It is a method of establishing budgeted costs to compare actual costs. This method is very useful to the manager in order to control costs. 

Bottom-up planning is when suboridinates/lower management develop a plan and submit it to senior management for review and approval.

Assessing the external envrionment is the fourth step in the planning process.

What are the steps in the budgeting process, and how would you describe each step, in sequence?

The prerquisites to planning include: (Select all that apply)

Top-down panning is one of the classifications of management approach in which senior management develop the plan with high involvement from lower management.

Forces manager to anticipate where they want the healthcare organization to be in 3 up to 10 years, to identify the resource that will be necessary to get there, and to preview the provision of healthcare services at the end of the planning horizon.

______________ is the cost of carrying more inventory than demand calls for. 

Planning consists of which of the following?

Is one of the major steps in the financial analysis, refers to using perspective and judgment in decision making.