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Discuss nature and use of budgets for management control

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Reference no: EM132977425

You have just started as an entry-level accountant in your small 20-bed hospital. You need to get the buy-in of your board to agree to a project to help your organization stay on the cutting edge; however, they do not understand the concept of budgeting. You are asked to make a presentation to the board to explain the budgeting process. Included in that presentation you must create a spreadsheet delineating the components of a hospital budget. First, discuss the nature and use of budgets for management control and the budgeting process. Next, prepare a budgeted income statement with hypothetical numbers for illustration purposes.

Reference no: EM132977425

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