Healthcare Finance - Answer: is the practice of finance, including both accounting and financial management, within health services (provider) organizations
Accounting - Answer: concerns the measurement, in financial (dollar) terms, of events that reflect the resources, operations, and financi...
, Healthcare Finance - Answer: is the practice of finance, including both accounting and financial
management, within health services (provider) organizations
Accounting - Answer: concerns the measurement, in financial (dollar) terms, of events that reflect the
resources, operations, and financing of an organization
Financial managment - Answer: provides the theory, concepts, and tools necessary to help managers
make better financial decisions
Business characteristics - Answer: -obtains financing from the marketplace
-uses the funds to buy assets
-operates the assets to provide goods or services
-sells the goods or services to create revenue
Pure Charity - Answer: refers to an undertaking for a charitable purpose only. The relief of poverty,
advancement of education, advancement of religion, promotion of health, the obtaining of good
government, and the accomplishment of that which is beneficial to the community in any other respect
are pure charities.
Primary role of finance - Answer: is to plan for, acquire, and utilize resources to maximize the efficiency
(and hence value) of the enterprise.
The Four C's - Answer: cost minimization
cash sufficiency
capital access
control of financial resources
3 categories of business organizations - Answer: proprietorship, partnership, and corporation (there are
also hybrid forms)
Advantages of Proprietorships and Partnerships - Answer: ease of formation, subject to few regulations,
and no corporate income taxes.
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