{"id":29020,"date":"2021-06-25T07:24:45","date_gmt":"2021-06-25T07:24:45","guid":{"rendered":"http:\/\/onlineclassesguru.com\/?p=29020"},"modified":"2021-06-25T07:24:45","modified_gmt":"2021-06-25T07:24:45","slug":"determine-the-total-variance-between-the-planned-and-actual-budgets-for-surgical-volume-is-the-variance-favorable-or-unfavorable","status":"publish","type":"post","link":"https:\/\/onlineclassesguru.com\/index.php\/2021\/06\/25\/determine-the-total-variance-between-the-planned-and-actual-budgets-for-surgical-volume-is-the-variance-favorable-or-unfavorable\/","title":{"rendered":"Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable?"},"content":{"rendered":"<style type=\"text\/css\"><\/style><h4>Assignment: Budgeting and Variance Analysis<\/h4>\n<p>Note: The Instructor will post the document for this Assignment by Day 1 of Week 9.<br \/>\nBudgeting is an important activity within every health care organization. The particular challenges encountered, however, can vary depending on the type of organization. A state or federally funded organization, for example, will likely have a budget that is allocated to it, and it needs to follow specific guidelines on how the money can be used. A for-profit organization, by contrast, will typically have more influence and flexibility in setting up its budget and making choices on matters such as how much to spend on marketing, patient care, or incentives for employees.<br \/>\nIn addition to preparing budgets, as a health care administrator, you must also be able to evaluate whether or not you have achieved your budget using variance analysis. This is important because variance analysis measures the differences between the budget and actual results, and provides administrators with a starting point for correcting financial performance. For this Assignment, you conduct a variance analysis for a health care organization.<br \/>\nTo prepare for this Assignment:<br \/>\nReview the Week 9 Assignment document provided to you by the Instructor. Examine the budgeted and actual revenues and expenses for a hospital. Reflect on concepts of budgeting and variance. Refer to Chapter 10 and Chapter 11 of Financial Management of Health Care Organizations: An Introduction to Fundamental Tools, Concepts and Applications in this week\u2019s Learning Resources for additional guidance.<br \/>\nThe Assignment:<br \/>\nUsing the \u201cWeek 9 Assignment Budget and Variance Excel Template\u201d address the following:<br \/>\nDetermine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable?<br \/>\nDetermine the total variance between the planned and actual budgets for Patient Days. Is the variance favorable or unfavorable?<br \/>\nDetermine the service-related variance for Surgical Volume.<br \/>\nDetermine the service-related variance for Patient Days.<br \/>\nPrepare a flexible budget estimate. Present a side-by-side budget, flexible budget estimate, and the actual Surgical Revenues.<br \/>\nPrepare a flexible budget estimate. Present a side-by-side budget, flexible budget estimate, and the actual Patient Expenses.<\/p>\n<p><center><a href=\"http:\/\/onlineclassesguru.com\/orders\/ordernow\"><img decoding=\"async\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcTyj99p60XCLyLk1htB7-1neRt8-2QdnenNlQ&usqp=CAU\"target=\"_http:\/\/onlineclassesguru.com\/orders\/ordernow\"\/><\/center><p>","protected":false},"excerpt":{"rendered":"<p>Assignment: Budgeting and Variance Analysis Note: The Instructor will post the document for this Assignment by Day 1 of Week 9. Budgeting is an important activity within every health care organization. The particular challenges encountered, however, can vary depending on the type of organization. A state or federally funded organization, for example, will likely have&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-29020","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable? - onlineclassesguru<\/title>\n<meta name=\"description\" content=\"Determine the total variance between the planned and actual budgets for Surgical Volume. 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