developing yearly budget

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As the office manager for Dr. Smith and Brown’s two offices, you are responsible for the developing the yearly budget. To identify the cost related to staffing, you are tasked with annualizing the staff for both offices. In addition, you must convert the employee’s net paid days worked to a factor.
Section One:
Calculate the staffing for Dr. Smith and Browns’ two offices: Spruce Street office and the Birch Street Office.
Section Two:
Convert the net paid days to the annualized factor.
Section Three:
Discuss the regulatory requirements about staffing. Include a correlation of staffing to cost.

 

Sample Solution 

An organization’s anticipated income and expenses for a full year are outlined in the yearly budget. The process of developing an annual budget entails balancing the revenue streams and expenditures of a company. An yearly budget is sometimes expanded to include a balance sheet and cash flow statement, especially for non-individuals. Individuals, businesses, governments, and other sorts of organizations that need to monitor financial operations employ annual budgets. Annual budgets are deemed balanced if anticipated expenses and anticipated revenues are equal. If expenses are higher than revenues, it is in a deficit; if the opposite is true, it is in a surplus.

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