Steven A. Finkler, Ph.D., CPA
Professor of Public and Health Administration, Accounting, and Financial Management
Robert F. Wagner Graduate School of Public Service
295 Lafayette Street, Room 3010
New York, NY 10012
Phone: (212) 998-7463
Email: steven.finkler@nyu.edu
Financial Management for Public, Health, and Not-for-Profit Organizations,
Second Edition, 2005, by Steven A. Finkler, Ph.D., CPA
General Introduction
Errata for Text, Instructor's Manual, and Class Notes
General Introduction
At the Robert F. Wagner Graduate School of Public Service, our student body consists primarily of future managers and policy makers for the government or public, health care, and not-for-profit sectors. We had great difficulty finding one text that could provide an adequate, and relevant, foundation in accounting and finance for this group. After many years of searching for an adequate solution, the finance faculty of the school finally decided we needed to develop our own text, and somehow I was elected to write it.
It turns out that the need for a solid, clearly written text for the public sector was not limited to the Wagner School. The text has been widely adopted in both schools of public administration and business schools.The text is accompanied by an online instructor's manual, including solutions to all homework problems, and Power Point lecture notes. Student resources are also available online. The online materials may be found at www.prehall.com/finkler.
Errata for Text, Instructor's Manual, and Class Notes
Text
Page 68. Third paragraph of the Summary section. The last two sentences should be one sentence. Replace "year. The" with "year, the". Thanks to Jeremy Fraissinet who reported this error.
Page 166, change the denominator of the fraction from "$18.55" to "$18.45". Thanks to Weiping Ang who reported this error.
Page 183, four lines from the bottom,
"= FV(D5,D6,-D4)"
should be:
"= FV(D5,D6, ,-D4)"
That is, a placeholder comma for the PMT spot in the equation was dropped in error. Thanks to Jeremy Fraissinet who reported this error.
Page 193, the set of numbers after the second paragraph: the number under year 2 should be $1,100, not $1,000. Thanks to Eric S Friedman who reported this error.
Page 199, eight lines from the bottom, insert a comma after the word "face". Thanks to Ryan Anthony Greene who reported this error.
Page 201, six lines from the bottom of the page, ignoring the footnote, change "them" to "than". Thanks to Sibernie Dalloo who reported this error.
Page 214.
discount. remove the word "than" from the last line of the definition.
premium. remove the word "than" from the last line of the definition. Thanks to Giuliano Bosi who found these errors.
Page 220, the last line of Footnote 16. Change "Appendix 9-A" to "Appendix 9-B". Thanks to Olti Zejnati who reported this error.
Page 248, the paragraph starting "U.S. notes", second line of the paragraph, remove 'of' at end of line. Thanks to Giuliano Bosi who reported this.
Page 285. Near the bottom of the page, under the "VQA Budget versus Actual" heading, on the right hand side of the page, in the line just above "Price Variance = $7,200 F" change "$37,000" to "$37,800". Thanks to Nino DePaola who reported this error.
Page 304. Question 7-23, sixth line, "As an analyst at OMB, you have been explain the variance." Insert "asked to". It should read "As an analyst at OMB, you have been asked to explain the variance." Thanks to Janelle Lewis who reported this error.
Please report any additional errata to steven.finkler@nyu.edu
Instructor’s Manual Solutions
No errata have been found in the second edition as of December 20, 2004. Please report errata to steven.finkler@nyu.edu
Class Notes
Chapter 2, Power Point slide 12, under Cash Collection for Fourth Quarter, State lines, reverse the $7,500 and the 5,000. That is, the first line should be $5,000, and the second line should be 7,500. Alternatively, switch the 2nd Qtr. and 3rd Qtr. on those lines.
Chapter 9, Power Point slide 32, last line on slide. Under the "Cash" heading change "$2,000" to $12,000".
Chapter 9, Power Point slide 36, in the Inventory column and the Pay for Inventory line, remove the "3,000".
Please report any additional errata to steven.finkler@nyu.edu