Outline:
Hour One I. Introduction a. Terminology b. Check point Activity- Multiple choice questions c. Seeing the “big picture” d. Organizational breakdown i. Resources for business owners e. Domains of practice i. Financial management policies and procedures comply with federal, state and local laws, rules and regulations ii. Financial management policies and procedures comply with generally accepted accounting principles (GAAP) iii. Develop, implement, and evaluate a budget iv. Develop long term projections of revenue mix and expense v. Monitor and comply with financial obligations vi. Maintain appropriate insurance coverage vii. Develop and implement a system to monitor and adjust financial performance viii. Learning Engagement Activity: Excel spreadsheet interactive activity, Questions (multiple choice) II. Compliance a. Laws, regulations, and rules b. Federal laws i. Medicare ii. Medicaid iii. Health insurance portability and accountability act (HIPAA) iv. Sarbanes-Oxley v. Stark Law vi. Check point-Multiple choice questions III. Generally accepted accounting principles a. Reports b. Objectives c. Revenue recognition i. Accrual accounting ii. For-profit and not-for-profit accounting iii. Check Point-Multiple choice questions and short video IV. Budgeting and financial performance a. Budgeting overview b. Types of budgets i. Operating ii. Capital iii. Development iv. Construction c. Budgeting Methods i. Fixed ii. Activity iii. Zero-Based iv. Learning Engagement Activity: Match the budget d. Budgeting Process i. Assess the environment ii. Programming iii. Operating the budget iv. Cash vs. capital budget V. Developing a budget a. Key variables b. Common terms c. Chart of accounts i. Assets ii. Liabilities iii. Capital iv. Revenues v. Expenses vi. Fund accounts (non-profit) vii. Learning Engagement Activity: Match the type of account d. Profit margin i. Ratio of income to sales ii. Gross profit iii. Net profit margin e. Cash Flow f. Depreciation g. EBITAR i. Earnings before interest depreciation amortization and deferred taxes h. Costs i. Variable ii. Fixed iii. Direct iv. Indirect i. Mix i. Revenue ii. Payment j. Turnover k. Revenue i. Forecasting ii. Service l. Expenses i. How expenses differ from cost m. Check point-multiple choice questions Hour Two VI. Accounting controls a. Cash receipts b. Cash disbursements c. Petty cash d. Payroll e. Gifts f. Fixed assets VII. Learning Engagement Activity: Questions (multiple choice) VIII. Segregation of duties IX. Monitoring financial performance a. Revenue management b. Purchasing and expense management c. Financial performance management d. Cash management e. Benchmarking f. Learning Engagement Activity: Questions (multiple choice) X. Financial Statements a. Financial b. Income c. Balance sheet d. Cash flow e. Learning Engagement Activity: Match the statement XI. Income statement sections a. Operating/non-operating sections i. Expenses ii. EBITDA iii. Financial indicators 1. Surplus or deficit 2. Budget vs. actual 3. Net operating income XII. Functional expense ratios a. Interest coverage b. Balance sheet c. Description d. Acid test e. Working capital/current ratio i. Cash flow statement ii. Inflows and outflows f. Learning Engagement Activity: video on ratios and Questions (multiple choice) XIII. Insurance, contracts, and agreements a. Contracts/agreements i. Contracts 1. Professional 2. Vendor 3. Resident ii. Insurance requirements 1. Insurance a. Property and casualty b. Professional liability c. Auto/vehicle d. Employee health e. Directors and officers (D&O) XIV. Budget strategies a. Performance management i. Employee performance ii. Turnover cost b. Small business i. Automate accounting ii. Tax preparation iii. Co-mingling of cash iv. Petty cash expenditures v. Receipt management XV. Conclusion and summary XVI. Final Exam (Posttest)

Cynthia McDaniel MSN RN, is a nurse and administrative consultant in long term care. She is the CEO of ElderWise Inc, a senior living consulting and education group. Cynthia has worked as a nurse consultant for the States of Oregon and Washington,  a geriatric care manager, a regional director of clinical operations for a senior living company, and an assistant professor at Oregon Health & Science University School of Nursing. Her research in assisted living focused on the characteristics of residents in assisted living communities and the role of the nurse in assisted living. Cynthia holds a Master's of Science in Nursing from Gonzaga University in nursing education. She is a Fellow of the Sigma Theta Tau/John A. Hartford Foundation Geriatric Nursing Leadership Academy.  Disclosure: Cynthia McDaniel, MSN, RN has declared that no conflict of interest, Relevant Financial Relationship or Relevant Non-Financial Relationship exists.

Holly Carlson, MS, RN, CCRN, was a subject matter expert for Relias. She has 25 years of healthcare experience in both acute and post-acute healthcare environments. Her experience includes leadership and management across the healthcare spectrum. She has owned and operated an assisted living business. Carlson's clinical practice includes acute care, long-term acute care, home health and hospice. Carlson has served for over a decade in various board positions for State Nursing Associations, including president. She has been a nurse planner for multiple continuing education events and has experience as a leader in the design and implementation of an ANCC-CNE accredited approver unit for a multi-state nursing consortium. Carlson is certified as Critical Care Registered Nurse.    Disclosure: Holly Carlson, MS, RN, CCRN has declared that no conflict of interest, Relevant Financial Relationship or Relevant Non-Financial Relationship exists.