1. What is the definition of "budgeting?"

2. Why is budgeting important?

3. List four prerequisites to budgeting

4. In the "management approach" to budgeting briefly describe:

Top-down budgeting Bottom-up budgeting

5. Name the four steps in the budgeting process

6. When evaluating budget performance:

Who should review the budget annually and evaluate the CEO?

Who should review senior management quarterly?

Who should review department managers monthly?

7. Once the budget has been reviewed and approved, what is the next step for the healthcare organization?