The Nature And Use Of Budgets For Management Control And Budgeting Process

Write a narrative essay (minimum 1,200 words) in which you address and discuss the requirements below. Use at least three scholarly sources in the 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 (1) create a spreadsheet delineating the components of a hospital budget. First, (2) discuss the nature and use of budgets for management control and budgeting process. Next, (3) prepare a budgeted income statement with hypothetical numbers for illustration purposes.

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