EDM7206 Financial Management in Educational Institutions

This course introduces students to the financial tools and techniques which can be used to help educational institutions maximize value by improving decisions related to capital budgeting, capital structure, and working capital management. It covers areas like financial analysis, sources of finance, capital budgeting, and asset and inventory management

Course Objectives
The objectives of this course are to

• Gain understanding of basic principles, system and procedures in management of educational finance
• Acquire basic knowledge on accounting, budgeting and auditing in educational institutions
• Analyse financial problems affecting educational institutions.
• Improving financial management skills like budgeting techniques, resource allocation, planning and utilization among education managers and administrators 
• Instilling a pro-active  drive in mobilizing resources to cover your institutions’ running and investment costs among institutional leaders and  managers
• Citing some examples of innovative ways of financial management and the reasons for change; the use of  mechanisms and tools for a transparent planning and utilization of resources; and Planning for sustainable projects and expenditures geared at institutional development.

Learning Outcomes
By the end of the course, students should be able to

• Examine continued challenges of financing and management of finances in education
• Explain the linkage between financing education and the role of the State and the private sector
• Apply the various models of financial management in education
• Appreciate the role of accountability in education management
• Demonstrate knowledge of the major elements and tools of an educational organization’s financial system
•  Explain the techniques which can help an educational institution improve its financial decision making