Analyze the accounting for support department costs and allocations, including cost behavior and relationships, various cost models, budget creation, and managerial reports.

Congratulations! You are new on the job as a clinical department administrator at your local hospital. You are responsible for creating budgets, approving expenses, and maintaining the financial stability of your department. A new colleague hands you a file of financial statements and dashboard reports and says "Here you go! You're responsible for reviewing these quarterly and signing off for our department."

• What is your next step? What type of information will you look for in these financial statements and documents?
• You are the one approving that the reports are correct, but this is your first day on the job. You make a mistake in your analysis after signing off and sending the documents back to the Finance department. How do you correct this? Explain your thought process and action steps.

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