Term Paper on "Budgets"
Term Paper 5 pages (1553 words) Sources: 4
[EXCERPT] . . . .
This technique is easy as long as the business has been running for a few years. There is ample data from which to extrapolate trends using regression analysis for example. When the trends are known, the budget can be created.Engineered standards are developed with the assistance of internal staff (Cleverley, 2011) or outside consultants. This method involves exhaustive study and defining standards that are intended to be realistic based on analysis of things like the nature of the job. These standards can be frustrating for some positions, but in health care engineered standards are not a bad thing at all, because it is necessary to analyze the physical and mental nature of a given task to understand how long the task takes to complete.
Lastly, comparative group standards can be used. This is perhaps best when the company is new and does not have internal standards with which to work. These standards are often available in the health care industry, however, as there is a high degree of comparability across organizations in the industry. Even where there are internal standards, it is sometimes beneficial to compare the two group standards to ensure that the company itself is operating within industry norms.
Appendix A: Variance Chart
Budget Variance
Orthopedic Unit
Samaritan Medical Center
Item
Budgeted
Actual
Variance
Salaries
$362,757
$541,122
($178,365)
Med Supplies Sold
download full paper ⤓
$757
$743
Reagents
$6,480
$2,695
$3,785
Medical Care Supplies
$104,573
$31,860
$72,713
Floor Stock Non-Chargeable
$1,184
$298
$886
Patient Census
12/day
16.3/day
4.3/day
References
Cleverley, W., Song, P.… READ MORE
Quoted Instructions for "Budgets" Assignment:
“Write a 1,200- to 1,500-word paper, which includes a cost variance, in which you complete the following:
Determine specific strategies to manage budgets within forecasts.
Compare five to seven expense results with budget expectations, and describe possible reasons for variance.
Recommend three bench marking techniques and identify those that might improve budget accuracy in future forecasts. Justify your choices. *****
How to Reference "Budgets" Term Paper in a Bibliography
“Budgets.” A1-TermPaper.com, 2013, https://www.a1-termpaper.com/topics/essay/budgets-number-different/6482992. Accessed 5 Oct 2024.
Related Term Papers:
Accounting Congo Limited Budget (in 1000's) Cash Term Paper
Accounting
Congo Limited Budget (in 1000's)
Cash Balance from prev. month
Cash Sales
Credit Sales
Purchase for resale
Salaries and Wages (PAID in the MONTH EARNED)
Overhead Expense (PAID in… read more
Term Paper 5 pages (1426 words) Sources: 4 Topic: Business / Corporations / E-commerce
Public Budgeting A-Level Coursework
Public Budgeting
Over the last several years, the issue of public budgeting has been increasingly brought to the forefront for all levels of government. The main reason is because of… read more
A-Level Coursework 10 pages (2684 words) Sources: 5 Topic: Economics / Finance / Banking
Budget Assessment Assessment
Los Angeles Budget Assessment
L.A. Budget Assessment
The author of this report has been asked to offer a budget assessment for a city of the author's preference and the author… read more
Assessment 9 pages (2822 words) Sources: 5 Topic: Economics / Finance / Banking
Public Budgeting Essay
Public Budgeting
There have been a number of proposals put forth to deal with the different issues in the federal budget. As one of the largest components of the federal… read more
Essay 3 pages (828 words) Sources: 3 Topic: Economics / Finance / Banking
Victoria Chemicals Is Considering a Plan Case Study
Victoria Chemicals is considering a plan to modernize its Merseyside plant, which was built in 1967 and is more labour-intensive and therefore costlier to run than the plants of competitors.… read more
Case Study 7 pages (2051 words) Sources: 4 Topic: Business / Corporations / E-commerce
Sat, Oct 5, 2024
If you don't see the paper you need, we will write it for you!
We can write a new, 100% unique paper!