitor and control the actual project funds compared to those originally planned/budgeted.
