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Introduction to Financial Management

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Introduction to Financial Management

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Course Number:
SP080-CCG

Introduction to Financial Management
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Code
"ONL10"
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Course Information:
  • Online Training Course
  • Credit Hours: 2
  • Properly Monitor Financial Performance
  • Successful Financial Manager as an Assisted Living and Residential Care Administrator
Helpful Instructions?
 Purchasing Courses for Yourself Purchasing Courses for Yourself:

This Training course is delivered 100% online through our Online Campus. In order to enroll you in a course we will need to collect your First Name, Last Name and Email Address.

When you place your order we will create an account for you, or add the courses to your existing account if you are a return customer. Access to the Online Campus is based on your email address. If you are a return customer, please purchase using the same email address used previously to avoid creating a duplicate account.

The course(s) you purchase will be available within 10 minutes of purchase and your login information will be sent to the email address you provide.
 Purchasing Courses for Others Purchasing Courses for Others:

This Training course is delivered 100% online through our Online Campus. If you are purchasing for others or your employees, please make sure to provide the First Name, Last Name, and Email Address of the person who you are purchasing for.

IMPORTANT: Access to the Online Campus is based on email addresses. If you are purchasing for multiple people, each person must have a unique email address to access the Online Campus. DO NOT USE THE SAME EMAIL ADDRESS FOR DIFFERENT INDIVIDUALS!

When you place your order we will create accounts for each individual you are purchasing for. If you are a return customer, please purchase using the same email address used previously to avoid creating duplicate accounts.

Example: Jim is buying a course for Bob. Jim will provide Bob’s First, Last and Email before the course is added to cart. Jim then uses his personal information for the checkout process.

We understand no one likes to give out their information and that’s why we only require the course attendee’s First Name, Last Name and Email to add the course to your shopping cart.

The course(s) you purchase will be available within 10 minutes of purchase and each person’s login information will be sent to the email address you provide.
$29.99

Introduction to Financial Management Info:

Course Description

This self-paced online course is designed to prepare the assisted living and residential care administrator to be successful in business and financial management. In this course we will address an introduction to financial management in the assisted living and residential care setting. We will discuss how to effectively document important information as well as other general accounting principles. We will go over budgeting issues, contracts and agreements, and Insurance. This course will prepare the learner to properly monitor financial performance in order to maintain the highest quality of care for each of the residents and staff in his or her Community.

Course Objectives

    By the end of this course the participant will be able to:
  • 1. Identify generally accepted accounting principles in assisted living and residential care.
  • 2. Define for profit compared to not for profit accounting.
  • 3. Understand various forms of financial statements, including: income statements, balance sheets, and cash-flow statements.
  • 4. Develop accounting controls such as cash receipts as well as cash disbursements.
  • 5. Properly monitor financial performance in order to maintain the highest quality of care for each of the residents and staff of his or her assisted living and residential care.
  • 6. Address budgeting issues and define common terms.
  • 7. Understand common contracts and agreements.
  • 8. Discuss insurance issues and develop successful plans.
  • 9. Learn effective ways to be a successful financial manager as an assisted living and residential care administrator.


Course Outcomes

  • 1. Introduction
  • a. Seeing the “Big Picture”
  • b. Organizational breakdown
  • c. NAB domains of practice
  • 2. Compliance
  • a. Medicare
  • b. Medicaid
  • c. HIPAA
  • d. Sarbanes-Oxley
  • 3. Generally Accepted Accounting Principles
  • a. Reports
  • b. Objectives
  • c. Revenue recognition
  • d. Accrual accounting
  • e. For-Profit and Not-for-Profit Accounting
  • f. Financial statements
  • i. Income statement
  • ii. Balance sheet
  • iii. Cash-flow statement
  • 4. Budgeting
  • a. Types of budgets
  • i. Operating budget
  • ii. Capital budget
  • iii. Development budget
  • iv. Construction budget
  • v. Acquisition budget
  • b. Budgeting methods
  • i. Fixed budget
  • ii. Activity-based budgeting
  • iii. Zero-based budgeting
  • c. Budgeting process
  • d. Developing a budget: Kay variables
  • e. Common terms
  • f. Key elements/assumptions
  • g. Revenue
  • h. Expenses
  • 5. Developing Accounting Controls
  • a. Cash receipts
  • b. Cash disbursements
  • c. Petty cash
  • d. Payroll
  • e. Gifts
  • f. Fixed assets
  • 6. Monitoring Financial Performance
  • a. Revenue Management
  • b. Purchasing and expense management
  • c. Financial performance management
  • d. Cash management
  • e. Benchmarking
  • 7. Financial statements
  • 8. Income Statement
  • a. Operating/non-operating sections
  • b. Expenses
  • c. EBITDA
  • d. Surplus or deficit
  • e. Budget vs. actual
  • f. Net operating income
  • g. Functional expense ratios
  • h. Interest coverage
  • 9. Balance Sheet
  • a. Description
  • b. Acid test
  • c. Working capital
  • 10. Cash flow statement
  • a. Inflows and Outflows
  • b. Cash flow vs. Profitability
  • 11. Contracts/agreements
  • a. Professional
  • b. Vendor
  • c. Resident
  • 12. Insurance
  • a. Property and casualty insurance
  • b. Professional liability
  • c. Vehicle insurance
  • d. D&O insurance
  • e. Workers compensation insurance


Instructor: Sandi Flores, RN and Josh Allen, RN

Josh Allen is a Registered Nurse with over 20 years of experience in senior living. As the Director of InTouch at Home, Josh oversees all aspects of business development, care, services, and operations for the organization. As a part of the SRG Senior Living family of companies, InTouch at Home delivers personalized care and services to clients living in senior living communities as well as private residences across three states.

Josh also serves on the board of the American Assisted Living Nurses Association, and represents AALNA on the boards of the Center for Excellence in Assisted Living and Coalition of Geriatric Nursing Organizations. Josh has previously served as President and CEO of Care and Compliance Group, a leading training solutions provider.

Sandra Flores, RN is a respected educator, consultant, and published author for the Assisted Living industry. Sandi is past president of the American Assisted Living Nurses Association representing the organization in Washington, DC as a board member of the Center for Excellence in Assisted Living. She serves as a consultant on resident care with over 3000 beds under clinical management. She also provides expert witness for legal review to industry providers. As an educator, Sandi has instructed more than twenty thousand residential care administrators and caregivers throughout the western United States. Sandi also co-authors a monthly column in the magazine Geriatric Nursing.

Additional Information

Canonical Link N/A
Course Type Online Course

Introduction to Financial Management

USD

$29.99

0