Steps in the operating budget process

Reference no: EM13753681

1. Discuss the most important steps in the operating budget process. Why are these more important than the other steps?

2. Which is better the top-down budgeting process or the bottom-up methods? Why?

3. Compare the difference between an operating budget, a capital budget, and a cash budget. What are the primary elements in each budget?

4. Compare bottom-line financial results of using a fixed budget and a flexible budget if volumes (a) increase by 10% or (b) decrease by 10%.

5. Debate the differences between an alert-based decision support management accountability budgeting, monitoring, and reporting system and a standard reporting system that does not provide instant management information to the decision makers.

6. What is meant by the production frontier of a system? Provide a specific medical example of this concept. How do production frontiers impact the management of medical systems?

7. What is the formula for total costs of a particular service or system? Relate this formula to the management of medical systems, providing at least two specific examples of applications.

8. What is queuing theory? How does it relate to the analysis of waiting lines in a healthcare setting? Provide at least two specific medical examples for applications of queuing theory.

9. Americans hate to wait in line. As a healthcare leader, how will you know if your patients are waiting too long, and how will you know that this is actually affecting your business? What steps can you take to minimize waiting time in your healthcare facility?

10. Describe balking, reneging, batching, and jockeying in the analysis of waiting lines. Discuss at least one medical example of each.

Reference no: EM13753681

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