than expected in the budget‚ or * Revenue/profits were higher than expected By contrast‚ an adverse variance might arise because: * Costs were higher than expected * Revenue/profits were lower than expected What causes budget variance? There are four key reasons and it is important that good managers recognise the differences‚ because the action required is may be completely different in each case. The four reasons are: 1. Faulty Arithmetic in the Budget Figures 2. Errors in
Premium Normal distribution Variance Arithmetic mean
Manage budgets and financial plans Case study 1. List the revenue and expense records that you would use to gather information and their source. Revenue Records of the Business * Sales Invoices * Cash register receipts * Credit card / EFTPOS receipts Expense Record of the business * Purchase Invoice * Rent Slip * Wages and salaries 2. Provide samples of source documentation Purchase Invoice | | | | Serial No. | Item Purchased | | Total | 0011 | Brocolli
Premium Receipt Invoice Customer
CASE STUDY 3 - Cash Budget SCHEDULE OF EXPECTED CASH COLLECTIONS FROM CUSTOMERS: Credit Sales May June April (94‚000 * 0.70) = 65‚800 65‚800 May (89‚500 * 0.30) = 26‚850‚ June (89‚500 * 0.70) = 62‚650 26‚850 62‚650 June (75‚000 * 0.30) = 22‚500 22‚500 Total Cash Collections 92‚650 85‚150 SCHEDULE FOR EXPECTED PAYMENTS FOR PURCHASE OF INVENTORY Inventory purchases May June April (195‚000
Premium Investment Asset Receipt
Description: When long term care is planned in advance of when it might be needed‚ it can frequently be incorporated as part of home health care‚ which benefits patients and their families. Primary keyword: long term care Secondary keyword: home health care Title: Long Term Care Is an Important Part of Home Health Care H1 Everyone Benefits When Long Term Care Is Included in The Services Provided by The North Hills Home Health Care Professionals You’re able to take care of most of your daily needs
Premium Health care Medicine Illness
program‚ was adopted in 1965 to provide health coverage and services to the elderly seniors (over 65) and disabled citizens without regard to income or medical history. Its funds come directly from federal governments and beneficiaries. Medicare revenues come from interest‚ taxation of social security benefits‚ state payments‚ payroll taxes‚ beneficiary premiums and general revenue. The government uses money generated from taxes to reimburse providers who take care of patients enrolled in these programs
Premium Health care Health insurance Medicare
Clinical decision making and end of life care The purpose of this essay is to discuss important aspects of clinical intervention in Australia health care settings and end of life care. A vast number of the population in Australia is ageing and numerous people suffer form chronic illnesses‚ they have more chances to die in the near future. As a consequence the focus of the end of life care resources is concentrated in the elderly and chronic sufferers. Resources such as financial‚ human and
Premium Death Medicine Life
CHAPTER 3 Predetermined Overhead Rates‚ Flexible Budgets‚ and Absorption/Variable Costing Questions 1. Although both variable and mixed costs change in total with activity measure changes‚ the difference is that variable costs change in direct proportion to such activity changes and mixed costs do not. Since a mixed cost has both a fixed and variable component‚ the cost per unit at different activity levels is not constant as it is with a variable cost. 2. No‚ these are not always the best points
Premium Variable cost Costs Fixed cost
day workers all over the world are faced with a multitude of health hazards‚ such as: • Dusts • Gases • Noise • Vibration • Extreme temperatures Unfortunately some employers assume little responsibility for the protection of workers’ health and safety. In fact‚ some employers do not even know that they have the moral and often legal responsibility to protect workers. As a result of the hazards and a lack of attention given to health and safety‚ work-related accidents and diseases are common
Premium Medicine Health care Health
Manage health and social care practice outcomes for individuals 1. Understand the theory and principles that underpin based practice Explain outcome based practice In 1990 health care providers had just began to discover what appeared to be a very powerful tool for reducing variation in patient care practices - clinical paths. A clinical path includes descriptions of key events that‚ if performed by caregivers as described‚ are expected to produce the most desirable outcomes for patients
Premium Health care Management Health
The Future of Managed Health Care Delivery System: Accountable Care Organization Veronica L Nelson MHA 628: Managed Care & Contractual Services Dr. Hwang-Ji Lu June 1‚ 2015 Abstract The health restructuring dispute has centered on compensating providers particularly more when delivering quality care to their patients than for enhancing the volume of services they provide (Ries‚ 2014) Accountable care organizations (ACOs) is a single proposed way of altering compensation methods to
Premium Health care Health insurance Medicine