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

Sixth Edition
Additional resources:


December 2018 | 632 pages | CQ Press
“No other textbook does a better job of providing public administration students with the financial skills, vocabulary, and knowledge that are necessary for successful careers in government, nonprofit, and health care.” 
—David Matkin, University at Albany - SUNY

Reflecting recent changes in accounting standards, this Sixth Edition of Financial Management for Public, Health, and Not-for-Profit Organizations provides a comprehensive yet practical introduction to the financial decision-making and management skills required of students and practitioners in the public, health, and not-for-profit sectors. Assuming that readers have no prior training in financial management, the authors artfully combine the principles, theory, and analytics of accounting and finance. In every chapter, a wide range of exercises, case studies, and problems help students develop strong financial assessment and judgment proficiencies while reinforcing the essential mechanics of accounting. 

Instructors, sign in at study.sagepub.com/finkler6e for chapter-specific discussion questions, editable PowerPoint® slides, and more!

 
Preface
 
Case Examples
 
About the Authors
 
PART I: INTRODUCTION: SETTING THE STAGE
 
CHAPTER 1: Introduction to Financial Management
What Is Financial Management?

 
Public Sector Resource Flows

 
Why Discuss Public, Health Care, 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

 
Key Terms from This Chapter

 
Questions for Discussion

 
Appendix 1-A. Fundraising

 
Key Terms from This Appendix

 
 
PART II: PLANNING
 
CHAPTER 2: Planning for Success: Budgeting
Mission

 
Strategic Plan

 
Long-Range Plan

 
Budgets

 
Case Study: Special Purpose Budget

 
Behavioral Aspects of the Budget Process

 
Case Study: Developing a Government Budget

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Problems

 
 
CHAPTER 3: Additional Budgeting Concepts
Line-Item and Responsibility Center Budgets

 
Centralization versus Decentralization

 
Program and Functional Budgets

 
Budgeting Techniques

 
Additional Governmental Budgeting Issues

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Problems

 
Appendix 3-A. Performance Budget Example

 
Appendix 3-B. Forecasting Using Historical Data

 
Key Terms from This Appendix

 
 
CHAPTER 4: Understanding Costs
Basic Concepts and Definitions

 
Cost Behavior

 
Break-Even Analysis

 
Cost Measurement

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Problems

 
Appendix 4-A. Additional Break-Even Analysis Issues

 
 
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

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Exercises (TVM)

 
Problems

 
Appendix 5-A. Using a Financial Calculator for Time Value of Money Calculations

 
Appendix 5-B. Using Computer Spreadsheets for Time Value of Money Calculations—Examples

 
 
CHAPTER 6: Long-Term Financing
Equity Financing

 
Long-Term Debt

 
Social Impact Bonds (SIBs)

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Exercises (TVM)

 
Problems

 
 
PART III: IMPLEMENTATION AND CONTROLLING RESULTS
 
CHAPTER 7: Managing Short-Term Resources and Obligations
Working Capital Management

 
Short-Term Resources

 
Short-Term Obligations

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Problems

 
Case Study: The Case of the Missing Check

 
Appendix 7-A. Economic Order Quantity

 
Key Terms from This Appendix

 
Appendix 7-B. Credit Terms

 
 
CHAPTER 8: Accountability and Control
Management Control Systems

 
Measures of Performance

 
Controlling Quality

 
Variance Analysis

 
Ethics

 
Safeguarding Resources

 
The Form 990

 
Consequences of Ethical Violations

 
Summary

 
Key Term from This Chapter

 
Questions for Discussion

 
Problems

 
 
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

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Problems

 
Appendix 9-A. The Recording Process: Debits and Credits

 
Appendix 9-B. Using Dollar Signs and Underlines in Accounting

 
 
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

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Problems

 
Appendix 10-A. Sources of Revenue for Governments

 
Key Terms from This Appendix

 
Appendix 10-B. Accelerated Depreciation Methods

 
Appendix 10-C. Inventory Valuation Methods

 
Appendix 10-D. The Recording Process: Debits and Credits

 
Appendix 10-E. The Accounting Cycle

 
 
CHAPTER 11: Unique Aspects of Accounting for Not-for-Profit and Health-Care Organizations
Accounting for Not-for-Profit Organizations

 
Fund Accounting

 
Depreciation

 
Donated Goods and Services

 
Investments

 
Taxes

 
Accounting for Health-Care Organizations

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Problems

 
Case Study: Individual Rehabilitation Services (IRS)

 
Appendix 11-A. Taxation of Not-for-Profit Entities

 
 
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

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Problems

 
Appendix 12-A. The Recording Process: Debits and Credits

 
 
CHAPTER 13: Unique Aspects of Accounting for State and Local Governments—Part II: Reporting Financial Results
Reporting Financial Information

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Problem

 
Appendix 13-A. Interrelationships among Government Financial Statements

 
 
PART V: FINANCIAL ANALYSIS
 
CHAPTER 14: Financial Statement Analysis
Financial Statement Review

 
The Notes That Accompany Financial Statements

 
Ratio Analysis

 
Assessment

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Problems

 
 
CHAPTER 15: Financial Condition Analysis
Financial Condition Analysis

 
Financial Statement Analysis versus Financial Condition Analysis

 
Ratio Analysis

 
Summary

 
Key Terms from This Chapter

 
Questions for Discussion

 
Problems

 
Appendix 15-A. Bond Ratings

 
Key Terms from This Appendix

 
 
Glossary
 
Index

Supplements

Instructors Resource Site

Calling all instructors!

It’s easy to log on to SAGE’s password-protected Instructor Resources Site for complete and protected access to all text-specific Instructor Resources. Simply provide your institutional information for verification, and within 72 hours you’ll be able to use your log-in information for any SAGE title!

Password-protected Instructor Resources include the following:

  • Solutions to end-of-chapter questions include detailed solutions in both Word and Excel format.
  • Editable, chapter-specific Microsoft® PowerPoint® slides offer you complete flexibility in easily creating a multimedia presentation for your course. Highlight essential content, features, and artwork from the book.
  • Cases Studies challenge students to identify and apply the concepts that are illustrated in each case. The cases are designed for instructors to extend questions to students, initiate class discussion, assign as homework, or conduct an in-class exercise.
  • Excel templates for selected chapter problems may be provided to students as an aid to solving problems. Most templates simply provide a format for solving the problem, while some retain the relevant Excel formulas. Files may be edited as desired by the instructor.  
  • Tables and figures from the book are provided for your courses.

“No other textbook does a better job of providing public administration students with the financial skills, vocabulary, and knowledge that are necessary for successful careers in government, nonprofit, and health care.”

David Matkin
University at Albany - SUNY

“[Financial Management is] a great text for the non-accountant looking to learn the nuts and bolts of nonprofit financial management.” 

Daniel Gordon Neely
University of Wisconsin–Milwaukee

“This text provides broad coverage of governmental and nonprofit financial management in a practical, easy-to-understand, and skills-oriented approach perfect for MPA and MPP students.” 

Ross Rubenstein
Georgia State University
Key features

NEW TO THIS EDITION: 

  • Recent changes implemented by both the Financial Accounting Standards Board and the Governmental Accounting Standards Board reflected in every chapter.
  • Updated online case studies in both managerial and financial accounting 
  • Expanded and updated homework problems at the end of each chapter 
  • The full suite of online Instructor’s Resources that have been expanded, updated, and revised.

KEY FEATURES:

  • Written for students with little or no financial management background, the book provides 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.
  • Comprehensive 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. 
  • Coverage of the foundational principles of each of the methods introduced in the book includes step-by-step equations, figures, and exhibits that illustrate how to execute financial management in practice.

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