Finance Homework Help Assignment Exercises 15-1, 15-2, 15-3, and 15-4 on pages 494 through 495 Assignment Exercise 15â€“1: Budgeting Select an organization: either from the Case Studies in Chapters 27â€“28 or from one of the Mini-Case Studies in Chapters 29â€“31. Required â€¢ 1. Using the organization selected, create a budget for the next fiscal year. Set out the details of all assumptions you needed in order to build this budget. â€¢ 2. Use the â€œChecklist for Building a Budgetâ€ (Exhibit 15â€“2) and critique your own budget. Assignment Exercise 15â€“2: Budgeting Find an existing budget from a published source. Detail should be extensive enough to present a challenge. Required â€¢ 1. Using the existing budget, create a new budget for the next fiscal year. Set out the details of all the assumptions you needed in order to build this budget. â€¢ 2. Use the â€œChecklist for Building a Budgetâ€ (Exhibit 15â€“2) and critique your own effort. â€¢ 3. Use the â€œChecklist for Reviewing a Budgetâ€ (Exhibit 15â€“3) and critique the existing budget. Assignment Exercise 15â€“3: Transactions Outside the Operating Budget Review Figure 15â€“2 and the accompanying text. Metropolis Health System (MHS) has received a wellness grant from the charitable arm of an area electronics company. The grant will run for 24 months, beginning at the first of the next fiscal year. Two therapists and two registered nurses will each be spending half of their time working on the wellness grant. All four individuals are full-time employees of MHS. The electronics company has only recently begun to operate the charitable organization that awarded the grant. While they have gained all the legal approvals necessary, they have not yet provided the manuals and instructions for grant transactions that MHS usually receives when grants are awarded. Consequently, guidance about separate accounting is not yet forthcoming from the grantor. Required How would you handle this issue on the MHS operating budget for next year? Assignment Exercise 15â€“4: Identified Versus Allocated Costs in Budgeting Review Figure 15â€“3 and the accompanying text. Metropolis Health System is preparing for a significant upgrade in both hardware and software for its information systems. As part of the project, the Chief of Information Operations (CIO) has indicated that the Information Systems (IS) department can change the format of the MHS operating budgets and related reports before the operating budget is constructed for the coming fiscal year. The Chief Financial Officer (CFO) has long wanted to modify what costs are identified and what costs are allocated (along with the method of allocation). This is a golden opportunity to do so. To gain ammunition for the change, the CFO is preparing to conduct a survey. The survey will obtain a variety of suggestions for potential changes in allocation methods for the new operating budget report formats. You have been selected as one of the employees who will be surveyed. Required You may choose your role for this assignment, as follows: Refer to the â€œMHS Executive-Level Organization Chartâ€ (Figure 28â€“2 in the MHS Case Study). (1) Either (a) choose any type of patient service that would be under the direction of the Senior Vice President of Service Delivery Operations or (b) choose any other function shown on the organization chart. (Your function could be a whole department or a division or unit of that department. For example, you might choose Community Outreach or Human Resources Operations or the Emergency department, etc.) (2) Make up your own organization chart for other employee levels within the function you have chosen. (3) Now make up another chart that indicates the operating budget costs you think would be mostly identifiable for the department or unit or division you have chosen and what other o
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