Vandament

Vandament's work is meant being an introductory text for individuals administrators who don't have a strong background in firm or finance, but who are faced with fiscal responsibility within an institution of greater learning. The author's assumption is that increasing numbers of nonfinancially trained administrators, faculty and others are responsible for creating financial decisions, usually on a suggestions of financial professionals, and that without the need of some rudimentary understanding of financial concepts, these administrators seriously isn't in a position to make wise decisions (Vandament, 1989, p. xiv).

Vandament takes a logical approach towards the dilemma of financial management in greater education, commencing very first with an overview in the financial environment exactly where institutions of greater learning function, after which narrowing his focus to include the many financial functions which are performed at institutions, and which administrators can expect to come upon in the course of their duties. This method provides background material which can aid the reader additional readily identify in the concepts presented later in the book, and provides a sense of familiarity to readers who might otherwise be put off by the technical discussions which follow.

Readers who have a strong financial background are likely being disappointed by this work which may be too simplistic for them. For the vast majority of nonfinancial method administrators, however, the book provides fascinating details presented inside a format which is simple to follow and understand. The inclusion of case studies demonstrating how other institutions have failed at specific tasks reinforces the value from the material, and also reassures the reader that mistakes is also made in this area with out destroying an institution. The overall firm in the book, the step by step technique which Vandament uses in developing the financial plan, and the proactive philosophy which permeates the material creates this book valuable for most process administrators. This book may be even additional essential these days than when it was written since several institutions are under elevated financial pressure to retain costs down and make maximum use of obtainable resources. Vandament offers suggestions in this area which may perhaps assist administrators via difficult financial times.

Vandament's overall treatment on the subject, which includes taking a step-by-step process to financial planning, provides the reader using a logical procedure by which financial planning during the academic environment can be understood. In quite a few cases, Vandament has provided tools and examples (such as flow charts) which aid the presentation of material which may possibly otherwise be tough to understand. Vandament also has a philosophy that is much more proactive than numerous analysts in this field, and this separates the jobs from other writings on financial planning in greater education.

 

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