Analyze the accounting for support department costs and allocations, including cost behavior and relationships, various cost models, budget creation, and managerial reports.

Congratulations! You are new on the job as a clinical department administrator at your local hospital. You are responsible for creating budgets, approving expenses, and maintaining the financial stability of your department. A new colleague hands you a file of financial statements and dashboard reports and says "Here you go! You're responsible for reviewing these quarterly and signing off for our department."

• What is your next step? What type of information will you look for in these financial statements and documents?
• You are the one approving that the reports are correct, but this is your first day on the job. You make a mistake in your analysis after signing off and sending the documents back to the Finance department. How do you correct this? Explain your thought process and action steps.

Reference

Answer rating: 100% (QA)

My next step would be to thoroughly review the financial statements and dashboard reports provided to me As a new clinical department administrator its essential to ensure that I understand the financ... View the full answer