Benchmark Assignment.
Part 1:
2010 Operating Budget.
Review the 2009 Budget Issues - Nurses file.
Decide which of the two highlighted options you will implement from the Nursing Statistics memo of the 2009 Budget Issues - Nurses document.
Discuss decision-making processes in creating a budget.
Create a new 2010 Operating Budget based on the labor decision you select from the Nursing Statistics memo.
Part 2: Analysis Paper
Write a 1,050- to 1,400-word paper. Your paper should:
• Discuss decision-making processes in creating a budget.
• Explain the role of variance analysis in maintaining an operating budget.
• Differentiate between managerial accounting and financial management.
• Explain generally accepted accounting principles applied to the health care industry and how they are applied to your Operating Budget Projection.
• Discuss the decision between the two labor alternatives facing the management of PFCH and the annual cost increase of each.
• Make a recommendation about which labor alternative should be chosen.
• Justify and analyze the labor decision that you recommend. Your justification should present numbers related to fiscal management including how each decision affects the 2010 Budget Projection.
• Analyze the effect of your decision on the operating budget, including:
- The opportunity cost of your recommendation.
- How your recommendation affects employee satisfaction.
- How your recommendation affects patient care and patient satisfaction.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
Attachment:- Nursing-Options.rar