Papers

health Care Finance Management: Key Concepts wellness mission is a unique entity in the economy and the centering of finances involves more interlinked complexities than other entities. In todays health wangle environment, health care organizations are face daunting and ch everyenging 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, pecuniary way 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 integrate articles in regard to financial reporting practices and ethical standards. Health Care financial 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 narratives 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 accrual basis accounting. Financial statement analysis focuses on liquidity, revenue, expense, profitability, and natural process ratios. Working capital management focuses on cash management, predict 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 indispensability to get a full essay, order it on our website: Orderessay

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