With the current pressures for increased accountability and improved productivity, financial management in the study of higher education has become increasingly important. This study examined whether the "how" or the "why" of management were more important to prospective budget administrators. The study hypothesized that an emphasis on the "why" of budget management would better prepare administrators for the increasingly dynamic world of higher education finance. The study used a review of the literature related to teaching budget management and a survey of faculty teaching financial management in 76 higher education programs. Participants were also asked to share copies of their course syllabi with the study. A total of 56 responses were received along with 42 course syllabi. Some findings included the following: (1) only 24 programs required students to take budget management; (2) the top rated subject within courses was the role of the state in financing higher education followed by financial planning; (3) fully two-thirds of the courses had content that balanced the philosophical underpinnings of finance of higher education and the budget planning and management function; and (4) the subject of budget management and finance appeared to be more topical than conceptual and required a wide cross-section of articles and texts. The paper concludes with a discussion of and recommendations regarding instruction in higher education financial management. (Contains 20 references.) (JB)