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Essay / Research Paper Abstract
This 5 page paper provides an overview of some central questions regarding health care finance and the development of accounting practices in health care organizations. This paper integrates a view of variations in accounting practices and the impacts of for-profit and non-profit status. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: MH11_MHHMONur.rtf
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Unformatted sample text from the term paper:
Research Compiled by 10/2001 Please The Purpose of Financial Statements In Chapter One of
Cleverlys (1997) Essentials of Health Care Finance, the author considers the importance and purpose of financial statements in providing a basis for decision-making in the organizational setting. For
the health care industry, financial statements become a way of demonstrating change, distinguishing health care organizations from others for investors, and improving planning through the process of financial assessments and
development. The creation of financial information, then, is commonly based on the principles of cost accounting. Cost accounting was developed out of organizations needs to
understand cost and revenues as they effect or are effected by volume. For example, a health care company in which the volume increased should expect increases in cost output
and hope for increased revenues through the process. This demonstrates the way in which cost and revenues are impacted by volume. At the same time, if revenues are down
and costs remain the same, it is perceivable that companies could decrease volume because the lack of overhead. If this is the case, this is an example of how
volume is impacted by the effects of cost and revenues. . Hunt (1996) provides information in regards to cost accounting for a number of obvious reasons, but the most
significant utilization of information provided through cost accounting is to impact decision making processes. Although the documentation provided by cost accounting concepts provides information that could impact future company
procedures, it must be recognized that the projections created from cost accounting methods are not based in anything concrete or definitive. Projections are inherently uncertain and must be considered
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