In preparation for this assignment you may find it helpful to refer to Finkler, S. A., Koyner, C.T., & Jones, C.B. (2012). Financial management for nurse managers and executives (4th ed.). St. Louis, MO: Elsevier. Chapter 12.
This assignment asks you to look at two budget methodologies. You are asked to focus your discussion on two types of operational budgets and then compare them to the identified criteria. Lastly, you are asked to present an example of how one budget type would be used by the masters prepared nurse leader in a health care setting of your choice.
Follow these instructions for writing your Comparison of Two Types of Operational Budgets paper. Keep the paper within a 6 page limit (excluding title page and reference list). An abstract page is not required for this assignment.
Budget Types/Methodologies (20%)
A. Compare the fixed operating budget approach to the flexible operating budget approach as outlined in your text book readings. Finkler, S. A., Koyner, C.T., & Jones, C.B. (2012). Financial management for nurse managers and executives (4th ed.). St. Louis, MO: Elsevier.
B. Describe these two budget methodologies.
C. Include enough detail for the reader to follow and understand the methodology.
Chart
Construct a chart and compare your chosen budget methodology in the following categories: 40%
A. Advantages / disadvantages to the nurse leader in monitoring compliance
B. Operations best suited to each type of budget
C. Impact on the correlation to patient care
D. Ability to take variances into account
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