Creating, Choosing And Analyzing An Operating Budget

October 20, 2020

Part 1: 2010 Operating Budget

Review the attached 2009 Budget Issues – “Nursing Options” PDF

Create Two new 2010 Operating Budgets for 2010, one based on each labor decision option from the Nursing Statistics memo in the Nursing Options PDF. Adjust the attached “2010 Operating Budget Projection” word document to develop your new projected budgets. (should be 2 separate documents with the 2010 Budget column adjusted accordingly for each option)

Decide which of the two highlighted options (pink and yellow) you will implement from the Nursing Statistics Memo in the “Nursing Options” PDF.

Discuss decision-making processes in creating a budget.

Part 2: Analysis Paper

Write a 1,050- to 1,400-word paper. Your paper should:

1. Discuss decision-making processes in creating a budget.

2. Explain the role of variance analysis in maintaining an operating budget.

3. Differentiate between managerial accounting and financial management.

4. Explain generally accepted accounting principles applied to the health care industry and how they are applied to your Operating Budget Projection.

5. Discuss the decision between the two labor alternatives facing the management of PFCH and the annual cost increase of each.

6. Make a recommendation about which labor alternative should be chosen.

7. Justify and analyze the labor decision that you recommend. Your justification should present numbers related to fiscal management including how each decision affects the 2010 Budget Projection.

8. Analyze the effect of your decision on the operating budget, including:

A. The opportunity cost of your recommendation

B. How your recommendation affects employee satisfaction

C. How your recommendation affects patient care and patient satisfaction

Cite a minimum of 4 sources with academic or peer-reviewed sources to support your perspectives .

Format your paper and sources according to APA guidelines.

Grading Rubrics

Critical Elements

Distinguished

(100%)

Proficient

(85%)

Basic

(70%)

Below Expectations

(50%)

Non-Performance

(0%)

Thesis Statement

Raises the strongest objection to the thesis presented in the assignment. The objection is strongly grounded in research and logical reasoning.

Raises a plausible objection to the thesis presented in the assignment. The objection is mostly grounded in research and logical reasoning.

Raises an objection to the thesis presented in the assignment. The objection is somewhat grounded in research and logical reasoning.

Attempts to raise an objection to the thesis presented in the assignment. The objection is minimally grounded in research and logical reasoning.

The objection to the thesis is either nonexistent or lacks the components described in the assignment instructions.

Counter Argument

Provides a strong, thorough rebuttal to the objection. The rebuttal effectively demonstrates that the thesis can withstand the objection and applies the principles of charity and accuracy.

Provides a rebuttal to the objection. The rebuttal mostly demonstrates that the thesis can withstand the objection and mostly applies the principles of charity and accuracy.

Provides a limited rebuttal to the objection. The rebuttal somewhat demonstrates that the thesis can withstand the objection and somewhat applies the principles of charity and accuracy.

Attempts to provide a rebuttal to the objection; however, the rebuttal minimally demonstrates that the thesis can withstand the objection and does not apply the principles of charity and accuracy.

The rebuttal is either nonexistent or lacks the components described in the assignment instructions.

Conclusion

– Provides clear and concise closing remarks that comprehensively summarize the essay. The remarks consider the broader controversy and/or further research that could offer additional insight into the moral solution of the business problem.

Provides closing remarks that summarize the essay. The remarks mostly consider the broader controversy and/or further research that could offer additional insight into the moral solution of the business problem. The closing remarks are somewhat unclear.

Provides closing remarks that minimally summarizes the essay. The remarks minimally consider the broader controversy and/or further research that could offer additional insight into the moral solution of the business problems. The closing remarks are unclear and/or vague.

Attempts to provide closing remarks that summarize the essay, however, the remarks do not consider the broader controversy and/or further research that could offer additional insight into the moral solution of the business problem. The closing remarks are unclear and vague.

The closing remarks are either nonexistent or lack the components described in the assignment instructions.

Written Communication: Context of and Purpose for Writing

Demonstrates methodical application of organization and presentation of content. The purpose of the writing is evident and easy to understand. Summaries, quotes, and/or paraphrases fit naturally into the sentences and paragraphs. Paper flows smoothly.

Demonstrates sufficient application of organization and presentation of content. The purpose of the writing is, for the most part, clear and easy to understand. There are some problems with the blending of summaries, paraphrases, and quotes. Paper flows somewhat smoothly.

Demonstrates a limited understanding of organization and presentation of content in written work. The purpose of the writing is somewhat evident but may not be integrated throughout the assignment. There are many problems with the blending of summaries, paraphrases, and quotes. Paper does not flow smoothly in all sections.

Organization and presentation of content are extremely limited. The purpose of the writing is unclear. There is little or no blending of summaries, paraphrases, and quotes. Paper does not flow smoothly when read.