Differentiate between managerial accounting and financial

Question

• Present your 2010 Operating Budget Projection. Include an introduction in which you do the following:

1. Differentiate between managerial accounting and financial management.
2. Explain generally accepted accounting principles applied to the health care industry and how they are applied to your Operating Budget Projection.

• Justify your decision. Include numbers from the organization to support your analysis, such as numbers related to accounting principals, fiscal management, the balance sheet, and so on.
• Analyze the effect of your decision on the operating budget.

1. What is the opportunity cost of your decision?
2. How does budget performance affect patient care and employee satisfaction?
3. How are finance and accounting related to an operating budget?

• Explain the role of cost measurement in maintaining the operating and capital budgets via variance analysis.