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Finance
This area deals with the planning, development, establishment, analysis, and assessment of financial management processes for an organization's capital, budget, accounting, and related reporting systems.
Friday March 19, 2010
Posted by: Susan Peters Mitchell at 12:50PM EST on March 19, 2010
Name and descibe 5 types of budgets.
Answer: Incremental versus Zero Based Budgeting- only increases vs. rejustifying everything Comprehensive versus Limited in-Scope budgeting - Comprehensive budgeting integrates all the budgets into one document (rev, exp, and capital) verses only parts of the budget Fixed versus Flexible Budgeting – volumes do not change verses variable costs with volume Discrete Versus continuous Budgeting – lose all income not used verses carrying to the new year Top down verses bottom up- dictated verses participatory
Thursday March 18, 2010
Posted by: Catherine Andrews at 9:46AM EST on March 18, 2010
Wednesday March 3, 2010
Posted by: Susan Mangini at 4:46PM EST on March 3, 2010
The following are strategies used to manage hospital cash flows except: 1. Payment of employees every two weeks or every month. 2. Pay vendors when the supplies or bill are received. 3. Minimize employee wage & supply expense through exploring ways to accomplish more work with fewer resources. 4. Pay vendors only when the bill is due. Answer: #2. Source: The Financial Management of Hospitals and Healthcare Organizations, p.204. Monday March 1, 2010
Posted by: Pirus Pradithavanij at 10:22AM EST on March 1, 2010
Organizations will have different cost allocations bases on the following decisions EXCEPT; A. Allocaton method B. Allocation base C. Responsibility centers D. Approved budget
<D : Manual for the Board Governors Examination in Healthcare Management p.54 >
Tuesday February 16, 2010
Posted by: Nicole Leonard at 5:54PM EST on February 16, 2010
Monday January 25, 2010
Posted by: Teresa Mirwald at 7:34PM EST on January 25, 2010
Although, I understood this section, it is very difficult to apply to my facility. Not being able to apply it to my daily work life makes it difficult to remember. As a DoD/VA facility our financing and funding are entirely different. We do not use any of these processes; nor do we use ratios. We do have financial statements, capital purchasing pathways etc. We do have to work within a budget and can only fund certain items; so we do deal with resource scarcity and must justify what we do. Many of the concepts are there, but the vehicles we use are different. This section will be difficult to study.
Sunday January 24, 2010
Posted by: Andrew Gnann at 5:59PM EST on January 24, 2010
In my organization we annually perform a zero based budgeting process. We find that "peeling" back the layers of the onion are very beneficial to understanding the various operational and systematic variances that occur throughout a fiscal year. While it is very complicated and time consuming we annually uncover various opportuniites for improving financial performance that may not have surfaced without zero based budgeting.
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