N4455 Nursing Leadership and Management NURSING N4455-Module 3 Assignment 1: Financial Management Case Study vsp21(1)

Overview: Financial Management Case Study One of the important duties of a nurse leader is to manage personnel and personnel budgets. In this assignment, you will assume the role of a nurse manager. You will use given data to make important decisions regarding budgets and staffing. Some nurse managers have computer spreadsheets or software applications to help them make decisions regarding budgets and staffing. You will only need simple mathematical operations* to perform the needed calculations in this assignment because the scenario has been simplified. Furthermore, some data have been provided for you that a nurse leader might need to gather or compute in a real setting. Still, you will get a glimpse of the complexity of responsibilities nurse leaders shoulder regarding financial management. • To calculate the percent of the whole a given number represents, follow these steps: Change the percentage to a decimal number by moving the decimal twice to the left (or dividing by 100). Multiply the new decimal number by the whole. Example: What is 30% of 70? 30%= .30; (.30) × 70 = 21 • To find out what percentage a number represents in relation to the whole, follow these steps: Divide the number by the whole (usually the small number by the large number). Change the decimal answer to percent by moving the decimal twice to the right (or multiplying by 100). Date: N4455 Nursing Leadership and Managemen