Financial Tool.edited

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ashford university

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FINANCIAL TOOL 1

Financial Tool

Name

Course

Date of Submission

FINANCIAL TOOL 2

One of the critical components of any organization is its financial well-being. The crucial

importance of the financial well-being of an organization can be established by the fact that

aspect enables them to manage their operations. Furthermore, most organizations conduct their

operations to attain financial benefit, thus making it further necessary. Similarly, the financial

well-being of the healthcare organization is also highly crucial as it not just helps them sustain

but carries out research and development to ensure the overall benefit of the society (Finkler et

al., 2018). Therefore, the financial well-being of all the organizations is crucial that includes the

healthcare organization. The accounting tools play an essential role in ensuring the suitable

financial well-being of the organizations, and the financial statements are considered a crucial

accounting tool.

The financial statements come in different forms, such as balance sheets, cash flows,

equity statements. All of the discussed accounts depict the position of an organization in context

to financial well-being (Finkler et al., 2018). One of the prime examples being that the balance

scorecards present the balance between the financial and non-financial assets of the organization.

If a balance between them is not maintained, it will develop sustainability challenges, which is

especially relevant in the case of healthcare organizations (Click & Dobbins, 2020). Healthcare

organizations intend to offer health-related services, and prominently, finance is not their first

preference. However, suppose a balance is not maintained in terms of finance. In that case, the

organization will not be able to meet the requirements of the healthcare professionals and would

develop employee turnover intention leading to compromising the services.

Similarly, other includes new tools for better healthcare services will also be

compromised. They would lead to further challenges for the services being offered (Click &

Dobbins, 2020). Thus, it is essential to ensure that the organization maintains the financial and

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FINANCIAL TOOL 1 Financial Tool Name Course Date of Submission FINANCIAL TOOL 2 One of the critical components of any organization is its financial well-being. The crucial importance of the financial well-being of an organization can be established by the fact that aspect enables them to manage their operations. Furthermore, most organizations conduct their operations to attain financial benefit, thus making it further necessary. Similarly, the financial well-being of the healthcare organization is also highly crucial as it not just helps them sustain but carries out research and development to ensure the overall benefit of the society (Finkler et al., 2018). Therefore, the financial well-being of all the organizations is crucial that includes the healthcare organization. The accounting tools play an essential role in ensuring the suitable financial well-being of the organizations, and the financial statements are considered a crucial accounting tool. The financial statements come in different forms, such as balance sheets, cash flows, equity statements. All of the discussed accounts depict the position of an organization in context to financial well-being (Finkler et al., 20 ...
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Tags: balance sheets critical components Financial Tool financial benefit healthcare organization cash flows