This course introduces fundamental concepts of using financial tools and analysis for effective managerial decision making in criminal justice and security. Topics include the role of the financial management in the criminal justice and security organization, concepts and principles underlying financial practices, and operational planning and budgeting.
Explain the use of making informed financial decisions.
Identify the key players in the budget process.
Calculate key financial decision tools.
Evaluate financial analysis tools.
Recommend organizational alternatives using financial analysis.
Describe the various cost descriptors such as (fixed, variable, direct, indirect, budget cycle, etc.).
Apply Cost-Benefit analysis to an organizational situation.
Annual Budget and Short-Term Techniques
Assess inventory, personnel, and infrastructure costs.
Prepare a budget.
Compare and contrast various budget management techniques.
Compare and contrast the various methods of short-term financing.
Establishing the Actual Cost of Services
Calculate present and project the future cost of current operational services.
List various cost control applications.
Explain the components of a budget control system.
Financial Contingency Planning
Explain the concept of Financial Contingency Planning
Establish the sources of temporary assistance, funding, assets.
Calculate the cost of catastrophic events on the organization (scenarios).
Capital Procurement and Strategic Budgetary Strategies
Describe the Capital Procurement (multi-year), Municipal Bond, and Grant (state and federal) processes.
Develop and describe the cost of various organizational operational options.
Evaluate an organization's current and future operational policy.
Evaluate long-term financial alternatives (e.g., annual budget, political change, bond issues, grants, etc.).
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Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.