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From The CriticsReviewer: Brenda B Harton, MSN, RN (University of Phoenix)
Description: An introductory in-depth guide for nurses who have responsibility for budget preparation, this fourth edition builds on each of its predecessors. Originally published in 1984, this edition of the book has been updated as healthcare management has evolved and now includes timely discussion of key considerations when budgeting for clinical information systems and the nursing shortage.
Purpose: Because many nurse managers learn budgeting on the job, the book assumes no previous financial management experience and presents general concepts of budget preparation to assist nurses in preparing and speaking knowledgably about the budget. Multiple types of budgets are discussed, including operating, capital, long-range, program, and cash. The book clearly presents concepts that can be tricky for nurses who have budget responsibility.
Audience: Designed for nurses in any setting, including nursing education, acute and long-term care, and nurse entrepreneurs, the book is specifically targeted at managers who are responsible for preparing and administering a budget and students who are pursuing graduate degrees in nursing administration. Concepts are also applicable for non-nursing managers. Both authors possess credentials in the areas of financial management and nursing, including academic and practical application perspectives.
Features: Each chapter is self-contained and provides narrative and examples to illustrate principles of budget preparation. Personnel issues, forecasting, benchmarking, and variance analysis are examined, along with sample forms, many of which are completed as example worksheets. The scope of the book is limited in that additional resources are needed to review other financial concerns such as development of business plans and marketing. However, this fourth edition provides clear insight into budgeting parameters for contemporary practice.
Assessment: With great depth, the book establishes itself as an important addition to the library of any nurse manager, and provides guidance in helping the manager communicate and collaborate with those in an organization's financial venue. The importance of nursing knowledge and input in preparing budgets is emphasized as only nurses have the expertise to know the resources that are required for bedside care.