Recall that financial accounting focuses on communicating organizational-level data in the business’s financial statements aimed at external users, while managerial accounting focuses on creating comprehensive departmental plans and forecasts to be used internally by managers.
To perform a meaningful analysis of the three most common financial statements (income statements, balance sheets, and cash flow statements), health care managers must use financial ratios. Financial ratios are used to determine an organization’s profitability, asset management, and liquidity. They can also inform budgeting decisions and be used for comparative purposes (for example, to compare an organization’s current results to historical results or to the results of peer organizations).
For each scenario, consider how you would proceed if you were the healthcare manager of the organization. Be sure to include the following details to justify your thinking:
Do you agree with reasoning and decisions made in each scenario? Why or why not?
Are these scenarios in the realm of managerial accounting, financial accounting, or both? Why do think this?
How would you proceed in each situation? What information would you want to have, and why?
Here are the three scenarios for your consideration:
Abraham has just taken a new job as a health care manager at a large hospital. During the interview process, he was told that one of his responsibilities is to analyze the organization’s financial statements and determine the average collection period (ACP). He determines that the hospital’s ACP is 43 days. The industry average is 23 days. Abraham emails his superior asking if this is a cause for concern.
Mimi is the healthcare manager at a physical rehabilitation facility that has recently expanded its facilities to accommodate more patients. At the annual budgeting meeting, Mimi suggests the organization continue using a fixed budgeting strategy for the year ahead.
Makayla is told by the head of her department that their unit must increase its return on assets (ROA) ratio from 3% to 5% by next year. If they do not, they risk losing certain benefits. Makayla goes to her office and thinks about how she could do this. First, she thinks about ways to increase revenue. Then, she notices that there are several assets that produce very little revenue. She suggests selling these items to help the department achieve its target ROA.
Your paper should be two to three pages in length (not including the required title page and reference pages) and conform to APA standards. Include at least three scholarly references in addition to the course content.
Mimi is the healthcare manager at a physical rehabilitation facility that has recently expanded its facilities to accommodate more patients.
Struggling with a similar assignment? Don’t know where to start? Don’t have time to work on this? Get a high-quality paper written for you from scratch – PLAGIARISM FREE, guaranteed to get you a good grade. To get started, please click on the Submit Your Instructions at the bottom of the page.
Need Writing Help? Our writing specialists are here 24/7, every day of the year, ready to support you! Instantly chat with an online tutor below or click here to submit your paper instructions to the writing team.
More than just an assignment.
Who is this homework service for?
* If you are having a really hard class and want to get through it, then this is for you.
* If you have a medical emergency or someone close to you has a medical emergency and you don’t think you’ll be able to turn your assignment on time, this is definitely a service you could use.
* You can use us if you are having a tough Professor who won’t give you the grades you deserve.
* If you have a tight work schedule and you are getting points deducted for not submitting assignments on time.
* English might not be your first language and you feel like you are being left behind in class because of it.
* If you have a large project coming up and don’t think you have enough time to get it done well, definitely reach out to us.
Hi there! My name is Anna.
Super stoked you are checking us out! We would like to help you with your assignment. We just need a few things from you:
* The full assignment instructions as they appear on your school account.
* If a Rubric is present, make sure to attach it.
* Any relevant weekly readings or learning resources.
* Include any special announcements or emails you might have gotten from your Professor regarding your assignment.
* Any templates or additional files required to complete the assignment.
If your assignment is somewhat complex and you need to explain it, please don’t hesitate to reach out to me via live chat.
Frequently asked questions
How soon can I get my paper done?
It depends with your deadline. If you need your paper completed in 3 hours, we will deliver it in that time. All you need to do is indicate your deadline in our custom order page here. Alternatively, if you are sending us your instructions via email, please be sure to indicate your deadline.
Will it be completely original? I don't want to be caught in a case of Academic Integrity Violation.
We are as paranoid as you are. Maybe even more! And we understand that the greatest sin you can commit in your academic journey is plagiarizing your academic work. To that end, we have made sure that we check and double-check our papers using high quality plagiarism detection tools such as SafeAssign and Turnitin before submitting the paper to you.
Who is my writer? Is he/she a native English Speaker?
All our writers are native English Speakers. That is not to say that ESL writers are not good, we just prefer hiring native writers because we want the very best people working on your paper. This might mean paying a little bit more for your paper as opposed to when you pay a foreign company whose writers are non-native English Speakers.
What if I need revisions? Will your charge additional for this?
Of course not! If you do happen to require a revision on your paper, our team will handle it for you free of charge. Matter of fact, we won’t rest till you are happy with your paper. So, ask for as many revisions as you need, it’s completely FREE!
Will you give me my money back if I don't like my paper?
We have very few instances where we delivered a paper that a client didn’t fall in love with. But if it so happens that you don’t like your paper for any reason whatsoever, we’ll refund your money back no questions asked.
I have more assignments after this, can you help me with those too?
Of course! And what’s even better is that we can reserve a writer permanently to work on your entire class. This comes in handy for projects which build up on each other and where you need just one writer, one writing style.