C.A. 1: Fiscal Planning in Nursing Management

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Introduction

Nurse managers collaborate with the finance department to set targets and design the budget for their nursing units, underlining the need to be familiar with the budgeting process, especially the management of capital and operating budget. Evaluation of outcomes, implementation techniques, consideration of activities and data collection are among the factors that nurse managers contemplate on before preparing a budget. Put simply, all of these elements ensure that they guarantee fiscal accountability. It is also their responsibility to ensure they use resources wisely, through being accountable for the budgeting process, assuring the longevity of an organization. According to the Budget Theory, nurse managers collect data and monitor the plan, letting them conduct an ethical process.

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