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Budgeting This paper ex

Among the major statistical forecasting procedures are the following: (a) trend line projections; (b) cyclic demand projections; (c) curvilinear regression projections; and (d) exponentially weighted moving average projections. The first three of these proceduresłtrend projections, cyclic demand projections, and regression projections ł are used in the development of the in-patient loads for the hospital for 12-month periods. Trend line projections and cyclic demand projections have proven to be particularly useful (Evans, 2002).

Budgets and budgeting must be considered in two conceptual contexts. First, a budget may be considered as a noun. When considered as a noun, a budget is a detailed financial plan for an organization that (a) describes financial resources expected to be available to an organization during the period covered by the budget, (b) identifies anticipated sources of the financial resources, and (c) provides a plan for the allocation and use of the identified financial resources (Evans, 2002).

Additionally, budgeting must be considered as a verb. When budgeting is considered as a verb, budgeting is the process by which a budget is created. There exist a variety of budget types, and a variety of processes by which budgets may be created. The most relevant formats for operating budgets are (a) objects of expenditure, (b) performance, (c) program, and (d) zero-based (Evans, 2002).


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