Financial Management

Instructor:

Name:  Sherry Ferriman, MBA, MDiv

E-mail: sferriman@iliff.edu

Available by email, phone, or Google Hangout

Course Synopsis

Course Description:

Financial Management (IST 2087; 2 credits)

A brief examination of various financial management concepts relevant to church leaders, non-profit and for-profit organizations, and various social and community activist positions. The class will explore important debt, equity, and fundraising issues critical to success in these fields and introduce basic financial terms such as forecasting, budgeting, and cash flow.

Required Resources:

Managing a Nonprofit Organization: Updated Twenty-First-Century Edition by Thomas Wolf (ISBN-10: 1451608462/ISBN-13: 978-1451608465)

Understanding Financial Statements: Master the Tools That Help You Succeed (Crisp Fifty-Minute Books) by James Gill and Moira Chatton (ISBN-10: 1426018509/ISBN-13: 978-1426018503)

(Recommendation :  Purchase Understanding Financial Statements directly from Logical Operations at http://store.logicaloperations.com/understanding-financial-statements-third-edition.html for a price of about $17.00.)

Other materials will be provided in Canvas, as needed

Course Overview

A brief examination of various financial management concepts relevant to church leaders, non-profit and for-profit organizations, and various social and community activist positions. The class will explore important debt, equity, and fundraising issues critical to success in these fields and introduce basic financial terms such as forecasting, budgeting, and cash flow.

Course Objectives

1)    Students will learn the basic principles and financial vocabulary applicable to a wide variety of non-profit organizations and churches. 

2)   Students will demonstrate basic budgeting concepts and how to apply these skills.

3)   Students will learn to effectively read and understand financial statements.

4)   Students will identify and reflect upon key issues concerning the role(s) of pastors of congregations and executive directors of other non-profit organizations with regard to the financial management effectiveness and the mission/vision of such congregations and other non-profit organizations.

5)   Students will use financial data to present relevant organizational financial data to a variety of stakeholders.

Degree Learning Goals: Please take some time to look over the Professional Degree Learning Goals (MDiv, MASC, MAPSC) and the Academic Degree Learning Goals (MTS, MA).

Incompletes: Incompletes are not allowed in this course since the course is being taught by Adjunct Faculty, see the Master's Student Handbook for Policies and Procedures.

Pass/Fail:  Masters students wishing to take the class pass/fail should discuss this with the instructor by the second class session.

Academic Integrity and Community Covenant:  All students are expected to abide by Iliff’s statement on Academic Integrity, as published in the Masters Student Handbook, or the Joint PhD Statement on Academic Honesty, as published in the Joint PhD Student Handbook, as appropriate.  All participants in this class are expected to be familiar with Iliff’s Community Covenant.

Accommodations:  Iliff engages in a collaborative effort with students with disabilities to reasonably accommodate student needs.   Students are encouraged to contact their assigned advisor to initiate the process of requesting accommodations.  The advising center can be contacted at advising@iliff.edu or by phone at 303-765-1146. 

Writing Lab:  Grammar and organization are important for all written assignments.  Additional help is available from the Iliff Writing Lab, which is available for students of any level who need help beginning an assignment, organizing thoughts, or reviewing a final draft. 

Inclusive Language:  It is expected that all course participants will use inclusive language in speaking and writing, and will use terms that do not create barriers to classroom community. 

Participation:  In an online class, participation is critical for your success.  Please check your settings in Canvas to ensure you receive updates and alerts for assignments, deadlines, and updates.  Failure to participate for two-weeks, (20%) of the course will result in recommendation that you are suspended from the course and receive a WF (Withdrawal Failing) per the Master’s Student Handbook. 

Communication:  Communication in an online environment can quickly escalate into a misunderstanding.  In the age of technology, online relationships, communication, and interaction is a critical skill that will increase effectiveness and efficiency.  Online etiquette, such as, not yelling at someone by using all CAPITAL letters, is essential to this success.  Take a moment and consider the perspective of the other, try to respect their perspective and walk away from the computer before hitting send if something has caused you to feel too uncomfortable.  Remember you are replying to a human being, not a computer or unknown and you cannot see their non-verbal communications to help understand what they are saying.  In the words of Stephen Covey, “Seek first to understand, and then be understood”.  It is expected that all students are respectful to others by allowing them to openly share their ideas, while respectfully agreeing or agreeing to disagree.  The online space represents a virtual classroom and if you wouldn’t say it or do it in person it doesn’t belong in the virtual space.

In an online class, it is even more important to communicate with the instructor if a hardship arises and you are unable to complete your assignment in a timely manner.  If you do not share the information, it is unlikely anyone else knows what is going.  It is the student’s responsibility to keep the affiliate faculty member apprised of situations that may affect their ability to fully participate in the course.