Financial acumen
Definition of attribute
- Demonstrates comprehensive understanding of the application of financial, accounting, and economic concepts to the budgeting and resource allocation process of the University
- Makes well-informed and timely financial decisions with an understanding of their consequences and impact on the University
Integration of attribute into practice
Standard
- Seeks financial and economic data to set performance goals which further the strategy of the University
- Understands how to use resource allocation to meet strategic goals
- Applies appropriate financial tools to make decisions and solve problems
Enhanced
- Understands both the financial challenges and opportunities for the University
- Has an understanding of the economic forces that affect University activities
- Has a well-developed sense of financial issues and how they affect strategy, institutional plans and stakeholders
Skills and tools
- Financial Analysis for Business Performance and Financial Strategies
- Resource Allocation Models
- Regulatory environment, annual reports, disclosures
- Framework for financial statement analysis, value-based management
- Capital budgeting and techniques for valuation