Should the budget be zero-based or conventional

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Reference no: EM133463622

Assignment:

You are the CEO of Miami 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.

Create a memo as if you were writing to individuals that were new to these concepts.

Should the budget be zero-based or conventional?
Are you in favor of a top-down or bottom-up process?
Should the budget be fixed or flexible?
Explain the purpose of variance analysis to the Board members.
Explain to the Board members how planning and budgeting are linked.

Reference no: EM133463622

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