HCA 270 WEEK 7 DQ 2
HCA 270 WEEK 7 DQ 2
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This 0 page Study Guide was uploaded by Experthelper Notetaker on Thursday November 12, 2015. The Study Guide belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 13 views.
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Date Created: 11/12/15
what do you think are some of the more important components of a budget I think costs output and supplemental to a budget The most important required information is predicted costs Sometimes this type of information is required in great detail Management usually wants to track costs and profitability Outputs are ultimately related directly to revenue and supplemental information may include assumptions used when creating the budget What are some criteria you would use to choose between a fixed and a exible budget A fixed budget has one operating level and includes all criteria of quotanticipatedquot revenues and costs where a exible budget quotallowsquot evaluations of anticipated costs Flexible budgets include both fixed and variable elements Flexible budgets do not really allow quotlatitudequot in cost but instead make cost a function of revenues and levels achieved A exible budget can be prepared for an entire healthcare facility Why do you think the use of zerobased budgeting remains uncommon Zero based budgeting is a financial management strategy to help achieve a more costeffective delivery of public services Under zerobased budgeting a budget starts at zero and adds the amount the agency needs to carry out its operations and duties It also includes an itemized justification question like What would happen if X program were not provided or Are there other less and more effective ways to achieving these options Another important thing zerobased budgeting does is to help root out waste fraud and abuse In some ways zerobudgeting would seem to be the best way but it also seems like a plan for politicians instead of patients
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