Operating Budget of Patton Fuller Community Hospital, 2010

C. It looks like the increased demand for oil is only going to continue, which, in turn, will make gas prices go higher.

This research paper is a brief discussion of budget management analysis. Budgeting is the key to financial management, and is the key to translates an organization goals or plan into money. Budgeting is a rough estimate of how much a company will need to get their work done, and provides the basis for evaluating performance, a source of motivation, coordinating business activities, a tool for management communication and instructions to employees. Without a budget an organization would be like a driver, driving blinded without instructions or any sense of direction, that’s how important a budget is to every organization and individual likewise (Clark, 2005).

The manager must remember that the budget is completed with a goal in mind. All employees should be aware of the budget and how it ties to the ultimate goals or plans for that department (Walsh, 2016). This budget should have a strategy and effectively communicate the department goals. The manager should take the long-range plan to build the annual budget with this plan in mind (Finkler, 2017).

A budget is essential for a company to succeed. Without these budgets, it is very hard to be able to see where all

Budgeting systems turn managers’ perspectives forward and by looking to the future and planning, managers are able to anticipate and correct potential problems before they arise (Horngren, Foster & Datar, 2000). Through budgeting, management can plan ahead and maintain enough cash to pay creditors, to have adequate raw materials to meet production requirements, and to have sufficient finished goods to meet expected sales (Kieso, 2002).

Highlighted below is Patton-Fuller Hospital's statement of revenue and expenses showing the income earning trends between 2009 and 2010. Succeeding the statement of revenue and expenses it the balance sheet for the two years showing changes experienced.

While making a budget, manager should recognized and manage the risk in budget in order to avoid future

12. Take a look at the exhibit above. If the firm maximizes profit, what will be the firm 's total profit?

In this week’s assignment paper, I am a manager of a property management and I am to draft a memo to my employees to hand in a projected budget for the upcoming year. A budget is a "financial plan to control future operations and results", to improve future performances and attain a profit goal (Shim & Siegel, 2011). In order to create a great budget and get the best results you must eliminate budget weaknesses such as unrealistic figures and different methods of preparing budget (Shim & Siegel, 2011).

Budgeting in a business is important for so many reasons. Business leaders often deal with large amounts of money, and some employees or outsiders might see the organization's revenue as nearly limitless. Regardless of the business cash on hand, though, careful budgeting plays a critical role in any organization's success. Chester & Wayne is a large regional food distribution company and the CEO of the company has asked for some assistance in preparing a budget for their cash flow. With the information provided by CEO, Mr. Wayne, the budget will be carefully planned.

In a lot of organisations budgets are generally drafted from the ‘top- down’ and then passed down for comments, negotiation and agreement but generally it is believed that the more managers have full involvement in preparing their own budgets the greater their commitment to achieving them.

Mandating nurse-to-patient staffing ratios may not be the best idea because there is “little evidence that specific nurse-to-patient staffing ratios improve safety or quality” (Welton, 2007, p. 4). Legislation “points to research indicating an association between nurse workload and patient mortality and morbidity” according to a study from 2002 (Welton, 2007, p. 4). The study showed that for every “additional patient a nurse was assigned, there was a seven percent increase in the likelihood of dying got a patient under that nurse’s care” (Welton, 2007, p. 4). On the contrary, the studies that the legislation points to have “several weaknesses”; like how it was only implemented at two hospitals and was done in the 1990s, thus, it is outdated information (Welton, 2007, p. 4). The American Organization of Nurse Executives believed that mandating nurse-to-patient staffing ratios is causing more harm to the health industry because it is “reducing scheduling and staffing flexibility” (Welton, 2007, p. 5). The patient load and acuity is not the same every day; consequently, there needs to be flexibly schedules to be financially appropriate and beneficial to the patient. If you are overstaffed on nurses then the unit is losing more money, because they are paying for nurses to sit around. For example, when a unit is low acuity patients they do not need as many nurses, thus, they may send nurses home; same goes for high acuity patient

Term A budget can be a means of communicating a company 's objectives to external parties. (T/F)

A budget is a financial document that contains a detailed plan in writing (usually in monetary form) expressing the expected financial implications of the various management strategies for attaining the organization’s primary goals and objectives in the coming financial period (Clowes, & Scriven, 2015). A budget is a very important tool for any given organization. By enabling the organization to create a spending plan for its finances, the budget ensures that the company will be able to meet all its important obligations. Given the importance of the budget, significant effort and

Even though the claim in the question is against traditional budgeting there are some strengths in which it can fall back on. The main reason for a budget is its idea to think towards the future, setting clear goals and possibly providing motivation for workers of a company to strive towards a sustainable future. The main planning characteristic of a budget is when managers propose a plan of action taking into consideration business prospects, resource constrains and risk, (Merchant, 2012).