itaIf you were assigned to prepare a capital expenditure budget request to add a retail pharmacy in the hospital, which two individuals from your department(s) would you want to have on your team to help you? How would you utilize them to help you? Justify your response and include a minimum of one scholarly reference to support your answer. Respond to at least two of your classmates’ posts.
Capital expenditure budget is An amount of money dedicated for capital items or permanent assets such as land, buildings, equipment, and so on, these are projected to generate revenue in the future. A budget request to add retail pharmacy in the hospital will require a budget plan prepared for an individual capital expenditure project. A retail pharmacy is expected to generate income upon its completion. I will require the support of the Budget Financial Officer and the Board of Director. The Budget financial officer will assist us in aligning capital spending with long term organizational objectives. Focus capital investments where they will have maximum business value. The BFO can employ data driven process. The Board of director can reach stakeholders approval about the new budget request and about organization’s priorities. And employ processes prioritizing capital projects and allocating capital funds.
* Capital Expenditures is referred as amount of money needed to spend on capital items or fixed assets such as land, buildings, roads, equipment, etc. that are projected to generate income in the future. Capital expenditures to be budgeted include replacement, acquisition, or construction of plants and major equipment. Capital Expenditure Budget is plan prepared for individual capital expenditure project
A capital budget, on the other hand, involves an organization's proposed long-range major projects.
How to align capital spending with long-term organizational objectives * Methods for focusing capital investments where they will have the greatest...
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