NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase

Grand Canyon University NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase-Step-By-Step Guide

This guide will demonstrate how to complete the Grand Canyon University NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase assignment based on general principles of academic writing. Here, we will show you the A, B, Cs of completing an academic paper, irrespective of the instructions. After guiding you through what to do, the guide will leave one or two sample essays at the end to highlight the various sections discussed below.

How to Research and Prepare for NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase                           

Whether one passes or fails an academic assignment such as the Grand Canyon University NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase depends on the preparation done beforehand. The first thing to do once you receive an assignment is to quickly skim through the requirements. Once that is done, start going through the instructions one by one to clearly understand what the instructor wants. The most important thing here is to understand the required format—whether it is APA, MLA, Chicago, etc.

After understanding the requirements of the paper, the next phase is to gather relevant materials. The first place to start the research process is the weekly resources. Go through the resources provided in the instructions to determine which ones fit the assignment. After reviewing the provided resources, use the university library to search for additional resources. After gathering sufficient and necessary resources, you are now ready to start drafting your paper.

How to Write the Introduction for NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase                         

The introduction for the Grand Canyon University NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase is where you tell the instructor what your paper will encompass. In three to four statements, highlight the important points that will form the basis of your paper. Here, you can include statistics to show the importance of the topic you will be discussing. At the end of the introduction, write a clear purpose statement outlining what exactly will be contained in the paper. This statement will start with “The purpose of this paper…” and then proceed to outline the various sections of the instructions.

How to Write the Body for NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase                         

After the introduction, move into the main part of the NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase assignment, which is the body. Given that the paper you will be writing is not experimental, the way you organize the headings and subheadings of your paper is critically important. In some cases, you might have to use more subheadings to properly organize the assignment. The organization will depend on the rubric provided. Carefully examine the rubric, as it will contain all the detailed requirements of the assignment. Sometimes, the rubric will have information that the normal instructions lack.

Another important factor to consider at this point is how to do citations. In-text citations are fundamental as they support the arguments and points you make in the paper. At this point, the resources gathered at the beginning will come in handy. Integrating the ideas of the authors with your own will ensure that you produce a comprehensive paper. Also, follow the given citation format. In most cases, APA 7 is the preferred format for nursing assignments.

How to Write the Conclusion for NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase                         

After completing the main sections, write the conclusion of your paper. The conclusion is a summary of the main points you made in your paper. However, you need to rewrite the points and not simply copy and paste them. By restating the points from each subheading, you will provide a nuanced overview of the assignment to the reader.

How to Format the References List for NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase                           

The very last part of your paper involves listing the sources used in your paper. These sources should be listed in alphabetical order and double-spaced. Additionally, use a hanging indent for each source that appears in this list. Lastly, only the sources cited within the body of the paper should appear here.

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Sample Answer for NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase

Re: Topic 2 DQ 1

Nurse leaders are critical for the healthcare environment. They are involved in the budgeting processes within a healthcare organization. These leaders are required to have insights into the operating and capital budgeting process and key factors. This discussion examines the information a nurse leader might need for approving a capital purchase.

Nurse leaders must be aware of the budgeting process, especially operating and capital budgeting. They play a critical role in identifying and planning for capital projects ( Rieter & Song, 2022). It is important for a nurse leader to understand that for a capital purchase to be done, they must have insights into the capital budgeting process. Capital budgeting involves the purchase of equipment and infrastructures in a healthcare environment, such as CR machines and robotic surgical systems (Zhang & Bohlen, 2023). Therefore, it is an investment that entails large capital funds over a long period (Kengatharan, 2016). Nurse leaders must understand various issues in capital budgeting before they can make a purchase. For instance, they must understand that the key elements of a budget are costs and revenues. They should appropriately budget for costs, monitor them, and adjust them accordingly to ensure positive impacts on the healthcare organization. Nurse leaders should also understand the fixed and variable costs of purchase and how they relate to the total costs. Additionally, they should understand the break-even analysis, which involves insights into when a project will pay its cost.

In conclusion, budget responsibilities involve the assessment of the adequacy of a budget for the healthcare organization. Nurse leaders are involved in the development of a budget since they must determine whether a specific budget is appropriate to meet the needs of the patients.

References

Kengatharan, L. (2016). Capital budgeting theory and practice: A review and agenda for future research. Applied Economics and Finance, 3(2). https://doi.org/10.11114/aef.v3i2.1261

Leger, J. M. (2023). Financial Management for Nurse Managers: Merging the heart with the dollar. Jones & Bartlett Learning.

Song, P. H., & Reiter, K. L. (2022). Fundamentals of Healthcare Finance. Gateway to Healthcare Management.

Zhang, R., & Bohlen, J. (2023). Healthcare business budgeting. https://www.ncbi.nlm.nih.gov/books/NBK589707/

Sample Answer 2 for NUR 621 Discuss the information you would need as a nurse leader before you could approve a capital purchase

According to an article published on GEP’s website, capital purchases can be also known as capital expenditure and are defined as funds used by a business to make substantial investments in long-term fixed assets (GEP, 2016). Before approving a capital purchase, a nurse leader must have a vast understanding of budgeting in order to develop expense estimates that will or will not be met during the budget year. The overall role of leaders in an organization are to create value for customers and suppliers of capital purchases. In order to do so, they must develop plans of operation and follow through to completion, and this ultimately defines good management when good budgets are created and followed through with. The three essential functions that must be subsidized before completing a capital purchase include functions such as finance, human resources, and information technology (Ross, 2020). Financial skills include budgeting, structure decisions, capital investment, cash management, and financial reporting. Ultimately, leaders should determine where the capital expenditure should be deployed and evaluate how to maximize residual income and return on investment.

References

Ross, T. (2020). Budgeting for Results. The Health Care Manager, 39 (1), 24-34. doi: 10.1097/HCM.0000000000000285.

What are capital purchases?. GEP. (2016). https://www.gep.com/knowledge-bank/glossary/what-is-capital-purchases#:~:text=Capital%20purchases%2C%20also%20known%20as,infrastructure%2C%20and%20furniture%20and%20fixtures.