Preparing The Operating Budget

Preparing the Operating Budget: Roles and Responsibilities Name School Course February 4, 2012 professor Name ? Preparing the Operating Budget: Roles and Responsibilities The operational figure is fictitious character of the outmatch compute for an shaping and its finding is to establish the be after revenues and expenses over a specific m dot (Finkler, Kovner, & Jones, 2007 p. 233). The period of time covered by an in operation(p) figure is typically one year (Finkler, et al, 2007 p. 233). Preparing the in operation(p) budget for an organization should be a joint effort mingled with administration and the management squad which reflects the collective knowledge, experience, and realistic expectations (Herkimer, 1988, p. 3). In narrate to understand the action of preparing an operating budget, this paper get out examine the roles and responsibilities of the oldtimer Financial Officer (chief financial officer), Vice chairperson of treat, outgro wth line managers, and staff. The CFO is primarily responsible for(p) 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 testament provide managers with information about external factors in the operating environment such as the local economy, demographic changes, and puffiness (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 tariff similar to the CFO, but with regard to patient sell activities preferably of finance activities (Finkler, et al, 2007, p. 37). In many health solicitude organizations, receivable to the number of employees and the...If you want to get a all-embracing essay, order it on our website: OrderEssay.net

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