NDFS 455

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Financial Management in Dietetics

Nutrition, Dietetics, and Food Science College of Life Sciences

Course Description

Basic financial management principles focused on application to the dietetics industry. Topics include basic accounting, financial statements, financial ratios, financial control, productivity measures, menu pricing, menu engineering, billing and coding, and budgets and budgeting.

When Taught

Fall

Min

3

Fixed

3

Fixed

3

Fixed

0

Title

Menu Pricing

Learning Outcome

Utilize menu pricing strategies including menu engineering to appropriately price and develop menus

Title

Recipe Costing

Learning Outcome

Demonstrate competency in recipe factoring and recipe costing

Title

Financial Statements

Learning Outcome

Interpret financial statements and financial ratios KRDN 4.2

Title

Billing and Coding

Learning Outcome

Describe the regulation system related to billing and coding, what services are reimbursable by third party payers, and how reimbursement may be obtained  KRDN 2.4; 4.3

Title

Budgeting

Learning Outcome

Evaluate and analyze different types of financial budgets KRDN 1.3, 4.2

Title

Learning Outcomes Table

Learning Outcome

  *ACEND Knowledge Requirement   By the conclusion of the course, students will:   Measured/Met by:   Demonstrate competency in recipe factoring and recipe costing Recipe and Menu Pricing Assignment   Utilize menu pricing strategies including menu engineering to appropriately price and develop menus Recipe and Menu Pricing Assignment KRDN 4.2 Interpret financial statements and financial ratios Financial statement assignment; Exams KRDN 4.2 KRDN 1.3 KRDN 4.7 Calculate and interpret food, labor, and other cost ratios Financial statement assignment; Exams KRDN 4.2 Apply basic methods of food, labor and other cost control. Recipe cost sales assignment; Exam 1 KRDN 4.2 KRDN 1.3 Calculate and interpret operational measures including breakeven points, productivity, and cost of goods sold Cost volume profit assignment; exams KRDN 4.2 Understand concepts related to payback period and net present value of equipment purchases In class activities, KRDN 4.2 Evaluate and analyze budgets of dietetics operations Budget assignment KRDN 4.3; 2.4 Describe the regulation system related to billing and coding, what services are reimbursable by third party payers, and how reimbursement may be obtained Billing and Coding worksheet KRDN 4.2 KRDN 1.3 Analyze and evaluate different types of financial budgets Budget assignment

Title

Cost Ratios

Learning Outcome

Calculate, interpret, and apply food, labor, and other cost ratios KRDN 4.2, 1.3, 4.7

Title

Operational Measures

Learning Outcome

Calculate and interpret operational measures including breakeven points, productivity, and cost of goods sold KRDN 1.3, 4.2

Title

Payback and Present Value

Learning Outcome

Calculate payback period and net present value of equipment purchases KRDN 4.2