STEWARDSHIP: FINANCIAL PLANNING, BUDGETING AND REPORTING

TEF22234 STEWARDSHIP: FINANCIAL PLANNING, BUDGETING AND REPORTING
COURSE CODE: TEF22234
COURSE LEVEL: Diploma
CREDIT UNITS: (3 CU)
COURSE DESCRIPTION
The course will introduce the concept of stewardship in relation to our resources (human and financial). In addition, the course is a general overview of financial management as stewardship and will familiarize students with budgeting processes and financial planning. A discussion of costs of daily life and money management will be engaged in order to understand realistic financial management. The course will review common accounting practices and expose students to budgeting, cost analysis, income and expense statements, and how to read basic financial statements.
COURSE OBJECTIVES
The course is intended to:
1. Introduce students to the theological concept of stewardship in relation to property,
finances, and human resources;
2. Introduce students to financial management principles and practices that will include the concepts of cost, pricing, and profit analysis;
3. Familiarize students with financial structures of business and organizations;
4. Introduce decision making tools and processes to determine the time value of money;
5. Familiarize students with financial statements and provide opportunities for the students to practice reading financial statements;
6. Familiarize students with financial planning processes.
LEARNING OBJECTIVES
By the end of the course students should be able to:
1. Appreciate the relationship between stewardship, simplicity of life, and human and
financial resources;
2. Differentiate types of costs: direct, indirect, fixed and variable;
3. Understand financial management principles and practices;
4. Recognize basic accounting conventions used in financial statements;
5. Assess conditions of an organization in order to develop financial planning for the
organization.
COURSE CONTENT
1. Perspectives of Understanding the Concept of Stewardship (9 hours)
a) Defining the term stewardship from the ordinary usage (English dictionary)
b) The Philosophical perspective of stewardship
c) The Biblical/theological Principles of stewardship
i. The principle of ownership
ii. The principle of responsibility
iii. The principle of accountability
iv. The principle of reward.
d) The African traditional view of stewardship

2. An overview of types of stewardship in society (6 hours)
a) Finances or economic resources
b) Human resources
c) Environmental assets

3. Financial Planning and Management (12 hours)
a) Established policies and procedures for managing finances of the group/communities
b) Assessment of financial conditions of various communities
c) An understanding of intrinsic value of money
d) Key elements of financial planning
i. Profit and loss statement
ii. Cash flow statement
iii. Balance sheet
iv. Sales forecast
v. Personnel plan
vi. An analysis of business ratios
e) Elements of financial management e.g.
i. Planning Policy
ii. Annual Budget Plans
iii. Cash Balances
iv. Debt Ratios
v. Cash Management
4. Budgeting (12 hours)
a) Purpose and rationale for budgeting in responsible stewardship
b) Principles of budgeting
c) Types of budgets
i. Sales Budget
ii.
iii. Production Budget
iv. Capital Budget
v. Cash Flow/Cash Budget
vi. Marketing Budget
vii. Project Budget
viii. Revenue Budget
ix. Expenditure Budget
5. Reporting (6 hours)
a) Purpose and rationale for reporting in responsible stewardship
b) Standard format for reporting the results of operation (income and expense statement,
balance sheet, statement of cash flow).
METHODS S OF TEACHING/DELIVERY
 Lecture
 Group discussions/presentations/critique
 Internet research and library research
 Student papers to probe specific issues
MODE OF ASSESSMENT
Coursework and continuous assessment 50%
Final examination 50%
Total 100%
REFERENCE MATERIALS
Haughey, John. The Holy Use of Money: Personal Finances in Light of Christian Faith.
Crossroad Publishing Company, Rev Sub edition. December 1989.
John Paul II. One Hundred Years. December, 1990