The role of finiacial statement

User Generated

arinru0609

Health Medical

Description

400 to 600 words

Understanding basic accounting principles is imperative to the health care manager role. Reading a balance sheet and recognizing the importance of cash flow are skills that are compulsory to this function. With this in mind, discuss the following:

  • Discuss the most important headings in a balance sheet and what the summary numbers mean.
  • Explain 4-5 reasons why cash flow is important to a health care organization.

Use 2 references to validate your response. Validation means that references have been used to prove your assertions and statements. Academic work is not what is thought to be true, but is what is researched to be true.

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Explanation & Answer

Attached.

Running Head: COST ACCOUNTING FOR HEALTH CARE ORGANIZATIONS

Cost accounting for healthcare organizations
Student’s Name
Institution of Affiliation
Course
Date

1

COST ACCOUNTING FOR HEALTH CARE ORGANIZATIONS
The Most Significant Titles in a Balance Sheet and what the Summary Indicates
As a manager of a healthcare facility, it is important to poses the knowledge of
accounting and the basic accounting principles to effectively discharge the functions of a
healthcare manager. The understanding of the balance sheet is imperative to ensure that the
assets and liabilities of the healthcare organization are properly managed and maintained in good
condition. This calls for the healthcare manager to properly read and comprehend a balance sheet
and recognize the significance of cash flow.
The name of the organization details the type of entity the balance sheet refers to. The
title heading illustrates ...


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