Happy Hospitals

Budget Reports

Even at a non-profit organization like Happy Hospital, budgeting, also known as

plans, is an important part of business. "Budgeting is the process of developing a plan,

implementing it, and attempting to control outcomes so that they conform to or exceed

the results called for by the plan" (Finkler, Ward, & Baker, 2007, p. 160). Happy

Hospital has had a couple of years of losses, which creates financial stress. If the hospital

were to create a budget it could possibly alleviate this period of financial hardship.

Options

Happy Hospital can have some options when creating a budget, but the biggest

problem is to look into the performances of the organization and deeply evaluate what is

expected as an end result. This is important because it offers a clear outline of what

management will need to keep up with and if the plans are working.

Performance Reports

Purchasing the technology needed to be able to implement electronic medical

records as the hospital is seeking can have a great cost but a great benefit in the long

making this a great investment for the hospital.

Accounting reports can be viewed to indicate the financial history of the hospital

and trend how much money is spent each year (Finkler, 2006). Mr. Knee, CEO of Happy

Hospital, needs to implement budgets and performance reports as managing tools to help

in the process of financial planning. The business performance should reflect cost,

financial position, capital, cash flow, liabilities and net calculations. These steps would

help the hospital gain information on spending areas and be able to avoid them in the

future.

Ethics’ Influence

Ethics is an important aspect of business, no matter what type of business it is. In

a hospital ethical principles are viable in order for patients and customers to trust the

hospital's business. There is a lot of information, which is sensitive enough...