Health Care Accounting and Financial Statements Discussion

Health Care Accounting and Financial Statements Discussion

Discussion Topic

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Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to classmates or your faculty member.

 

Due Thursday

Review the 4 financial statements: balance sheet, income statements, retained earnings/owner’s equity, and cash flow statements. These statements are discussed in Ch. 1, “Introduction to Financial Statements,” of Accounting.  Health Care Accounting and Financial Statements Discussion

 

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Respond to the following in a minimum of 175 words:

  • Explain information that can be derived from each financial statement.
  • Explain what you think is the major purpose of the financial statements and the health care manager’s use of these statements. What decisions can be made from these statements?
  • Discuss how you will use financial statements in your health care career.

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HCS/380: Health Care Accounting

Wk 2 Discussion – Gathering Financial Information [due Thurs]

Discussion Topic

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Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to classmates or your faculty member.  Health Care Accounting and Financial Statements Discussion

 

Due Thursday

Review the last-in, first-out (LIFO) and first-in, first-out (FIFO) inventory methods discussed in Ch. 6, “Reporting and Analyzing Inventory” of Accounting.

 

Respond to the following in a minimum of 175 words:

  • Explain LIFO and FIFO inventory methods.
  • Provide 1 example of a business that uses LIFO and 1 example of a business that uses FIFO.
  • Explain why the businesses you identified might use a particular inventory method.

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HCS/380: Health Care Accounting

Wk 3 Discussion – Financial Ratios [due Thurs] Health Care Accounting and Financial Statements Discussion

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Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to classmates or your faculty member.

 

Due Thursday

If you have ever applied for a credit card or a loan, you have had your credit profile reviewed and you had to give information to the lender about your income and expenses. The lender used this information to perform a ratio to determine if you qualified for the loan. Essentially, the lender wants to know if you can afford the loan payments over a long period.

 

This same principle is applied to business. The financial information can be obtained from a health care organization by reviewing their financial statements, as we discussed in Week 1. Financial statements can tell a lender if the organization is making enough money (revenue) to afford the debt associated with a loan. Health Care Accounting and Financial Statements Discussion

 

Review the financial ratios discussed in Ch. 2, “A Further Look at Financial Statements,” and Ch. 6, “Reporting and Analyzing Inventory,” of Accounting.

 

Select 1 of the following financial ratios listed below to use for this discussion:

  • Current ratio
  • Debt to asset ratio
  • Free cash flow ratio
  • Price-earnings ratio
  • Profit margin ratio
  • Return on total assets ratio
  • Working capital ratio

HCS/380: Health Care Accounting

Wk 4 Discussion – Fraud [due Thurs]

Discussion Topic

Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to classmates or your faculty member.  Health Care Accounting and Financial Statements Discussion

 

Due Thursday

Accounting scandals and fraud, both in the United States and internationally, have ignited the debate over current laws, regulations, and accounting principles. The relative merits of generally accepted accounting principles (GAAP), a rules-based approach to accounting, and International Financial Reporting Standards (IFRS), a principles-based approach have been under scrutiny. Recently, the Financial Accounting Standards Board (FASB) announced that it intends to introduce more principles-based standards to improve general accounting principles and practices. Health Care Accounting and Financial Statements Discussion

 

Respond to the following in a minimum of 175 words:

  • Discuss the primary factors that contribute to fraudulent activity.
  • Identify a real-world example of an organization that has committed fraud. What happened and what were the legal ramifications?
  • Consider how the GAAP and IFRS principles apply to the example you selected.

HCS/380: Health Care Accounting

Wk 5 Discussion – Assets and Investments [due Thurs]

Discussion Topic

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Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to classmates or your faculty member.  Health Care Accounting and Financial Statements Discussion

 

Due Thursday

Businesses often use their profits (cash assets or revenue) to expand their portfolios, such as investments, which may include stocks, bonds, and capital expenditures. This can be used to increase revenue streams. They also invest for protection purposes so they don’t have all of their money invested in 1 place. According to Accounting, there are several reasons why a business must practice sound financial management when using its profits.

 

Select 1 of the business investment options below to use for this discussion:

  • Investing in stocks and bonds
  • Investing in other businesses or mergers
  • Expanding services (e.g., ambulatory care center, home health agency, or buying a physician practice)
  • Purchasing capital expenditures (e.g., MRI, PETScan, electronic medical records system, or other large purchases) Health Care Accounting and Financial Statements Discussion

 

Using your selected business investment option, respond to the following in a minimum of 175 words:

  • Explain the investment option.
  • Discuss what you might need to do during your analysis to decide to invest using the selected option.
  • Identify the financial statement you would use to help you make the decision.
  • Provide a rationale for why you think the health care organization would benefit from using their cash assets to invest in the option you selected.

 

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