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HCMT 311 Lander University Lander Memorial Hospital Paper

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Economics
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Jasmine Azeem
Dr. David Russ
HCMT 311: 12
Assignment 2
September 8, 2015
Lander Memorial Hospital
Part 1
Financial Statements’ Terms:
1. Current assets: Is that are items from a balance sheet like cash and other assets that are
expected to be converted to cash within a year.
2. Net Accounts Receivable: Is the amount of money that the company thinks it will
collect.
3. Cash and Marketable Securities: Are liquidated assets that are invested in the business
due to left over capital.
4. Inventories: Is the value of the company’s current assets that are finished goods ready
for sale or work in progress.
5. Investments: The action of putting in money for profit or material result into the
company.
6. Net Property, Plant, Equipment: The combined value of property, plant, equipment,
and other fixed assets that are not used up during normal operation of the business.
7. Current Liabilities (Accounts Payable): The Amounts that are due to the creditors
within a year. Accounts payable is a short-term debt that must be paid off within a short
period of time.
8. Long-Term Debt: The Loans and leasing obligations that can be due within a year or
more.
9. Fund Balance/Equity: The measure of the company’s earnings that it made, which
represents the difference between assets and liabilities.
10. Patient Services Revenue: A type of Revenue that the health center collects from
treating their patients.
11. Contractual Deductions: The Deductions that are paid from revenue upon agreement.
This shows what every contractor pays the firm for service.
12. Net Patient Revenue: The Expected amount of money collected from patients.

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13. Operating Revenue: The Sales that are connected with a company’s day-to-day
operations.
14. Service Expenses: The cost or expense associated with the company performing a task.
15. Provision for Bad Debt: An amount that is owed to the company and is unlikely to be
paid off.
16. Depreciation: A value of an asset that is reduced in due time from wear and tear.
17. Interest: Is the amount that is being paid regularly at a particular rate to repay a debt
which is added to the principal amount.
Description Status:
A. Based on the financial statements, Lander Memorial Hospital is performing fine
financially, but, there is a concern for the organization. According to the firm’s
income statement, there were an increase of revenues from 2008 to 2012. Also,
their net income from 2008 to 2012 is positive, which indicates that the
organization is profitable in making some earnings. Unfortunately, in 2009 the
company’s non-operating revenue was a $142,000 loss. The non-operating
revenue increases to $11,059,000, but, reduces to $6,910,000 in 2012.
Net Income Report:
Net Income is the firm’s total earnings after expenses, taxes, and cost of goods sold for an
accounting period.

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Jasmine Azeem Dr. David Russ HCMT 311: 12 Assignment 2 September 8, 2015 Lander Memorial Hospital Part 1 Financial Statements’ Terms: 1. Current assets: Is that are items from a balance sheet like cash and other assets that are expected to be converted to cash within a year. 2. Net Accounts Receivable: Is the amount of money that the company thinks it will collect. 3. Cash and Marketable Securities: Are liquidated assets that are invested in the business due to left over capital. 4. Inventories: Is the value of the company’s current assets that are finished goods ready for sale or work in progress. 5. Investments: The action of putting in money for profit or material result into the company. 6. Net Property, Plant, Equipment: The combined value of property, plant, equipment, and other fixed assets that are not used up during normal operation of the business. 7. Current Liabilities (Accounts Payable): The Amounts that are due to the creditors within a year. Accounts payable is a short-term debt that must be paid off within a short period of time. 8. Long-Term Debt: The Loans and leasing obligations that can be due within a year or more. 9. Fund Balance/Equity: The measure of t ...
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