How would one go about "creating a budget"? My professor has provided this template for us to submit a budget but I don't even know where to start? (I've attached the templated from the professor to this question.) This is a self-paced mandatory online accounting course and I am totally lost. Thankfully, this is for a study guide and not for a grade but it's supposed to prepare us for the final. I am a nurse and never taken an accounting class ever.

The instructions state that the pretend budget should place emphasis on the three following factors:

1. the budget showing a profit and net profit margin of 5% of gross revenues or greater;
2. descriptions in the assumptions that tie back to the numbers in the budget and make sense (see additional information below); and
3. the relative proportion of expense categories to each other being generally realistic when compared with real-world healthcare organizations (for example, salaries and benefits costs that equal only 10% of total expenses would not be realistic, and neither would it be realistic to have a budget with medical supplies expense for the year of $100,000 and gross medical supply revenue of $25,000 or contractual allowance of $2,000,000, with gross revenue of $2,100,000)

Examples and/or a step-by-step explanation would be helpful for me, my professor said he cannot show previous student examples as he does not have permission to share their work. It is very frustrating to have no background knowledge and no example to go off of! If I need to break this into smaller questions, i understand. I am just at a lost and my professor will not help and does not offer office hours this week or next due to an emergency.

TEMPLATE SAMPLE

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