[SOLVED] financial management and Budgeting

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[SOLVED] financial management and Budgeting
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This assignment is intended to help you learn to analyze an organization’s revenues and expenses applying the accrual basis of accounting.

OVERVIEW

Analyzing revenues and expenses and being able to make decisions based on your analysis is an essential skill for a manager. This assignment, based on the Denison Hospital Extended Problem, requires you to apply knowledge gained from the required reading to create a revenue budget, different versions of expense budgets, and an operating budget for the hospital. You will then be able to use the information you gain from your analysis to:

  • Identify assumptions made in the case.
  • Understand how to facilitate different types of decision making and accountability.
  • Apply information gained to manage an organization.
  • Assess the importance of an operating budget.
  • Recognize the impact of capital expenses on an operating budget.

Step 1

  • Create spreadsheets that address the requirements detailed in the Denison problem, for the following Sections and Questions only:
    • Part 1: Complete Sections A and B (Begins in the textbook on page 76) – Use this template for Part 1.
    • Part 2: (Begins in the textbook on page 107) – Use this template for Part 2.
      • Section C: Complete Question 2 Only
      • Complete Section D.
    • This will result in the creation of multiple budgets for the hospital.

    Note: When you enter your calculations into your spreadsheet, you must use formulas. For example, do not simply use your calculator and then enter the numbers.

Step 2

  • Write a 5 to 7 page analytical paper that includes citations from your textbook and references to the spreadsheets you just created (as appropriate).
  • Your paper is to include the following substantive elements:
    • An introduction that gets the reader’s attention, explains why the reader should care about or be interested in reading your paper, provides any necessary context or background for the body of the paper, briefly previews what will be addressed in the paper and the key conclusion, thesis, or purpose of the paper.
    • The body of the paper is to include
      • A brief explanation of each budget type in terms of what it shows, key assumption(s) underlying the budget, and why it is important to understand what the key assumptions are.
      • Discussion of how the different budget types (e.g., line item, program, flexible) facilitate different types of decision making and accountability.
      • Although you were not required to develop a cash or cash-flow budget for Denison Hospital, discuss why a cash or cash-flow budget is important to develop when managing an organization.
      • Identify an example of a capital purchase that Denison Hospital could make, explain why it is a capital item, and why it would be helpful to plan for its acquisition in a separate capital budget. Discuss how the acquisition of the capital item would affect the operating budget.
      • Describe the three most important reasons understanding the operating budget and the different types of costs of an organization helps you to better manage and lead the organization toward advancing its mission and goals. At least one of your reasons must address the importance of understanding costs.
    • A conclusion that synthesizes, summarizes, extends, explains, or otherwise wraps up what was presented in the body of the paper and connects back to the introduction. For this paper, a key focus should be explaining or summarizing the practical relevance of what was presented in the body.
    • A reference page
    • Appendices (spreadsheets): At least, your spreadsheets are to be included in the appendix of your paper.

    Note: Your paper should follow APA citation, referencing, and formatting requirements, including a title page, running head, and page numbers.

  • This assignment must be submitted to Turnitin. Read the details about it in About Turnitin. Review the originality reports you receive from Turnitin. If your report states that more than 24% of your document is not original thought, consider whether you need to rework your paper so that it is written in your own words. Make any other revisions necessary based on the originality report (e.g., include citations) and the GradeMark report.
  • Include the spreadsheets you created in Step 1 as appendices. Place any other supportive information you choose to include in the appendix.

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