When creating a budget we work through potential scenarios, entering calculations into our budget worksheet, to determine the impact each might have on our organization.
Instructions:
In this assignment enter calculations into the provided budget excel document; we have completed entries for January – June. After entering the assigned calculations, answer the questions regarding the budgeted scenario.
Submit both your completed excel file and word document to the dropbox.
Expert Solution Preview
Introduction:
The provided content is related to a medical college assignment that involves creating a budget and evaluating its impact on the organization. As a medical professor, I would expect my students to have a thorough understanding of financial management principles and their practical application in the healthcare industry.
Answer:
The given assignment requires students to use an excel document to enter calculations, which will help determine the impact potential scenarios might have on the organization’s budget. The calculations for the budgeted scenario have already been filled out for January to June, and the students need to complete the remaining calculations.
After entering all the assigned calculations, the students need to answer the questions regarding the budgeted scenario. This exercise will help them analyze the budget, identify strengths and weaknesses, and make informed decisions based on the available financial information.
Submitting both the completed excel file and the word document is mandatory to ensure that students understand the importance of keeping accurate records and documenting their work. Overall, this assignment reflects the practical application of financial management principles in the medical industry, and I would expect my students to perform it with utmost accuracy and diligence.
