I have uploaded the instructions and the grading rubric please do not deviate. Do this assignment exactly as it asks.Read the paragraph to complete this assignment. One of the tasks you face as a mana
Week 8 Assignment - Budget Development
Due back May 28, 2020
Read the paragraph to complete this assignment.
One of the tasks you face as a manager, especially if your organization makes frequent business transactions, is that of preparing a budget. A budget is a tool used for planning and controlling your financial resources. It is a guideline for your future plan of action, expressed in financial terms within a set period of time. A budget does not have to be complex. However, it should support the strategic plan for the organization. We will need resources to achieve our goals and objectives.
For this assignment, you will focus on the operating budget. An operating budget shows the company's projected revenue and associated expenses for an upcoming period—usually the next year. An operating budget starts with revenue, and then shows each expense type. This includes variable costs, or the costs that vary with sales, such as the cost of raw materials and production labor. The operating budget includes fixed costs, such as the monthly rent on office space or the monthly payment for a photocopier lease. The budget also includes operating expenses, such as interest on business loans, and the non-cash expense of depreciation. These items enable the company to compute its projected net income and net profit percentage.
Imagine you are the healthcare administrator for an actual non-profit clinic, home health agency, or outpatient surgery center. Your first task is to locate either the strategic plan for that organization or determine its strategic direction through the vision statement, mission/purpose statement, and strategic priorities/goals. You will also need to locate the audited financial statements for the organization.
Using the information from your research, develop a one-year operating budget for the chosen entity, which will include operating revenues and expenses. Include a 1–2-page document to justify the approach you use in constructing the operating budget with the strategic plan or strategic direction.
Upload the strategic plan or strategic direction and audited financial statements as an attachment or include the web link.
Complete your own spreadsheet for an operating budget using Excel.
Support your work with at least 3 quality references, one being your course textbook.
The specific course learning outcome associated with this assignment is:
Develop a budget for a department within a healthcare organization.
Follow the Scoring Rubric Do Not Deviate from this!!
1. Develop a 1-year budget including income and operating expenses. 30 %
Unacceptable Did not complete or insufficiently developed a 1-year budget and did not include operating expenses.
Needs Improvement Partially developed a 1-year budget, including income and operating expenses.
Competent Satisfactorily developed a 1-year budget, including income and operating expenses.
Exemplary Thoroughly developed a 1-year budget, including income and operating expenses.
2. Justify approach to proposed budget and aligned budget requests with the strategic plan. 30 %
Unacceptable Did not complete or insufficiently justified approach to proposed budget and did not align budget requests with the strategic plan.
Needs Improvement Partially justified approach to proposed budget and partially aligned budget requests with the strategic plan.
Competent Satisfactorily justified approach to proposed budget and satisfactorily aligned budget requests with the strategic plan.
Exemplary Thoroughly justified approach to proposed budget and thoroughly aligned budget requests with the strategic plan.
3. Include at least 1 capital project, using the principles of capital budgeting. 20 %
Unacceptable Did not complete or insufficiently included at least 1 capital project, and did not use principles of capital budgeting.
Needs Improvement Partially included 1 capital project, using principles of capital budgeting.
Competent Satisfactorily included 1 capital project, using principles of capital budgeting.
Exemplary Included at least 1 capital project, using principles of capital budgeting.
4. Support work by providing 3 quality references, one being your course textbook. 10 %
Unacceptable Did not submit or incompletely provided quality references.
Needs Improvement Provided 1 quality reference.
Competent Provided 2 quality references, one being the course textbook.
Exemplary Provided 3–5 quality references, one being the course textbook.
5. Clarity, writing mechanics, and formatting requirements. 10 %
Unacceptable Needs Improvement Competent Exemplary
More than 6 errors present. 5–6 errors present. 3–4 errors present. 0–2 errors present.
