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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.
May 2009
Monday May 25, 2009
Posted by: Barbara Fry at 8:29PM EST on May 25, 2009
We are a relatively small ($5 million in revenue), privately owned management services organization with no need for an official audit of financial statements. When the company was founded, cash basis was chosen as the method for accounting. With the company's growth, both past and projected, I believe that accrual basis accounting would more accurately reflect monthly revenues. I would be interested in hearing any experiences or recommendations on doing a organizational transition from cash to accrual basis.
Monday May 18, 2009
Posted by: Dino at 12:09PM EST on May 18, 2009
Looking for some clarifications on 2 issues on the finance handouts that I feel are outdated; p215 - "prioritize objectives in operating plan based on community needs and not on organizational profitability"? P245 - Prioritizing replacement capital (versus new equipment capital) - "if the organization funded the equipment's depreciation properly, funds (should) exist for replacement capital"? Do these comments make sense? Appreciate a quick comment. Sunday May 17, 2009
Posted by: Wendy Rosher at 2:10PM EST on May 17, 2009
Do we need to know how to calculate PV's on the BOG exam? Do we need to bring a financial calculator? Or do we just need to understand the concepts and how it is utilized?
Wednesday May 13, 2009
Posted by: Nicole Gonzales at 12:05PM EST on May 13, 2009
What is the difference between an accounting break-even point and an economic break-even point? How important is it from a manager's perspective to understand the economic break-even point and why? How do you calculate each?
Posted by: Patricia Griffith at 9:37AM EST on May 13, 2009
Explain what the following types of budgets are and when they should be used: top-down versus bottom-up; incremental versus zero-based; comprehensive versus limited-in-scope; fixed versus flexible; discreet versus continuous.
Posted by: Rita Anderson at 1:24AM EST on May 13, 2009
In slide #72 Defining Capital Expenditure, Finance I, one of the definitions is that the item costs more than a certain amount of money and that could range between $500 to $5,000 but that most hospitals set it at $2,000 to $3,000. But it didn't really explain the rationale for one amount over another. Ours is set at SR500 (in Saudi Arabia) which is only $132.00. Does anyone know the pros and cons of a lower amount like $500 versus a higher amount and does anyone have any suggestions about how one would approach increasing the amount in the organization since $132.00 seems very low. Thanks.
Thursday May 7, 2009
Posted by: Sunil Thummala at 12:28PM EST on May 7, 2009
I believe larger hospitals are better off with vertical integration: buying medical practices, long term care centers, and if possible a HMO/PBM to act on both demand and supply side. On the other hand, smaller hospitals are well of with a horizontal integration strategy to achieve economies of scale. What are your thoughts?
Wednesday May 6, 2009
Posted by: Sunil Thummala at 12:04AM EST on May 6, 2009
Pros: A single payer system is more likely provide insurance to all citizens leading to less uninsured patients and so less bad debt
Cons: A single payer system gives extreme power to buyer of services i'e payer, leading to low revenue per patient In my opinion single payer system will be beneficial to hospitals. What are your opinions? Thanks,Sunil Thummala |
