Order ready-to-submit essays. No Plagiarism Guarantee!
Note: All our papers are written from scratch by human writers to ensure authenticity and originality.
HCS 405 Week 2 Operating Budget Worksheet and Template
Check your essay before you submit. See exactly what your professor sees.
See your AI and plagiarism results before your instructor does.Get the exact same report your professor uses. Trusted by 50,000+ students worldwide.
Complete the Operating Budget Worksheet and Template.
Format your assignment according to APA guidelines.
Click the Assignment Files tab to submit your assignment.
Operating Budget Worksheet
Consider the following scenario:
Imagine you are a manager of a small health care facility and in charge of developing a projected annual operating budget.
Your budgetary figures are as follows:
For fiscal year 2015 and 2016 your clinic received $3 million from the government as fee-for-services reimbursements, as well as $1.1 million from private payers. The clinic has an annual fund-raiser that historically brings in $180,000 and a grants department that brings in $1.2 million annually.
Your chief financial officer (CFO) has provided you with the following annual expenses:
ABC Health Care Annual Expenses
Annual salaries $1.5 million
Annual benefits $ 240,000
Annual rent $ 960,000
Annual insurance $ 45,000
Annual depreciation $ 780,000
Annual overhead $ 180,000
Annual supplies $ 60,000
Using the ABC Health Care Operating Budget template, complete a 12-month operating budget in which you include the net profit (loss).
Write a 350- to 700-word executive summary that explains to the board of directors how you developed the budget and its importance.
Include the following in your summary:
Explain the process for creating an operating budget and its importance.
Explain how revenues and expenses are grouped for planning and control in the financial statements.
Explain the differences between cash and accrual financial systems.
Cite at least 2 sources, including your textbook.
Format your assignment according to APA guidelines.
Click the Assignment Files tab to submit your assignment.
