Manajemen Keuangan I KARS

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Manajemen Keuangan I KARS

  1. 1. TUGAS INDIVIDU MANAJEMEN KEUANGAN ( REVIEW 13 ) Disusun oleh : MYRNA OCTAVIANY ( NPM 1306352452 )
  2. 2. BUDGETING Zelman, William N., McCue, Michael J., Millikan, Alan R., Glick, Noah D., Financial Management of Health Care Organizations - An Introduction to Fundamental Tools, Concepts, and Applications, 2nd edition, Blackwell Publishing Ltd, 2003 ( Chapter 10 )
  3. 3. INTRODUCTION  The budget is the central document of planning/control cycle, has four major components : 1.Strategic planning 2.Planning 3.Controlling 4.Implementing
  4. 4. Strategic Planning & Planning o Provide the basis to develop the budget. o Strategic planning  to identify the organization’s vision, mission, goals, and strategy in order to position itself for the future. o Planning  to identify goals, objectives, tasks, activities, and resources necessary to carry out strategic olan over a defined time period ( commonly one year ). o Mission statement  guides the organization into the future by identifying unique attributes of the organization, why it exists, and what it hopes to achieve.
  5. 5. Implementing & Controlling Activities Controlling activities  provide guidance and feedback to keep the organization within its budget once it has been approved and is implemented.
  6. 6. Organizational Approaches to Budgeting Budgeting
  7. 7. 1. PARTICIPATION o The authoritarian approach : budgeting and decision making which are done by few people concentrated in the highest level of the organizational structure  top-down budgeting o The participatory approach : the roles and responsibility of putting together a budget are diffused troughtout the organization. There are guidelines to follow, and approval must be secured by top management  bottom-up budgeting  advantages : develop a shared of understanding of goals, cooperation – coordination among various dept, and clarifying roles and responsibility troughtout organization, etc
  8. 8. The Participatory Approach Advantages : 1. Develop a shared of understanding of goals, cooperation – coordination among various dept 2. Clarifying roles and responsibility troughtout organization 3. Motivating staff 4. Bringing about cost awarenest Disadvantes : 1. May result in lost of control 2. Time consuming and uses resources tha could be devoted to other purposes 3. May result disappointment
  9. 9. Budget Models o Two basic budget models : 1. Incremental / decremental budgeting  Begin with what exists to plan future budgeting  Begin by asking : “ how much of an increase or decrease should each programs receive? “ 2. Zero based budgeting  Continually questions both the need for each program and its level of funding  In preparation, each budgeting unit prepares : overall justification for the program, condition of the programs in various levels of funding
  10. 10. Budget Detail ….. ( 1 ) Based on the amount of detail they contain : 1. Line-item budget : showing only revenues and expenses by category 2. Program budget : extension of line-item budget, shows revenues and expenses by program or service lines 3. Performance budget : lists revenue and expenses by line item for each program or service covered by the budget
  11. 11. Budget Detail ….. ( 2 ) Other budget details : 1. Multi-year budget : a budget which is forecast multiple years out, rather than just for upcoming year. 2. Rolling budget : multiyear budget which is updated more frequently than annually 3. Static budget : a budget which is uses a single or fixed level of activity 4. Flexible budget : a budget which accommodates a range or multiple levels of activities
  12. 12. Types of Budgets ….. ( 1 )
  13. 13. Types of Budgets ….. ( 2 ) Statistic Budget Identifies the amount of services that will be provided, usually listed by payor type : a. Charged-based payors : pay what is charged b. Cost-based payors : pay based on estimate of what it costs an organization to deliver the service for which they are paying c. Flat fee payors : pay a predetermined fee per unit of service d. Capitated payors : pay a fixed amount per enroll for a fixed of period of time
  14. 14. Types of Budgets ….. ( 3 ) Operating Budget  Combination of two budgets developed using the accrual basis of accunting : the revenue budget and the expense budget  The revenue budget : forecast of the operating revenues that will earned during the budget period. It has two components : Net patient revenues and non-patient revenues  The expense budget : lists all operating expenses that are expected to be incurred during the budget period
  15. 15. Types of Budgets ….. ( 4 ) The Cash Budget  Represents the organization’scash inflows and outflows  The bottom line : amount of cash available at the end of period The Capital Budget  Summarizes the anticipated purchase for the year
  16. 16. Variabel Labor Budget Developed by : o Estimate how many hours will be covered by full-time staff o Determine how many hours will not be covered by full-time staff o Determine how many of the non-covered hours will be filled by overtime and how many will be covered by part-time hours o Apply the full-time and part-time rates to the full and part-time hours to calculate full and part-time wages
  17. 17. Supplies Budget Made of :  A variable supplies budget ⇒ vary with the number of patient seen : dispoables syringes, disposable gloves, X-ray film Formula : Ending Inventory = Opening inventory + Purchases – Cost of Goods Used  A fixed supplies budget ⇒ covers item such as office supplies, which do not vary with the number of patients seen
  18. 18. OPERATING BUDGET Baker, Judith, Baker, R.W., Health Care Finance: Basic Tools for Nonfinancial Managers, 3rd edition, 2011 by Jones and Bartlett Publishers, 2011 ( Chapter 15 )
  19. 19. OVERVIEW o A budget is an organization-wide instrument, through which activities are quantified in financial terms o Budgeting Process : 1. To provide a written axpression, in quantitative terms of a hospital policies and plans 2. To provide a basis for evaluation of financial performance in accordance a useful tool for the control of costs 3. To provide a useful tool for the control of costs 4. To create cost awareness troughout the organization
  20. 20. OPERATING BUDGETS vs CAPITAL EXPENDITURE BUDGETS OPERATING BUDGETS o Generally deal with actual short-term revenues and expenses necessary to operate that facility o The usual period covered is the next year CAPITAL EXPENDITURE BUDGETS o Linked into a more futuristic view o May cover a five or ten years period
  21. 21. TRANSACTIONS OUTSIDE THE OPERATING BUDGET
  22. 22. IDENTIFIABLE vs ALLOCATED BUDGET COSTS
  23. 23. FIXED vs VARIABLE COSTS
  24. 24. BUILDING AND OPERATING BUDGET : PREPARATION …… ( 1 ) CONSTRUCTION STAGES, include : o Plan o Gather Information o Prepare input o Costruct and submit draft version of budget o Present prelilinary budget o Make required revisions to preliminary budget o Submit final budget ⇒ Input includes both assumption and calculation
  25. 25. BUILDING AND OPERATING BUDGET : PREPARATION …… ( 2 ) CONSTRUCTION ELEMENTS o As part of the preparation process, we should determined : - Format to be used - Budget scope - Available resources - Time frame
  26. 26. BUILDING AND OPERATING BUDGET : CONSTRUCTION …… ( 1 ) I. BUDGET INFORMATION SOURCES
  27. 27. BUILDING AND OPERATING BUDGET : CONSTRUCTION …… ( 2 ) II. BUDGET ASSUMPTIONS AND COMPUTATIONS III.FINALIZE AND IMPLEMENT THE BUDGET
  28. 28. WORKING WITH STATIC AND FLEXIBLE BUDGETS ….. ( 1 ) STATIC BUDGETS o is essentially based on a single level of operations. o After a static budget has been approved and finalized, that single level of operations (volume) is never adjusted. o Budgets are measured by how they difference from actual results. o Thus, a variance is the difference between an actual result and a budgeted amount when the budgeted amount is a financial variable reported by the accounting system. o The variance may or may not be a standard amount, and it may or may not be a benchmark amount
  29. 29. WORKING WITH STATIC AND FLEXIBLE BUDGETS ….. ( 2 ) FLEXIBLE BUDGETS o A flexible budget is one that is created using budgeted revenue and/or budgeted cost amounts. o A flexible budget is adjusted, or flexed, to the actual level of output achieved (or perhaps expected to be achieved) during the budget period.
  30. 30. CAPITAL EXPENDITURE BUDGETS Baker, Judith, Baker, R.W., Health Care Finance: Basic Tools for Nonfinancial Managers, 3rd edition, 2011 by Jones and Bartlett Publishers, 2011 ( Chapter 16 )
  31. 31. OVERVIEW o Capital expenditures involve the acquisition of assets that are long lasting, such as equipment, buildings, and land. o Capital expenditure budgets are usually intended to plan, monitor, and control long-term financial issues. o It is also important to note that the budget for capital expenditures is usually part of an overall, or comprehensive, financial budget.
  32. 32. BUDGET CONSTRUCTION TOOLS ….. ( 1 ) Cash flow concept o Illustrates how the project’s cash is expected to move over period of time o Must also be reported as cumulative Cash flow reporting methods ---- there are four methods : 1. Payback method 2. Accounting rate of return 3. Net present value 4. Internal rate of return
  33. 33. The Process of Requesting Capital Expenditure Funds
  34. 34. TYPES OF CAPITAL EXPENDITURE PROPOSAL Proposal types commonly include the following types of requests : o Acquiring new equipment o Upgrading existing equipment o Replacing existing equipment with new equipment o Funding new programs o Funding exoansion or existing programs o Acquiring capital assets for future use
  35. 35. EVALUATING CAPITAL EXPENDITURE PROPOSALS Most organizations will consider the following factors in some fashion or other:  Necessity for the request  Cost of capital to the organization  Return that could be realized on alternative investments Be considered in a descending sequence of decision making

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