Explain the concept of variance

Assignment Help Other Subject

Reference no: EM132412662

Assignment: To prepare for this Application Assignment, review the Northeast Health System 2011 Annual Report. As you review, analyze the concept of variance. Consider what factors influence variance and how organizations control these factors in a real world setting. Analyze how the economic environment in which the organization operates influences the means of adjusting expenditures to meet financial goals.

To complete this Application Assignment, you will calculate: 1) the variance for selected items from the annual report and 2) the percentage that each expense item contributes to the overall expenses. Next, you will write a 2- to 3-page paper that explains how the variance and expense percentage calculations are used to monitor and control the budget.

You will submit both the excel spreadsheet and the 2- to 3-page paper as follows:

1. Using the provided Excel spreadsheet, calculate the variances for each line item under the tab labeled "Variances." A guideline for calculating the variances is located in the Weekly Resources.

2. Using the provided Excel spreadsheet, calculate the expense proportion of each line item under the tab labeled "Proportional Allocations."

3. After completing the spreadsheet, please address the following in a 2- to 3-page paper. The first paragraph should address the first two elements. The bulk of the paper should address the remaining elements.

• Explain the concept of variance. Cite your sources.

• Briefly describe the Northeast Health System from the information found in the annual report.

• Summarize the key variances (positive or negative) you uncovered during your analysis (data only). Focus on the most significant variance items.

• Summarize the key findings from your proportional allocation analysis. Focus on the most significant proportions.

• What observations can you make about the Northeast Health System based on the variances and proportional allocations that you calculated?

• What do you believe led to the variances you identified?

• Since certain line items in a budget are more controllable than others, what actions might you recommend to the Northeast Health System to either decrease or increase their significant variances and proportional allocations?

Your written assignments must follow APA guidelines. Be sure to support your work with specific citations from this week's Learning Resources and additional scholarly sources as appropriate. Refer to the Essential Guide to APA Style for Walden Students to ensure your in-text citations and reference list are correct.

Reference no: EM132412662

Questions Cloud

To what extent is oedipus architect of his own misfortunes : Write a two page paper addressing the following questions: "Is Oedipus a hero? Why or why not? To what extent is Oedipus the architect of his own misfortunes?

Describe the potential role that dna bending protein : Briefly describe the potential role that DNA bending protein and mediator proteins play in regulation.

Describe connections between multiple species : Describe connections between multiple species that interact in an ecosystem predict the impact species will have directly and indirectly on each other

What is the advantage of consuming organic food : What is the advantage of consuming organic food? What harm may come from eating non-organic food?

Explain the concept of variance : To prepare for this Application Assignment, review the Northeast Health System 2011 Annual Report. As you review, analyze the concept of variance.

Describe 3 different ways that rna has maintained : A "middle man" is something that takes something and intervenes in it being transferred or transformed into something else. Describe 3 different ways that RNA

ISB 202 Applications of Environment and Organismal Biology : ISB 202 Applications of Environment and Organismal Biology Assignment Help and Solution, Michigan State University, USA.

Give some possible treatments for diagnosis : He is also experiencing night sweats. What is a possible diagnosis? Give some possible treatments for this diagnosis?

Briefly describe the situation and then discuss the results : What happened when a manager used good strategy in your organization? Briefly describe the situation, and then discuss the results.

User Account

All Pages