Papers

health Care Finance Management: Key Concepts health apprehension is a unique entity in the economy and the way of finances involves more interlinked complexities than other entities. In todays health safeguard environment, health care organizations are facing daunting and ch tout ensembleenging fiscal scenarios (Marcinko & Hetico, 2008). These challenges are caused by some(prenominal) contributing factors such as declining revenues, increasing cost, and high consumer expectations (Marcinko & Hetico, 2008). Therefore, financial oversight of health care has to be strategized to ascertain that all the complexities are addressed. In this paper the subject to discuss is financial management in health care with focus on the four elements and generally accepted accounting principles while combine articles in regard to financial reporting practices and ethical standards. Health Care monetary Management Health are financial management includes focusing on rising health care costs and the efforts to control costs, costs control issues with ethical overtones. Health care financial accounts include focus of the balance sheets, statement of operations, statement of changes in need assets, and the statement of cash flows.

The principles and practices of health care accounting focus on cash basis and accretion basis accounting. Financial statement analysis focuses on liquidity, revenue, expense, profitability, and drill ratios. Working capital management focuses on cash management, anticipation cash surpluses and deficits, accounts receivable management, and laws and regulations for billing compliance (Zelman, McCue & Glick, 2009). The Four Elements of Financial Management Baker and Baker (2008) state the four recognized elements of financial management are planning, controlling, organizing/directing, and decision-making. Planning involves identification of the objectives and steps that mustiness be taken to accomplish the organizations objectives (Baker & Baker,... If you extremity to get a full essay, order it on our website: Orderessay

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