Should the budget be zero-based or conventional

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Reference no: EM133463607

Assignment:

You are the CEO of Highpark Medical Center and are reviewing the planning and budgeting process for the next fiscal year with the Finance Committee of the Board of Directors (BoD). They want to change the process and are considering options. They have requested that you review the following options and provide them with a written response in the form of a memo.

Question:

1. Should the budget be zero-based or conventional? Why?

2. Are you in favor of a top-down or bottom-up process? Why?

3. Should the budget be fixed or flexible? Why?

4. Explain the purpose of variance analysis to the Board members. Why?

5. Explain to the Board members how planning and budgeting are linked. Why?

Reference no: EM133463607

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