Overview

Reflecting recent changes in accounting standards, this Sixth Edition of Financial Management for Public, Health, and Not-for-Profit Organizations, by Steven A. Finkler, Daniel L. Smith, and Thad D. Calabrese, 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 you 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 you develop strong financial assessment and judgment proficiencies while reinforcing the essential mechanics of accounting.

Full Product Details

Author:   Steven A. Finkler ,  Daniel L. Smith ,  Thad D. Calabrese
Publisher:   SAGE Publications Inc
Imprint:   CQ Press
Edition:   6th Revised edition
Weight:   1.730kg
ISBN:  

9781506396811

ISBN 10:   150639681
Pages:   632
Publication Date:   11 March 2019
Audience:   College/higher education ,  Tertiary & Higher Education
Format:   Hardback
Publisher's Status:   Active
Availability:   In stock  
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Table of Contents

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

Reviews

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

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

Author Information

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 and Director of the Master of Public Administration program at University of Delaware. 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 has served on PAR’s editorial board. Dr. Smith is immediate past chair of the Association for Budgeting and Financial Management and a former 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.

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