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Financial Management for Public, Health, and Not-for-Profit Organizations

Financial Management for Public, Health, and Not-for-Profit Organizations

Fifth Edition
Additional resources:

January 2016 | 648 pages | CQ Press
Now in its Fifth Edition, Financial Management for Public, Health, and Not-for-Profit Organizations is the leading textbook on financial management in the government, health, and not-for-profit sectors providing a comprehensive yet practical introduction to the financial decision-making and management skills required of students and practitioners in the field.  Assuming readers have no prior training in financial management, the authors artfully combine the principles and theory and analytics of accounting and finance.  Coverage includes cost analysis, budget preparation, budget and variance analysis, management control, and recording and reporting financial information, with an emphasis on preparing and analyzing financial statements. The authors detail the foundational principles of each of the methods introduced in the book, and through step-by-step equations, figures, and exhibits, they illustrate how to execute financial management in practice.

Part I Introduction: Setting the Stage
Chapter 1: Introduction to Financial Management
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  
Part II: Planning
Chapter 2: Planning for Success: Budgeting
Strategic Plan  
Long-Range Plan  
Behavioral Aspects of the Budget Process  
Chapter 3: Additional Budgeting Concepts
Line-item and Responsibility Center Budgets  
Centralization versus Decentralization  
Program and Functional Budgets  
Budgeting Techniques  
Additional Governmental Budgeting Issues  
Chapter 4: Understanding Costs
Basic Concepts and Definitions  
Cost Behavior  
Break-Even Analysis  
Cost Measurement  
Chapter 5: Capital Budgeting
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  
Chapter 6: Long-Term Financing
Equity Financing  
Long-Term Debt  
Part III: Implementation and Controlling results
Chapter 7: Managing Short-Term Resources and Obligations
Working Capital Management  
Short-Term Resources  
Short-Term Obligations  
Chapter 8: Accountability and Control
Management Control Systems  
Measures of Performance  
Controlling Quality  
Variance Analysis  
Safeguarding Resources  
The Form 990  
Consequences of Ethical Violations  
Part IV: Reporting Results
Chapter 9: Taking Stock of Where You Are: The Balance Sheet
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  
Chapter 10: Reporting the Results of Operations: The Activity and Cash Flow Statements
The Activity Statement  
The Statement of Cash Flows  
Interrelationships among Financial Statements  
Notes to Financial Statements  
Recording and Reporting Financial Information  
Starting from Scratch  
Chapter 11: Unique Aspects of Accounting for Not-for-Profit and Health Care Organizations
Accounting for Not-for-Profit Organizations  
Fund Accounting  
Donated Goods and Services  
Accounting for Healthcare Organizations  
Chapter 12: Unique Aspects of Accounting for State and Local Governments––Part I: The Recording Process
Bases of Accounting  
Government Fund Accounting  
Recording Financial Information  
Chapter 13: Unique Aspects of Accounting for State and Local Governments––Part II: Reporting Financial Results
Reporting Financial Information  
Part V: Financial Analysis
Chapter 14: Financial Statement Analysis
Financial Statement Review  
The Notes that Accompany Financial Statements  
Ratio Analysis  
Chapter 15: Financial Condition Analysis
Financial Condition Analysis  
Financial Statement Analysis versus Financial Condition Analysis  
Ratio Analysis  


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Student Study Site

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“The Finkler et al. book is so well balanced, it provides fundamentals on accounting and short-and long-term financial management techniques, as well as advanced-level techniques. The beauty of Financial Management is the way that it provides readers with how-to steps on accounting to interpret financial conditions.  It presents advanced topics, but in a user-friendly way, placing the title at the top in the textbook market.” 

Jay Ryu
Ohio University

Financial Management for Public, Health, and Not-for-Profit Organizations helps to enhance financial decision-making skills through the application of analytical concepts and decision-making techniques to a variety of financial situations.  Its presentation and readability are right for my students.”

Chester Robinson
Jackson State University

“Finkler et al.’s Financial Management continues to be my book of choice. Its discussions of financial statements, regulatory reporting, and related case studies are terrific! The case studies and exercises at the end of each chapter are great ways to engage students. I continue to recommend this text to my colleagues.”

Karen Kunz
West Virginia University
Key features

New to this Edition:

  • Revised and updated with the latest information, including relevant accounting standards issued by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).

Key Features:

  • Written for students with little or no financial management background, providing a uniquely comprehensive introduction to the “hard skills” for a non-expert audience.
  • Exercises, problems, case studies, and questions for discussion provide frequent opportunities to apply the skills and principles of financial management.

Sample Materials & Chapters

Chapter 1

Chapter 5

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