Financial management and dental school strength, Part I: Strategy.

Abstract:

:The ultimate goal of financial management in a dental school is to accumulate assets that are available for strategic growth, which is a parallel objective to the profit motive in business. Budget development is often grounded in an income statement framework where the goal is to match revenues and expenses. Only when a balance sheet perspective (assets = liabilities + equity) is adopted can strategic growth be fully addressed. Four views of budgeting are presented in this article: 1) covering expenses, 2) shopping, 3) strategic support, and 4) budgeting as strategy. These perceptions of the budgeting process form a continuum, moving from a weak strategic position (covering expenses) to a strong one (budgeting as strategy) that encourages the accumulation of assets that build equity in the organization.

journal_name

J Dent Educ

authors

Chambers DW,Bergstrom R

keywords:

subject

Has Abstract

pub_date

2004-04-01 00:00:00

pages

433-8

issue

4

eissn

0022-0337

issn

1930-7837

journal_volume

68

pub_type

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