Preparing The Operating Budget

Preparing the Operating Budget: Roles and Responsibilities
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February 4, 2012
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Preparing the Operating Budget: Roles and Responsibilities
The operational figure is part of the outmatch budget for an organization and its finding is to establish the planned revenues and expenses over a specific m period (Finkler, Kovner, & Jones, 2007 p. 233). The period of time covered by an in operation(p) budget is typically one year (Finkler, et al, 2007 p. 233). Preparing the operating budget for an organization should be a joint effort mingled with administration and the management team which reflects the collective knowledge, experience, and realistic expectations (Herkimer, 1988, p. 3). In order to understand the process of preparing an operating budget, this paper get out examine the roles and responsibilities of the Chief Financial Officer (chief financial officer), Vice chairperson of Nursing, first line managers, and staff.
The CFO is primarily responsible for the pecuniary aspects of strategic planning in an organization and as such is responsible for all financial functions including the budgeting process (Finkler, et al, 2007 p. 44). It is the CFO who presents the master budget to the Board for its approval (Herkimer, 1988 p. 13).



In preparing the operating budget, the CFO will provide managers with information about external factors in the operating environment such as the local economy, demographic changes, and inflation (Finkler, et al, 2007, p. 242). The CFO may also act as the budget director, collecting the operating budgets from the Vice chairmans of the various departments and conciliate them with the organizations overall budget (Herkimer, 1988, p. 18).
The Vice President of Nursing or Chief Nursing Officer (CNO) has license and responsibility similar to the CFO, but with regard to patient sell activities instead of finance activities (Finkler, et al, 2007, p. 37). In many health solicitude organizations, due to the number of employees and the...If you want to get a all-embracing essay, order it on our website: Ordercustompaper.com



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