leadership test 2
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financial plan for the allocation of the organizations resources and a control for ensuring that the results comply with the plan
statements that reflect issues affecting the future performance of the organization. framework for developing the budget.
amount spent on items that will have long term value to the organization. typically property or equipment
an event or item that requires the outlay of money for purchase or the incurrence of a liability for future payment
12 month period used for calculating annual financial reports in business.
the number of hours worked or paid that is equal to that expected of a full time employee working a 40 hour work week
full time equivalent
most common type of budgeting. comes from prior periods budget and adjusts for future growth.
money that a health care organization receives in exchange for providing health care or other related services
budget category typically includes direct payment for hours worked, bonuses, accrued vacations, health benefits, employer portion of the payroll taxes and workers comp
salaries, wages and benefits
materials used in performing tasks within the organization.
the difference between the planned budget and actual results
the process of analyzing the difference in the planned budget results and the actual results
approach to budget development that begins as though the budget were being prepared for the first time
zero based budget
best opportunity to discuss concerns about resource allocation with leaders who can make a change
upper management sets budget and imposes goals on everyone.
people responsible for achieving budget goals included in meeting
combination of top down and participatory budget development
review the strategic plan
gather info about past results
predict units of service provided
project expected revenue based on units
project expenses based on units
steps to develop a budget
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