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Essay / Research Paper Abstract
This 4 page paper is based on a case study provided by the student. The financial condition of Omega Health is assessed by looking at the accounts provided and explaining some of the issues and limitations. The bibliography cites 2 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEomegah.doc
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Unformatted sample text from the term paper:
break even position. In order to provide services and make investments it is necessary for the organization to generate a net positive income, this is needed for investment new equipment
and services. The financial position of the organization is one that may raise some concerns when looking at the revenue statement. This shows a net loss for the two years
shown; 2008 and 2009. One issue in 2009 that may impact on this is the decrease in the total revenues, showing a decrease in almost all sectors of revenue production.
Where there is a decrease in revenues there may be a lag on the implementation of the cost cutting associated with the lower demand on services. However, when
looking at the net income (income after all expenses) the profit or loss shown here is a theoretical or allocated profit or loss and does not relate to the actual
cash flow due to the nature of the accounting process. When looking at the financial position of the firm it is important to not only look at the revenues it
as the cash flows, as it is cash flows that are needed to keep the organization going. The cash flow shows a different position, with as decrease in cash
flows in 2008, but an increase in 2009. The reason for this is that not all items that are accounted for in the revenue account relate to actual cash flow
in the same year. For example, if a capital purchase is made the outflow of cash to purchase it will occur in a single year (assuming outright purchase). However, in
line with the matching concept the cost of the items will be expensed over a number of years, reflecting the use of the capital purchase over those years (Elliott and
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