budgeting

Question 1

manages the lab budget

Answer 1

lab head or lab manager

Question 2

assets and expenses similarities and difference

Answer 2

similarities = both needs to be paid
difference = intention /goal of paying

Question 3

owning a property

Answer 3

asset

Question 4

= renting a building

Answer 4

EXPENSES

Question 5

LONG-TERM ASSET

Answer 5

catex

Question 6

Equipment that becomes ours

Answer 6

long-term asst

Question 7

evenue spending/ operating expenditure

Answer 7

short term asset

Question 8

–electricity
bills water bills, etc. needed for daily
operation

Answer 8

opex

Question 9

Process of planning, forecasting, controlling,
monitoring the financial resource of organization

Answer 9

budgeting

Question 10

To determine what kind of asset are needed by the
company and the capacity or ability of the company
to purchase such assets ()

Answer 10

importance of budgeting to capex

Question 11

To ensure you have enough money to pay or sustain
the bills or expenses. To anticipate if funds are
enough to carry out daily operational expenses
()

Answer 11

importance of budgeting to opex

Question 12

twoo type of budgetin

Answer 12

opex and catex

Question 13

2 type of opex

Answer 13

flexible budgeting and zero-based budgeting

Question 14

Advertising, salary, consumables, rent, maintenance

Answer 14

opex

Question 15

Daily/regular expenses

Answer 15

opex

Question 16

Expenses that does not directly relate to services
given to patient but is needed for tha lab to function
properly

Answer 16

opex

Question 17

Covers equipments, acquisitions and projects that
require financial equipment

Answer 17

capex

Question 18

Process used to plan ,eval and choose future
investment , equipments, projects, building

Answer 18

capex

Question 19

Mostly used in labs

Answer 19

flexible budgeting

Question 20

attempts to set expenditure based on variable
workload volume

Answer 20

flexible budgeting

Question 21

budget with flexibility para pag madami patients
need mas madami staff, reagents, census na
bibilin or required

Answer 21

FLEXIBLE BUDGETING

Question 22

census drop if number of test decreases tas
employee den decreases, pati demand

Answer 22

FLEXIBLE BUDGETING

Question 23

opex increase if workload increases vice versa

Answer 23

FLEXIBLE BUDGETING

Question 24

analysing needs based on prioritising of goods and
objectives and not on past or history allocations

Answer 24

Zero-based budgeting

Question 25

based on priority,objectives, or kung ano in demand

Answer 25

Zero-based budgeting

Question 26

the process is independent or whether total budget for specific test is decreasing or increasing

Answer 26

Zero-based budgeting

Question 27

OPERATIONAL BUDGETING PREPARATIOn

Answer 27

1. TIME FRAME 2. FORECASTING STAGE 3. SCHEDULING STAY 4. SYNETHESIS OF INFORMATION

Question 28

annual budget (1 year) or budget cycle in the man working guidelines for the management

Answer 28

TIME FRAME

Question 29

you forecast based on historical information or predict the budget that will be prepared out of history 2-3 years back

Answer 29

FORECASTINGSTAGE

Question 30

USED IN FORECASTING STAGE

Answer 30

- SHIFT IN PATIENT MIX OR VOLUME -CHANGE IN MED STAFF COMPOSITION - CHANGE IN BUSINESS PARAMETERS LIKE INFLATION AND REIMBURSEMENT RATE - EXPANSION OR CUTBACK IN SERVICE OFFERED BY HOSPITAL OR LAB - POPULATION FLUNJCTUATION BROUGHT ABOUT BY CHANGES IN LOCAL ECONOMY

Question 31

when budget is prepared must be at a time prior to physical year most of the time January.

Answer 31

SCHEDULING STAY

Question 32

how financial information is organized

Answer 32

synthesis of information

Question 33

Budget management is organized in 3 parts

Answer 33

a. Revenue and volume figure Revenue b. Itemized cost categories c. Labor hours

Question 34

income generated from the services and sales

Answer 34

revenue

Question 35

budget must be presented logically. Sources/income/Funds using should be presented first before expenses yung 3 part sa taas, kung magkano gusto mo kitain next year and kung magkano censu

Answer 35

synthesis of information

Question 36

type of analysis in capex

Answer 36

NARRATIVE DESCRIPTION AND QUANTITATIVE TECHNIQUE

Question 37

includes written justification of the project and a prioritization of the competing proposa

Answer 37

NARRATIVE DESCRIPTION

Question 38

detailed rationale for the project budget, how it will benefit the lab and why it should be considered over competing subject

Answer 38

JUSTIFICATION

Question 39

= reviewing to maintain service level = Provide significant savings over current methods = enhance or improve current programs = offer new products or services

Answer 39

PROPOSAL JUSTIFICATION

Question 40

additional step on justification is to prioritise project, both in the time frame and in relation to other request, capital budget forms as scaled according to rank ??

Answer 40

PRIORITIZATION

Question 41

in relation to other request, capital budget forms as scaled according to rank ??

Answer 41

OPPORTUNITY COST

Question 42

used to determine the financial feasibility of tehe project m

Answer 42

QUANTITATIVE TECHNIQUE

Question 43

Length of time it will take to cover the cash outlays for a project.

Answer 43

PAYBACK

Question 44

METHODS USED IN QUANTITATIVE TECHNIQUE

Answer 44

1. PAYBACK PERIOD 2. AVERAGE RATE OF RETURN 3. NET PRESENT VALUE 4. INTERNAL RATE OF RETURN 5. REQUIRED RATE OF RETURN

Question 45

PAYBACK PERIOD COMPUTATION

Answer 45

computation: purchase price of project/equipment divided by annual income generated by the project or equipment

Question 46

average yield over life of an investment. Magkano kikitain in a lifespaN

Answer 46

AVERAGE RATE OF RETURN

Question 47

worth of future earnings at today’s rate;

Answer 47

NET PRESENT VALUE

Question 48

ratio of cash flow and cost of capital factors to amount of investment required. Magkanoo kikitain over the invested mone

Answer 48

INTERNAL RATE OF RETURN

Question 49

bottom-line level of income requirement by a company before any project is considered. Pag di kumita to ng specific amount of money di bibilin

Answer 49

. required rate of return