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LIS328Education2 Unitsintermediate

Financial Management in Library & Information Services

This course explores financial management principles within library and information services. It examines the concepts of finance and management, highlighting their importance in both public and private organizations. Students will learn about sourcing funds, budgeting, managing income and expenditure, and risk management strategies specific to libraries and information centers. The course aims to equip students with the knowledge and skills necessary for effective financial planning and decision-making in library settings.

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65h
Study Time
13
Weeks
5h
Per Week
basic
Math Level
Course Keywords
Financial ManagementLibrary BudgetingRisk ManagementLibrary FundingInformation Services

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
➕
Math Level
Basic Math
🔬
Learning Type
Hands-on Practice

Course Topics

Key areas covered in this course

1

Financial Management Concepts

2

Library Funding Sources

3

Budgeting Principles

4

Risk Management Strategies

5

Enterprise Risk Management

6

Financial Planning in Libraries

Total Topics6 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Library Director

Apply your skills in this growing field

Financial Manager

Apply your skills in this growing field

Budget Analyst

Apply your skills in this growing field

Information Manager

Apply your skills in this growing field

Risk Manager

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

Academic LibrariesPublic LibrariesSpecial LibrariesNational LibrariesInformation Centers

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: Concepts and Essence of Financial Management in Libraries

2h

Unit 1: Concept of Finance and Concept of Management

2 study hours
  • •Define finance and management.
  • •Differentiate between private and public finance.
  • •Discuss the management cycle and its functions.
Week
2

Module 1: Concepts and Essence of Financial Management in Libraries

2h

Unit 2: Financial Management in Libraries, Principles or Rules Guiding Financial Management

2 study hours
  • •Explain financial management and its scope.
  • •Identify the four building blocks of financial management.
  • •Discuss the objectives and functions of financial management.
Week
3

Module 1: Concepts and Essence of Financial Management in Libraries

2h

Unit 3: Financial Management in Public and Private Organizations

2 study hours
  • •Define public and private organizations.
  • •Discuss financial management in both types of organizations.
  • •Differentiate between public and private sector financial management.
Week
4

Module 1: Concepts and Essence of Financial Management in Libraries

2h

Unit 4: Financial Management in Libraries and Information Science

2 study hours
  • •Explore financial management in libraries and information science.
  • •Relate financial management principles to library operations.
  • •Apply financial management concepts in library scenarios.
Week
5

Module 2: Library Funding and Expenditure

2h

Unit 1: Concept of Libraries and Types of Libraries

2 study hours
  • •Define the concept of libraries.
  • •Identify and describe different types of libraries.
  • •Explain the functions of each type of library.
Week
6

Module 2: Library Funding and Expenditure

2h

Unit 2: Budget and Budgeting

2 study hours
  • •Define budget and budgeting.
  • •Explain the purposes and classifications of budgets.
  • •Discuss the characteristics of a good budget.
Week
7

Module 2: Library Funding and Expenditure

2h

Unit 3: Sources of Funding Libraries

2 study hours
  • •Define funding and its importance.
  • •Identify various sources of funding for libraries.
  • •Explore strategies for securing funding.
Week
8

Module 2: Library Funding and Expenditure

2h

Unit 4: Challenges Associated with Sourcing of Funds for Libraries

2 study hours
  • •Identify challenges associated with sourcing funds.
  • •Discuss strategies to overcome funding challenges.
  • •Analyze real-world funding scenarios for libraries.
Week
9

Module 3: Risk Management in Libraries

2h

Unit 1: Risk Management in Library and Information Science

2 study hours
  • •Define risk and its components.
  • •Classify risks according to their consequences.
  • •Explain the concept of risk management.
Week
10

Module 3: Risk Management in Libraries

2h

Unit 2: Risks in Library and Information Science

2 study hours
  • •Identify common risks affecting libraries.
  • •Examine the effects of risks on library services.
  • •Discuss techniques to avert risks.
Week
11

Module 3: Risk Management in Libraries

2h

Unit 3: Risk Enterprise Management

2 study hours
  • •Define Enterprise Risk Management (ERM).
  • •Explain the ERM framework.
  • •Discuss the advantages and disadvantages of ERM.
Week
12

Module 1: Concepts and Essence of Financial Management in Libraries

3h

Final Revision

3 study hours
  • •Review all modules and units.
  • •Focus on key concepts and definitions.
  • •Prepare for assignments and assessments.
Week
13

Module 2: Library Funding and Expenditure

3h

Final Revision

3 study hours
  • •Complete assignments and assessments.
  • •Address any remaining questions or concerns.
  • •Prepare for the final examination.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review key definitions and concepts from each unit.

2

Practice budget creation and analysis using sample data.

3

Create risk assessment scenarios and develop mitigation plans.

4

Focus on understanding the differences between public and private sector financial management.

5

Study the Enterprise Risk Management framework and its application.

6

Use past TMA questions to practice and identify areas needing more attention.

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