The Impact of Financial and Strategic Planning

Unit Outcomes Addressed in this Assignment: Describe the key components of a financial plan Define financial and strategic planning Explain the difference between a simple budget and a flexible budget Describe the use of variance analysis in the budget creation process Course Outcome assessed/addressed in this Assignment: HS440-5: Explain the methodologies and processes used in preparing budgets for health care organizations. Gel-6.6: Apply research to the field of study. Utilizing your textbook and the Library: Bayside Memorial Hospital is considering purchasing a new MRI machine. Based on the cash flow analysis above would you recommend that the healthcare facility, Bayside Memorial Hospital, purchase an MRI machine? In your analysis please review the following concepts: incremental cash flow, sunk cost, opportunity cost, strategic value, inflation effects. (These are the assignment instructions, allowing students to master the key components of the rubric including : Describe the key components of a financial plan define financial and strategic planning; explain the difference between a simple budget and a flexible budget; and describe the use of variance analysis in the budget creation process. table Requirements Responses to the questions should be written in a clear, detailed manner and observe the conventions of Standard American English (correct grammar, punctuation, etc.). Follow APA formatting for the title and reference page, as well as APA formatting within the paper itself (Times New Roman 12-point font and properly double spaced). The minimum page limit is 2 pages or 600 words. The maximum page limit is 4 pages or 1200 words. Information should be summarized in your own words with appropriate APA formatting and citation style of in-text citations in the body of the text to acknowledge the source(s) of information. Include at least one reference. The course textbook may count towards the reference requirement for this Assignment. All references will follow APA format. Follow the conventions of Standard American English (correct grammar, sentence structure, punctuation, etc.). Your work should display superior content, organization, style, and mechanics.

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