Research Paper on:
Patton Fuller Nursing Options Operating Budget

Unformatted Sample Text from the Research Paper:
total expenses of the organization and attempts to draft an overall budget that meets the fiscal needs of the organization, managerial accounting is about wisely allocating funds in such a  way so as to achieve the performance-related goals of the organization; in this case, superior quality health care. The budget for the organization as a whole was drawn up with  an eye towards financial accounting, as is in keeping with the Generally Accepted Accounting Practices (GAAP) standards that govern the ethical budgeting, reporting, and auditing of all major businesses in  the United States. That being said, the budgets presented in this presentation are justified by a careful analysis of revenue trends, a conservative estimation of increasing budgetary needs, and prudent  investments. The result is that the organization is expected to report a profit of 9,116 dollars in the new budget, rather than the 627 dollar profit reported last year.  *What is the opportunity cost of your decision? Budget performance impacts patient care and employee satisfaction directly in the sense that nurses are the primary determinant of patient  care quality in the hospital, and the performance of nurses is intimately tied to their job satisfaction. Given that a higher salary would increase job satisfaction, the ability to raise  nurses salaries in light of successful budget performance would be great both for nurses and patients. However, in developing an operating budget that allows for raising the salaries of nurses  or hiring new nurses, that operating budget must absolutely be informed by careful and rigorous finance and accounting data, taken from past budgets, and sound projections. Variance analysis must be  utilized to predict the increases in various expenses for the organization to prevent under-budgeting from occurring, and to ensure that sufficient funds are able to be allocated to the expense