1-Mention the types of budgets that you know and give examples of then?

2- What is budgeting?

3- What is directed and indirect cost?

4- Give examples of productive and non-productive hours?

5- What does HMO, PPO, POS means?

A) Mention one example of each of then in your city, or state?

6- What is DRGs.?

7- Give some examples of strategies for Cost-conscious nursing practice that your Nursing unit use to lower medical care cost?

Answer preview

There are different budget types, master, cash flow, operational, labor, and financial budget. Master budget entails a comprehensive approach to management plans to carry out all the business facets over a budgetary cycle, typically the fiscal year. Some examples of master budget are finished goods, direct labor, manufacturing expenses, and direct material budget. More specifically, the cash flow budget estimates how money comes in and out of business over a certain period (Barr et al., 2018). For instance, it includes the expenses paid, revenues collected, payments, and loan receipts. The operating budget portrays the company’s revenue, including the cost and expenses related to it for a period of time. It is comprised of the cost of capital, variable, fixed, and non-operating costs. Furthermore, the financial budget helps the organization to understand the capital they need to fulfill short- and long-term goals. Lastly, the labor budget helps the organization determine the workforce required to achieve goals, and often a payroll of all employees is drafted.

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