Explain variance analysis and describe how it would likely

Reference no: EM13476004

Reflect on the types of budgets you have created, whether for your personal finances or in a professional role. How did the budgets help you (or your department) plan for the future? What insights did the actual results provide about the budgeting process?

Budgeting is an important activity within any health care organization. The particular challenges encountered, however, can vary depending on the type of organization. A state or federally funded organization, for example, will likely have a budget that is allocated to it, and it needs to follow specific guidelines on how the money can be used. A for-profit organization, by contrast, will typically have more influence and flexibility in setting up its budget and making choices on matters such as how much to spend on marketing, patient care, or incentives for employees.

Variance analysis relates to the difference between what was projected in a budget and what the actual results were, and helps managers identify the sources of such differences.

Question:

• Describe one or more key dimensions along which health care organizations vary with regard to budgeting.

• Identify a health care organization with which you are familiar, and indicate whether it is for-profit, not-for-profit, state, federal, or military. Discuss the purpose of budgeting in your selected health care organization. Why is this important to this particular health care organization?

• Briefly define variance analysis and explain how it would likely be used by the management in this organization. Provide an example (actual or hypothetical) of how it might subdivide variances.

Reference no: EM13476004

Questions Cloud

The stigma associated with mental illness prevents many : the stigma associated with mental illness prevents many people with these disorders from seeking treatment. what do

Discuss how fitzgerald connects minnesota seasons and : discuss how fitzgerald connects minnesota seasons and weather with ideas of youth and love in the scandal detectives

Make a full-page print advertisement that challenges or : make a full-page print advertisement that challenges or disagrees with your original print ad. try to communicate the

Review the critical analysis questions in the conclusion : review the critical analysis questions in the conclusion and critics resource section of your textbook. write an eight

Explain variance analysis and describe how it would likely : reflect on the types of budgets you have created whether for your personal finances or in a professional role. how did

Analyze selected business situations using the predominant : imagine that you are a member of an ethics committee listening to arguments for and against altering the way in which

Choose one character from the film shawshank redemption and : choose one character from the film shawshank redemption and create a visual diagram of some kind collage flow chart etc

Describe the reasoning write down two techniques which you : corporations often use different costs of capital for different operating divisions. using an example calculate the

The policy should address security issues privacy issues : write a procedural email to employees reminding them of key components of a company policy on acceptable use of email

User Account

All Pages