HCMT 311 Lander University Lander Memorial Hospital Paper

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HCMT 311

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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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