The role of financial statements

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Reference no: EM133081630

1. The Role of Financial Statements

Understanding basic accounting principles is imperative to the health care manager role. Reading a balance sheet and recognizing the importance of cash flow are skills that are compulsory to this function. With this in mind, discuss the following:

· Discuss the most important headings in a balance sheet and what the summary numbers mean.

· Explain 4-5 reasons why cash flow is important to a healthcare organization.

2. Understand How Reimbursement Contributes to the Need for Cost Containment

You are the manager in a healthcare organization, and you have been directed to come up with a plan to cut your budget by 5%. Discuss the following:

· What expenses will you cut? Justify the cuts you choose.

· Describe how these cuts will affect patient-centered care.

o Include both positive and negative effects.

3. Analyze the Basics of Financial Principles

You are the chief financial officer (CFO) for an organization and need to discuss with fellow C-suite executives that cost cutting is not the only answer to profitability. Prepare for the next manager's meeting by responding to the following prompts:

· Explain how a capital budget and a return on investment contribute to sustainable growth.

· Clarify the role that risk analysis plays during capital investment decision making.

Reference no: EM133081630

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