Budget Development Overview If your organization makes frequent business transactions one of the tasks you face as a manager is

Budget Development
If your organization makes frequent business transactions, one of
the tasks you face as a manager is budget preparation. A budget is a
tool used for planning and controlling financial resources. It guides
your future plan of action in financial terms within a set period of
time. A budget does not have to be complex; however, it should support
the organizations strategic plan. We will need resources to achieve our
goals and objectives.
For this assignment, you will focus on the operating budget. An
operating budget shows the companys projected revenue and associated
expenses for an upcoming period—usually the next year. An operating
budget starts with revenue and then shows each expense type. This
includes variable costs—or the costs that vary with sales—such
as the cost of raw materials and production labor. The operating budget
includes fixed costs, such as the monthly rent on office space or the
monthly payment for a photocopier lease. The budget also includes
operating expenses, such as interest on business loans, and the noncash
expense of depreciation. These items enable the company to compute its
projected net income and net profit percentage.
Imagine you are the health care administrator for a nonprofit
clinic, home health agency, or outpatient surgery center. Your first
task is to locate the strategic plan for that organization or determine
its strategic direction through the vision statement, mission or purpose
statement, and strategic priorities or goals. You will also need the
audited financial statements for the organization.
Using the information from your research, develop a one-year
operating budget for the chosen entity, which will include operating
revenues and expenses. Include a 1–2 page document to justify the
approach you use in constructing the operating budget with the strategic
plan or strategic direction.
Upload the strategic plan or strategic direction and audited financial statements as an attachment or include the Web link.
Complete your operating budget using Excel.
Support your work with at least three quality references, one
being your course textbook. These should be cited per the Strayer
Writing Standards.
This course requires the use of Strayer Writing Standards. For
assistance and information, please refer to the Strayer Writing
Standards link in the left-hand menu of your course. Check with your
professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
Develop a budget for a department within a healthcare organization.

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