HCS/577 DISCUSSION QUESTION - 26400

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Edwinesj
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Request Description

1) Consider your health care organization or another health care organization with which you are familiar. What are the steps to develop a budget in your organization?

 

2)    How does an individual department’s annual operating budget differ from that of the whole entity? How does the purpose and process of creating an operating budget differ from that of a capital budget?

Solution Description

Week 4

1-      Consider your health care organization or another health care organization with which you are familiar. What are the steps to develop a budget in your organization?

There are many steps to be taken in order to develop a budget in my organization. Before any steps can be taken, financial managers must determine what type of project the budget will be used for. For example bigger project might require bigger funding and may require higher level of management’s approval. According to Gapenski (2008), f