Assignment:
We learned about categories of costs and cost behavior, managing costs, and management control and budgeting. For your Unit 4 Complete assignment, write a narrative essay (minimum 1,200 words) in which you address and discuss the requirements below. Use at least three scholarly sources and remember to demonstrate a thorough understanding of the READ and ATTEND sections in your essay. Cite your sources using APA format.
You have just started as an entry-level accountant in your small 20 bed hospital. You need to get the buy-in of your board to agree to a project to help your organization stay on the cutting edge; however, they do not understand the concept of budgeting. You are asked to make a presentation to the board to explain the budgeting process. Included in that presentation you must create a spreadsheet delineating the components of a hospital budget. First, discuss the nature and use of budgets for management control and budgeting process. Next, prepare a budgeted income statement with hypothetical numbers for illustration purposes.