Explain the processes used in preparing budgets for health care organizations.
In this assignment, you are the CFO of a hospital, and you will create a one-page memorandum detailing cost-cutting measures that will be undertaken in response to the COVID-19 (or similar) crisis. You will consider debt financing, variance analysis, and cost variances in the organization. You need to translate your analysis results into practical action steps the organizations and employees will take.
Instructions
In this one-page memorandum, you will:
• Describe the action steps the organization will take to cut costs.
• Explain the reason for the cost-cutting measures.
• Discuss the valued contributions the employees can make to make the cost-cutting measures a success.
• Describe the appreciation the organization has for the employees during this crisis.
