HCA270WK7DQ1 - by a budget You can tell if your plan is viable for planning for expansion by looking at the budget How can budgets get mismanaged

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Why budget is important? Every company’s financial success depends on its method of budgeting. An organizations budget functions like a map, captivating the goals and objectives and positioning them into the format of revenue and spending forecasts. The key tenacity of the method is allocation of resources. What the appropriate uses of budget? Budgets are like tools for tracking since it lets a reader see the company’s level of performance. Portions which require improvement will be distinguished effortlessly. Discerning divisions that are managed sound and others that are not also made effortless. Planning for the expenses and investments for the year is simplified by a budget. Allocation of money for like raises and profit sharing may as well be swayed
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Unformatted text preview: by a budget. You can tell if your plan is viable for planning for expansion by looking at the budget. How can budgets get mismanaged or misunderstood? If a department does not meet its budget; this can effect an organization. It is vital for staff to stay with the budget. If budgeting is observed wrong or misunderstood, this is where mismanagement comes in. Why do you think the text states that many health care organizations handle their budgets very poorly? Explain your answers. I believe that health care organizations handle their budgets poorly because; they do not take in account of their entire expenses and possibly the individual performing the budget does not truly recognize just how to do a budget particularly for a business....
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This note was uploaded on 07/23/2011 for the course HCA 270 taught by Professor Kulick during the Winter '10 term at University of Phoenix.

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