Paper details 1. (Introduction to Key Financial Statements- Chapter 5) The outside reading article

Jul 6th, 2015
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Paper details 1. (Introduction to Key Financial Statements- Chapter 5) The outside reading article entitled, “Clear as Glass” by Robert M. Valletta, briefly discuss the information in the article and relate it to financial information that you are currently receiving (Department Budget Reports, Dashboards, Financial Reports etc.) and comment on how the data can be improved. 2. (Valuation of Assets and Equities- Chapter 6) Briefly discuss the challenges that are faced by users of GAAP valuation methodology (based on historic cost) are encountered when using this financial data for insurance coverage, sale of Physician practices and equipment replacement? 3) Discuss the differences between cash and accrual accounting. What is one significant advantage of accrual accounting over cash accounting? 4) True or false? Not-for-profit health care organizations segregate their net assets between paid-in capital and retained earnings, with paid-in capital representing donor contributions for

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According to the article Clear as Glass by Robert M. Valletta, transparency requires financial information to be accessible, content-rich, timely, and narrative. This requires that non-for-profit hospitals and health systems report detailed financial information quarterly. In doing so, they require internal controls to reduce the level of complexity throughout the organization by creating standardized processes. Charitable organizations in a post-Sarbanes-Oxley world are equally being held to the same standards of corporate governance. There is increased pressure from donors and other stakeholders on healthcare financial managers to ensure the accuracy of financial statements and disclosures. For this reason, charitable healthcare organizations should ensure that have balance sheet that shows the financial position of the firm. Operating statement compares an organizations revenues

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