Budget Case Study

1043 words - 5 pages

Fiscal Concerns Case Study: Unit Budget Analysis
Mindy Cashman
Thomas Edison State College

A budget is the most basic financial document needed to manage and plan for income and expenses throughout the year. The process of planning the budget is an ongoing process that requires adjustments throughout the year as needed to meet the goals of the organization it supports. When preparing a budget for an acute care unit in a hospital, there are many different reasons that the budget needs to be adjusted in order to meet the needs of the staff, patients and organization. This case study looks at the budget of a cardiac care unit with a variable budget. Several different factors ...view middle of the document...

The increased acuity must be presented to support the need for extra staff. Once patient acuity is determined, the nursing hours per patient day can be calculated to justify the additional FTE’s needed per shift (Kirby & Wiczai, 1985).
The risk manager is requesting new smart pumps that calculate and manage high risk medications. New JCAHO safety standards require them. In the current fiscal year, all of the money allocated for equipment has been spent. According to Yoder-Wise, expenses that are related to major capital items such as equipment and structure are related to the capital expenditure budget. Since these smart pumps are needed to meet JCAHO safety standards, they are going to need to be purchased for use throughout the hospital, so they should be provided under the capital expenditure budget. Capital expenses are kept separate from operating expenses because the high cost included into the operating budget would make the price of delivering care to expensive. Before approaching administration to request the new pumps, well-documented justifications are needed. Since these pumps are needed to be compliant with JCAHO safety standards, and there is a sale currently being offered for the pumps, the organization should provide them for the unit under their capital expenditure budget.
There is a rising rate of infection on the unit, and a representative has suggested new soap dispensers be placed outside each room. The dispensers will cost $2000, and come with a four-month trial. There is $2500 left in the supply budget for the month. This expense would nearly deplete that, leaving not much left for other supplies needed to care for patients. This is an expense that needs to be deferred to the next fiscal year.
Nurses are requesting a new nursing medication web subscription for the unit that will cost $100 a month. This is an expense that I would also defer the next fiscal year. There is $400 remaining in the education budget, but I feel that is money that needs to be reallocated elsewhere. The smart pumps should provide the...

Other Papers Like Budget Case Study

Ma- Sales Budget Essay

1306 words - 6 pages Sales Budget Victoria MA’s Secret focus on two kinds of customers which are youthful girls- active, colorful, fresh and mature women- charming, successful, fashionable with 12 stores around Vietnam and online shopping model selling lingeries, bikinis and other underwears. V-MA-S is growing and is making significant long-term investments in order to ensure sustainable development. Our objective is always to exceed our customers’ expectations

Biden Reports Progress On Budget Deal

478 words - 2 pages This article is about the budget deal that’s currently being debated about that would cut federal spending by as much as 33 billion dollars and dodge a government shutdown. As of right now, there is a difference in what should be included in it and not included in the budget. If the deal were to be approved, the deal would be the largest single year budget cut in U.S. history. The government would be funded through the current fiscal year, which

Assignment 4 Fiscal Budget Project Analysis

291 words - 2 pages November 18, 2012 PAD 500 Inez Blair Assignment 3 The payback period for Option A is 7.9 years, well over the critical acceptance level of 2.75 years. The payback period for Option B is 5 years, which is a somewhat closer to the critical acceptance level. The net present value for Option A is $2,115,031.84 and the net value for Option B is $2,987,257.56. The internal rate of return for Project A is 24% while the internal rate of return

Analyse The Reasons Why Costs Need To Be Controlled To Budget

1318 words - 6 pages Unit 5 Introduction to Accounting D1 L & S Ltd When experiencing cash flow problems there are a few recommendations to make, these problems include: • Being overdrawn on consecutive months. • Having too much money • Difficulty in predicting costs When being overdrawn on consecutive months you should look to cut back on immediate expenses such as insurance, suppliers, rent and employees. You could also increase product

Volkswagan In America - Managing It Priorities

596 words - 3 pages Case Study 1: Volkswagen in America – Managing IT Priorities INTRODUCTION This report identifies problems and recommends effective solution to CIO of VWoA Dr. Matulovic regarding the new priority management system for approving important IT project and also making right decision in spending IT project budget. IMPACTS OF INSUFFICIENT FUNDS * Estimated project budget was $170 Million but the parent organisation allocated only $60 Million

Guillermo Furniture Store Analyis

671 words - 3 pages Guillermo Furniture Store Case Study The aim of this paper is to examine the Guillermo Furniture case study. It begins with a description of the store, the current market challenges it faces, and the options that its owner, Guillermo Navallez, has in meeting those challenges. It then explores these options in the context of the business’ budget, performance reports and accounting information, as well as from an ethical perspective. Located

Magnolia Therapuetic Solutions Case Study

838 words - 4 pages Magnolia Therapeutic Solutions Case Study After reviewing over the case study of the Magnolia Therapeutic Solutions, I am not in agreement with the decision that was put forth by the board of directors. The decision of the board of directors was put into action solely on the increase services they were providing to the people who suffered from 9/11. I believe this decision not be a sufficient reason to increase the budget and ask for more grant

The Working Students And Their Academic Performance

982 words - 4 pages groups, in-depth interviews, observation research and case studies. The process on the other hand shows how the research being conducted through defining the problem/s of the research first and gather the required data relevant to the research from the respondents through answering the questionnaires. The output as a result, will indicate the general view of the situation on how the behavior and performance of a student relates on their study


1145 words - 5 pages Case  study:  Volkswagen   Alignment   of   IT   strategy   with   the   organization's   business   strategy   is   a   fundamental  principle  advocated  for  over  a  decade  (Luftman  2000).  From  1930s   the   first   Volkswagen   automobiles   was   designed   to   2008,   Volkswagen   had   become  one  of  the

Implementation Of Gst In Malaysia

3421 words - 14 pages studies and the experiences of other countries, inflation spikes as a result of GST implementation would merely be a one-off event and it is predicted that in Malaysia’s case it will take around one year for inflationary pressure to moderate. The government must prevent the price of goods from increasing to ensure that the implementation of GST will not burden the middle and low income group. Relevant measures were proposed in the Budget 2014 to


686 words - 3 pages MARKETING CASE STUDY 1 SUBMITTED BY : PAYAL KAUL 15336 Cottle-Taylor: Expanding the Oral Care group in India Cottle Taylor in India 1. It is known as Cottle India 2. Cottle has partnered with IDA for frequent studies & dental health outreach programs. As a result, Indians considered Cottle a big name for oral care and their products were trusted and regarded with respect in India. 3. Cottle’s share of total oral care

Related Essays

Budget Essay

9430 words - 38 pages compared to other Budget method or system in hastening the pace of development and fulfillment of the goals and objectives of the nation. Zero-based budgeting aims to justify resource allocation in an individual budget scheme, regardless of prior period budgets. It is not based on historical data and begins each budget period afresh. The budget is first allocated as zero unless the manager responsible makes the case for resource allocation

Budget Essay

1765 words - 8 pages Personal Budget Exercise – MS Excel For a review of the complete rubric used in grading this exercise, click on the Assignments tab, then on the title Personal Budget (Excel) click on Show Rubrics if the rubric is not already displayed. Creating a spreadsheet to track personal expenses is an excellent use of Microsoft Excel. For this exercise, you will create a spreadsheet to enter a personal budget and track actual expenses for the year

Operational Budget Essay

1439 words - 6 pages Phase 4 DB HCM410-1303B-02 September 14, 2013 Operational Budget with addition of 4 new areas Introduction The Krona Community Hospital, established in 1977, is a 60-bed, acute care hospital located in Banconota County. They currently offer a full range of health care services and maintain a staff of almost 100 physicians and specialists, 400 employees, as well as numerous volunteers. They are currently fully accredited by The Joint

Budget Management Analysis

1281 words - 6 pages Budget Management Analysis Budget management is an important concern for organizations, especially today with the economic strain on businesses. The strategies to manage budgets and possible variances will be addressed within the context of this paper. A comparison of five expense results with the budgetary expectations and reasons for possible variances will be presented. Benchmarking techniques that may improve budget accuracy in future