Assignment Question
Analyze budget variances: Analyze the healthcare organization’s budget variances by comparing actual financial results to the budgeted amounts. Identify areas where the actual results differ from the budgeted amounts (variance), indicate whether the variance is Favorable (“F”) or Unfavorable (“U”), and suggest reasons for the variances. While you have limited information, you should be able to produce a plausible explanation of what may have caused the variance.
Determine breakeven point:
Determine the breakeven point for the healthcare organization by calculating the point where the organization’s total revenues equal its total costs. Assume that Salaries, Benefits, and Supplies variable and all other costs are fixed.
Identify financial management challenges: Identify the financial management challenges related to the budget variances and breakeven costs. Develop recommendations:
Develop recommendations for the healthcare organization to address the budget variances and to utilize the break-even analysis. There are two deliverables for this assessment. (1) Excel analysis using the template provided for instructions 2 and 3, and (2) a 1-to-2-page essay discussing your findings per instructions 4 and 5. The essay should be formatted professionally, use correct grammar and be at least one page in length, excluding the title and reference pages
