Cost:

Free for HFMA Members
Buy HFMA Membership to Attend

Audience:

Business Partners
Hospitals and Other Providers

Career level:

Experienced Professional
Mid-Senior

Recommended for:

Accounting
Budgeting

Delivery Method:

Self Study

Advance Preparation:

None

Prerequisites:

None

Course Availability:

18 Months

Blog | Budgeting
A review of the possible implications for alternative payment models and provider payment rates in the wake of the national debt cresting at $1 trillion with a possible recession looming.
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Course | Intermediate | Budgeting
This course introduces budgetary control and explains the principles of strategic planning. It also describes the components of a business plan, explains the types of control budgets, lists the types of budgeting techniques, and explains bu...
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How To | Budgeting
For some healthcare providers, a combined budgeting approach using advanced statistical forecasting techniques in conjunction with a rolling budget process provides an optimum balance between traditional budgeting techniques and future fore...
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Case Study | Budgeting
New processes, coupled with decision-support software, have helped New Jersey’s largest health system save on equipment service and better plan for equipment replacement.
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Blog | Budgeting
Advisory Board’s John Johnston shares expert insights from a colleague, Sean Angert, regarding today’s challenges with hospital budgeting and margin sustainability, with planning advice for CFOs.
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Course | Intermediate | Budgeting

A&F: Financial Planning and Budgeting

Course | Intermediate | Budgeting

A&F: Financial Planning and Budgeting

Description

This course describes how organizations use budgets and presents an overview of types of budgets. It outlines steps in the budgeting process and describes two common budgeting methods. It reviews common cost behaviors and explains how they figure into flexible budgeting approaches. The course describes the role that reporting plays in financial planning and budgeting, and explains how organizations can evaluate capital requests. This course outlines the concept of ratio analysis and presents a broad look at four categories of ratio analysis.

Estimated course completion time: 1 hour and 15 minutes
After this program, you'll be able to..
  • Identify the level of management responsible for an operating budget
  • Identify a budget calendar
  • Identify the common sources of information used to develop the budgets included within the operating budget
  • Recognize the two most common approaches to departmental budgeting
  • Identify what is required to develop projections based on zero-based budgeting 
  • Identify the process of controlling utilization of resources, particularly labor, and incorporating benchmarking techniques and usage
  • Name the advantage of flexible budgets over fixed budgets
  • Define responsibility reports
  • Identify an effective responsibility reporting process, including steps and responsibilities
  • Name some of the significant variances that department heads should explain to upper management
  • Recognize the common capital investment evaluation techniques
  • Define the concept of ratio analysis
  • Recognize the specific uses of ratio analysis
  • Recognize how ratio analysis can help in determining how much of a debt burden an organization can assume
  • Name several types of profitability ratios
  • Name several liquidity ratios
  • Name several activity ratios
  • Define capital structure ratios

Related Courses | Budgeting

Certification | Overview | Accounting and Financial Reporting

Certified Specialist Accounting & Finance Recertification

The CSAF recertification program is recommended for active, eligible HFMA CSAF certificants with an upcoming maintenance due date of May 31, 2020. Not sure when your CSAF expiration date is? Sign in, click your profile image in the upper right corner, select My Development, and then click on the Certifications tab near the center of the page. You'll see your certifications along with their expiration date.


HFMA requires that eligible CSAF certificants gain continuing competence in the accounting and finance arena by taking a short assessment every two years. This program provides healthcare organizations with a means to ensure that their staff has the body of knowledge necessary to meet their demands. 

CSAF recertification course outline:
  • Financial Planning and Budgeting
  • Financial Reporting: Liabilities and Long-Term Debt
  • Financial Reporting: Relationships and Procedures
  • Financial Reporting: Revenue and Assets
  • Accounting Oversight and Internal Control
Assessment information:
This online program includes the above recertification courses and a recertification assessment. The assessment has 50 multiple choice questions and you have 90 minutes to complete it in one sitting. The passing score is 70%. If you do not pass on the first attempt, there is a mandatory 30-day waiting period. Please keep this in mind, as the deadline to complete the recertification assessment (to maintain your certification) is May 31, 2020.


Course | Intermediate | Budgeting

A&F: Budgeting and Forecasting

This course introduces budgetary control and explains the principles of strategic planning. It also describes the components of a business plan, explains the types of control budgets, lists the types of budgeting techniques, and explains budget variables. The course describes reporting functions, including responsibility reporting and offers details about types of cost behaviors. It introduces ratio analysis and discusses the four broad categories of ratio analysis.


Estimated course completion time: 2 hours

Course | Intermediate | Audit and Internal Controls

A&F: Accounting Oversight and Internal Control

This course explains the five components of internal control, paying particular attention to the specific categories of accounting and administrative internal controls. The course summarizes each provision of the Sarbanes-Oxley Act of 2002 and explains the makeup, function, and standards of the Public Company Accounting Oversight Board. The course describes auditor responsibilities, defines key auditing terms, and explains how and why operational audits should be carried out.


Estimated course completion time: 1 hour and 15 minutes

Course | Intermediate | Accounting and Financial Reporting

A&F: Financial Reporting: Liabilities and Long-Term Debt

This course describes how healthcare organizations should account for current liabilities and rules relating to tax exemption for healthcare organizations. It describes how long-term debt can be handled by healthcare organizations, including the practice of advance refunding. It also details the different types of revenue a healthcare organization must report and how to report the results of operations in a separate financial statement. Finally, the course explains how different kinds of reimbursement methods affect the financial risk and financial statements resulting from a contract.


Estimated course completion time: 1 hour and 45 minutes