Financial Management – Budgeting

 These are relatively short answers, so 400-500 words is usually sufficient. You need to include supporting evidence from 3 to 4 evidence-based peer-reviewed articles published in journals. Budgeting is the instrument that healthcare organization’s use to quantify activities in financial terms (see exhibits 16-2 & 16-3 attached). Using the attached case study (pg. 503-506), complete the following: 1. Create a new budget for the next fiscal year 2. Explain the details of the assumptions you used to build the budget 3. Use the “Checklist for Building a Budget” (exhibit 16-2 attached) and critique your budget. 4. Discuss the challenges of healthcare leaders in creating and managing a budget. 5. Discuss how you would use this information to make decisions throughout a calendar year to manage the organization.