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Accounting practices and principles are at the heart of financial management. To understand the financial transactions of health care organizations, it is necessary to understand the different types of accounting practices and how entries are made and items recorded using each practice.
• Write a 700- to 1,050-word paper in APA format comparing and contrasting the different types of accounting, namely accrual, cash flow, and fund accounting. Be sure to consider the following:• How are entries made under each type of accounting?• How does each type of accounting handle depreciation, if at all?• How is inventory accounted for?• Are there any differences between the organizations that adopt a particular accounting method?• What are the strengths and weaknesses of the various types of accounting?• Cite at least two sources other than your text.
Construct a monthly cash budget for the clinic for the period January through June 2006. What is the maximum monthly loss (cash shortfall) during the six-month planning period?
If you are planning on buying 1,000 shares of this stock next year, how much should you expect to pay per share if the market rate of return for this type of security is 9 percent at the time of your purchase?
In addition, Otter has tax-exempt interest income of $250,000 and makes distributions to Ellie and Linda of $50,000 each. Discuss the impact of this information on the taxable income of Otter, Ellie, and Linda if Otter is:
Examine the legal liability an accounting professional has, including how a CPA is protected. Differentiate between fraud and negligence.
What are the two ways a corporation can be classified as profit or non profit, majority or non majority, open or closed, and stock or non stock.
The stockholders' equity section of Milroy Corporation as of December 31, 2003, was as follows:
Earnings per share.Santana Corporation has 400,000 shares of common stock outstanding throughout 2010. In addition, the corporation has 5,000, 20-year, 7% bonds issued at par in 2008. Compute the proper earnings per share for 2010.
Machinery purchased for $72,280 by Carver Co. in 2008 was originally estimated to have a life of 8 years with a salvage value of $5,560 at the end of that time. Depreciation has been entered for 5 years on this basis.
Which of the following is not true about closing entries?
The ledger of JFK, Inc. shows common stock, common treasury stock, and no preferred stock. For this company, the formula for computing book value per share is?
Mary Houser has $1,200 overdue debt for medical books and supplies at Ken's Bookstore. She has only $400 in her checking account and doesn't want her parents to know about the debt. Ken's tells her that she may settle the account in one of two way..
Record any necessary journal entries in 2010, applying the expense warrenty accrual method.
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