This introductory course helps you apply financial management principles in a not-for-profit organization. It familiarizes the student with accounting essentials, the financial management cycle, budgeting, payroll, and reports and statements. You will explore regulatory compliance and issues specifically related to not-for-profits. Prior accounting knowledge is an asset, but not required. While some numerical competency is necessary together with basic spreadsheet abilities, this is not a course aimed at those wishing to embark on a career in accounting/finance, but rather a general manager hoping to gain basic fluency in fundamental principles of financial management.
Students are allowed to register up until the end of the first week without approval. ***This is not a self-paced course. There will be specific timelines for assignments and exams.*** Course content, kind and quality of assignments and general standards for this online course are the same as classroom courses. To be successful in our online courses, plan to spend 7-10 hours per course each week on your studies, starting Week 1. Our courses are paced and highly interactive with participation requirements weekly. Frequent contributions to asynchronous (not real time) online discussions are required to achieve a passing final grade. You must have an email address and access to a computer capable of downloading basic documents. Important course information will be sent to you prior to your course start date. Check your myRoommeme email account to access this information.
2 seats remaining as of Nov 21, 2019 1:33 am (PST). Availability may change at any time.
Upon successful completion of this course, the student will be able to:
Explain the duties and responsibilities of preparers and users of internal and external financial information in a not-for-profit organization.
Recommend appropriate financial information systems for internal and external audiences.
Discuss various approaches to budgeting in a not-for-profit organization.
Describe accounting and auditing standards (types of reports) issued by recognized bodies and associations.
Explain Federal and Provincial compliance requirements.
Apply the financial management process within a not-for-profit organization.
Explain the fiduciary responsibility of Directors.
Describe the importance of capital reserves to the long-term financial health of the organization.