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GRAD > GERON GR > 680
Financial Management in Aging Services
Description:
The objective of this course is to introduce principles and applications of healthcare/long-term care financial management based on theory and practices in Accounting and Finance. The course is user oriented and focuses on issues that are important to managers for planning and decision making in the eldercare industry. Given the increased emphasis on financial viability, it is felt that all aspiring managers in any organization, be it for profit or not-for-profit, should have a basic understanding of factors that help improve the financial well being of an organization. For any organization, the three critical elements of financial management are (1) basic knowledge about accounting information, (2) relevant industry factors and (3) principles of economics upon which many types of business decisions are made. Although the user is not aspiring to become a CPA, in order to make informed decisions it is essential to have an understanding of the terminology and techniques of generating and reporting financial information. Also, all organizations work within specific industries and fields and they have to work within the competitive and regulatory environment surrounding that industry that impacts all managerial decisions. This course provides students with the tools to operate within these contexts.
