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COMPREHENSIVE FINAL EXAMINATION IN FISCAL MANAGEMENT IN

NURSING ADMINISTRATION

ESSAY: ANSWER THE FOLLOWING BRIEFLY BUT SUBSTANTIALLY

1. Based on your experience:


a. Give your honest comment (both pros and cons) on the
decentralization of health services to the local government units and in
the delivery of your health services. How this situation affects your
productivity in relation to fiscal management? (For those who are
working in the government sector).
Decentralizing of health service would provide one decision making body to
establish rules regarding health care services. The decision will be faster and
accountability just in case can be blamed only to one body. It also needs to
require a select group to delivery the health care requirements of the people.
And because it is the only body in the government that is working, it entails
a lot of effort, minor problems has to be solved here too and therefore
tedious.
But decentralizing also can slow down health care delivery. Especially in the
suburbs of the provinces. People from these areas have to go to the central
unit to frequent what they want, and therefore can be tedious and
impractical.

b. Give your honest comment (both pros and cons) on the centralization
of the delivery of health services in your own organization. How this
situation affects your productivity in relation to fiscal management?
(For those who are working in the private sector).
I own a family business for more than three generations. We have more than
40 employees working since my grandfather was the one managing.
BESIDES MY FATHER, I am the decision maker in all department so I
guess everything that’s been done and implemented are carried out fast with
out channeling to different department heads. Being centralized can be tiring
too. Since every department of yours has to report and channel their
problems to you, it gives you power and awareness however. Since you are
aware that’s everything’s going on to the company. Same banana with the
delivery of health services in the private sector. It is tiring, every detail of
the legwork must be known by you but on the other hand, you are fully
aware of whats going on in the company.
2. Discuss how the course fiscal management may help you in your a) professional
development and b) personal development.
Fiscal Management provides budgeting and accounting support to the
Agency. The unit is responsible for development of the Agency's annual
budget, from initial planning to final passage by the General Assembly and
approval by the Governor.
Other duties include: monitoring Agency spending and payment of bills for
travel expenditures, equipment and commodities; timely deposit of Agency-
generated receipts including boiler, underground storage tank, and elevator
fees; filing necessary budget, performance revenue and expenditure reports
with the Governor's Office of Management and Budget, the Office of the
Comptroller, and the Office of the State Treasurer; maintaining fiscal
records for audit and review.

Truly, without proper management and control of finance, every agency or


business establishment or our own pockets, will drain and collapse in no
time.

1. Identify three major problems encountered by your own organization in relation


to fiscal management? Briefly discuss the root cause of the problem. What three
major productive measures do you suggest to help your organization reduce its
fiscal problems?
Too much expenditures is probably my main cause of the problem. Outflow
of the money is more and often than the income we are getting in. Solution.
Less expense. Discuss with your staff how important and necessary to
purchase this stuff and the availability of options., Options like other
competitive brands or other means to solve the problem.

Breakages, loss, theft. These are considered a liability in a company. It also


requires further expense if the company needs to purchase it too badly like a
machine or gadget perhaps. Solution. Information. All staff must be aware of
the reprecussions of breaking or losing things owned by the company. Some
impose punishments, others just reprimanding or requires the staff to replace
them.

Fiscal manager is incompetent. Ergo, the whole company suffers with this
plight. Solution. Change the fiscal manager. Ganun lang kasimple.
2. If given the chance to be the nurse administrator in the Nursing division in your
own organization, what area you shall give priority in the allocation of your
financial resources. Why? Justify your answer.
Giving priority for the allocation of financial resources varies from time to
time. There are a lot of things needed for the budget but to use them all, one
must think of emergency funding in case it would be needed.

Structural budget, as well as machines and supplies are important. Salaries


and staff compensations are also important, not to mention the training of
these staffs to be updated and be competent from their rival companies.
There/s licensing that can provide update and assurance from the public that
this nurse organization is complying to the governments’ health and safety
standards.

There’s so many more that a company needs budget allocation. That’s why
yearly, we review our budget proposal. It discuss there what amount is
allocated to which area, and which area should receive less.

3. Do not answer
4. Do not answer
5. Do not answer
6. As you evaluate the financial status of your own organization. What does it imply
in terms of:
a) operations (day to day) management
Personally, this is the most routinal chore but crucial to do. You have to
oversee daily and every input and output of finance. You have to check your
inventory and expirations if there’s any. You have to monitor for possible
damages, internally or external forces. You have to assist your staff if they
are doing to work assignments right. Mistakes can be costly too.

b) financing decisions
Financial decisions come from departmental heads. This is where we discuss
budget allocation, out sourcing funds, sponsorships, opening of company
stocks and shares to the public (IPO).

c) investment decisions
If the company earns that much in a year, leaders abd managers decide on
where to put their excess earnings. Others might suggest to pour it over their
company shares for a bigger holding. Others, would might wish to invest in
a new company or venture. Others, with an eye for assurance would opt to
have it cashed the earnings.
7. Explain this statement, “If we do what is right for the patients, financial well-
being of the organization will follow”.
That is true to any service oriented business. Anything that its being served
right will cause ripples. And soon enough, customers or patients will be
flowing in for more of that service. Unlike in the business of selling goods,
service oriented businesses is subjective, personalized and therefore unique.

8. Comment on the statement “Every management decision has financial


implications and every financial decision has management implications.”

Simple. This goes to show how important is management decision in every


financial aspect and vice versa. Without one, the other would suffer. If one
has failed, look back at the other, for sure theres a mistake there in
implementation.

EMAIL TO : peter_cagatao@yahoo.com.ph

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