# Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable? Assignment: Budgeting and Variance Analysis

#### Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable? Assignment: Budgeting and Variance Analysis

Note: The Instructor will post the document for this Assignment by Day 1 of Week 9.
Budgeting is an important activity within every health care organization. The particular challenges encountered, however, can vary depending on the type of organization. A state or federally funded organization, for example, will likely have a budget that is allocated to it, and it needs to follow specific guidelines on how the money can be used. A for-profit organization, by contrast, will typically have more influence and flexibility in setting up its budget and making choices on matters such as how much to spend on marketing, patient care, or incentives for employees.
In addition to preparing budgets, as a health care administrator, you must also be able to evaluate whether or not you have achieved your budget using variance analysis. This is important because variance analysis measures the differences between the budget and actual results, and provides administrators with a starting point for correcting financial performance. For this Assignment, you conduct a variance analysis for a health care organization.
To prepare for this Assignment:
Review the Week 9 Assignment document provided to you by the Instructor. Examine the budgeted and actual revenues and expenses for a hospital. Reflect on concepts of budgeting and variance. Refer to Chapter 10 and Chapter 11 of Financial Management of Health Care Organizations: An Introduction to Fundamental Tools, Concepts and Applications in this week’s Learning Resources for additional guidance.
The Assignment:
Using the “Week 9 Assignment Budget and Variance Excel Template” address the following:
Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable?
Determine the total variance between the planned and actual budgets for Patient Days. Is the variance favorable or unfavorable?
Determine the service-related variance for Surgical Volume.
Determine the service-related variance for Patient Days.
Prepare a flexible budget estimate. Present a side-by-side budget, flexible budget estimate, and the actual Surgical Revenues.
Prepare a flexible budget estimate. Present a side-by-side budget, flexible budget estimate, and the actual Patient Expenses.
Determine what variances are due to change i

. .

The post Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable? Assignment: Budgeting and Variance Analysis appeared first on cheap nursing papers.

Did you know you can hire someone to answer this question? Yes, assignist.com is a hub of paper writers, dedicated to completing research and summaries, critical thinking tasks, essays, coursework, and other homework tasks. It is simple as ABC.

#### >>>ORDER NOW SECURELY–HIRE A PAPER WRITER<<<

Get 20% off your first purchase using coupon code GET20

X