chapter 14 budget

When budgeted amounts have been set without regard to changes that may occur during the year.

Assumes the base for projecting next year's budget is zero.

Developed with the understanding that adjustments to the budget may be made during the year.

Also known as the annual budget, is the organizations statement of expected revenues and expenses for the coming year.

Identifies physical renovations, new construction, and new equipment.

represents the client care income expected for the budget period.

Also known as the personal budget, projects the salary costs that will be paid and charged to the cost center in the budget period.

The process of comparing actual results with the results projected in the budget.

Utilizes separate categories for different expense items.

May require adjustments to the budget based upon changes in revenues.

Refers to sharing the profits and/or losses with different identified groups.

Depend on and change indirect proportion to client volume and activity.

Expenses that remain the same for the budget period, regardless of the activity level of the organization.

Expenses that directly affect client care.

Necessary expenditures that do not affect client care directly.

How to keep overtime budgets in check?

The budgeting process takes how many months?

Supplies, rental fees, maintenance costs, and equipment service contracts are all part of the _____ budget.

The difference between the amounts that were budgeted for a specific revenue or cost and the actual revenue or cost that resulted during the course of activities.