Explain what is a budgeting process•Discuss how to monitor budgetary performance during the year•Explain what a variance analysis is, why it is important, and give an example

1. Maureen Lovelace is a nurse manager of the Transitional Care Unit at a large metropolitan area hospital.One of her Registered Nurses retired and a replacement was needed. The position was posted on Indeed.com and Xante Clarke, a Registered Nurse at another hospital, responded to the posting.Maureen Lovelace reviewed Xante\’s resume and based on her educational background and experience determined she would be a great candidate for the position.The interview was setup and Xante arrived on time, appropriately dressed, and carried a copy of her resume, a pen, note pad, and her RN license with her.Maureen forgot she had setup the interview and was in a meeting at the time for the interview. Xante was asked Xante to wait for an hour until she was finished with her meeting.Maureen rushed from her meeting to the conference room where Xante was patiently waiting, took off her white coat to reveal a very low cut blouse which had coffee stains in the front.Maureen introduced herself, asked Xante what her name was, asked her to pronounce it again, thanked Xante for coming for the meeting and started with the interview questions.Here are some of the questions Maureen asked Xante: You are responsible for assisting managers in various departments to develop and manage their budgets. These colleagues are not as familiar with the budgeting process as you. They are very confused about how to monitor budgetary performance during the year, and how to do a variance analysis. You want to provide some training in the budget process and so you schedule a budgeting orientation meeting to provide an overview of the budgeting process, how to monitor budgetary performance during the year, and how to do a variance analysis.•Provide an introduction paragraph of what your assignment will be•Explain what is a budgeting process•Discuss how to monitor budgetary performance during the year•Explain what a variance analysis is, why it is important, and give an example of  

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