leadership test 2

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  1. financial plan for the allocation of the organizations resources and a control for ensuring that the results comply with the plan
  2. statements that reflect issues affecting the future performance of the organization. framework for developing the budget.
    budget assumption
  3. amount spent on items that will have long term value to the organization. typically property or equipment
    capital expenditures
  4. an event or item that requires the outlay of money for purchase or the incurrence of a liability for future payment
  5. 12 month period used for calculating annual financial reports in business.
    fiscal year
  6. 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
  7. most common type of budgeting. comes from prior periods budget and adjusts for future growth.
    incremental budget
  8. money that a health care organization receives in exchange for providing health care or other related services
  9. 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
  10. materials used in performing tasks within the organization.
  11. the difference between the planned budget and actual results
  12. the process of analyzing the difference in the planned budget results and the actual results
    variance analysis
  13. approach to budget development that begins as though the budget were being prepared for the first time
    zero based budget
  14. planning
    monitor progress
    evaluate performance
    budget functions
  15. best opportunity to discuss concerns about resource allocation with leaders who can make a change
    budget process
  16. upper management sets budget and imposes goals on everyone.
    top down
  17. people responsible for achieving budget goals included in meeting
  18. combination of top down and participatory budget development
  19. review the strategic plan
    budget assumptions
    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
Card Set:
leadership test 2
2015-08-18 03:27:22
leadership chapter 17 18

leadership chapter 17 and 18
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