Response 75 words and 1 reference
Planning and budgeting are very important for an organization’s success. Without these two a company cannot succeed. Planning allows a company to reach its goals, it provides us a path to follow to reach the goals and success. Budgeting allows a company to see where they stand financially and what they are allowed to do and what they cannot do. Budgeting allows the business to plan for expenses and projects. It also gives us an insight into what needs to be done to reduce costs or plan accordingly to reach company goals.
Out of all the topics we covered throughout the term, capital budgeting is the most important to healthcare financial management. Capital budgeting allows us to see what projects are worth investing in and which ones we should stay away from. However, if done incorrectly the company can lose a significant amount of money and even go bankrupt. Overall capital budgeting is the future of the company, and that is why it is the most important