Omparison of Two Types of Operational Budgets
In preparation for this homework assignment you may find it helpful to refer to Finkler, S. A., Koyner, C.T., & Jones, C.B. (2012). Financial management for nurse managers and executives (4th ed.). St. Louis, MO: Elsevier. Chapter 12.
This homework paper asks you to look to various budget methodologies. You are asked to focus your discussion on two types of operational budgets and then compare them to the identified criteria. Lastly, you are asked to present an example of how one budget type would be used by the masters prepared nurse leader in a health care setting of your choice.
Follow these instructions for writing your Comparison of Two Types of Operational Budgets homework paper. Keep the paper within a 5 page limit (excluding title page and reference list). Abstract page is not required for homework assignments.
Choose two types of operational budgets as outlined in your text book readings. ******* Please use this book as one of the resources**********Finkler, S. A., Koyner, C.T., & Jones, C.B. (2012). Financial management for nurse managers and executives (4th ed.). St. Louis, MO: Elsevier.
Describe the two chosen budget methodologies. Include enough detail for the reader to follow and understand the methodology.
Construct a chart and compare your chosen budget methodology in the following categories:
Advantages / disadvantages to the nurse leader in monitoring compliance
Operations best suited to each type of budget
Impact on the correlation to patient care
Ability to take variances into account
Choose one of the budget types you have described and present an example of how this budget type would be used by the masters prepared nurse leader in a health care setting of your choice. The setting can be a community or inpatient environment where you work, have worked, or would like to work as a masters prepared nurse leader.