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MHA 706 MIDTERM- LORD EXAM 2024/FINANCIAL MANAGEMENT MIDTERM/ LATEST 2024 WITH ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS/ALREADY GRADED A+ 100% GUARANTEED TO PASS CONCEPTS$17.99
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MHA 706 MIDTERM- LORD EXAM 2024/FINANCIAL MANAGEMENT MIDTERM/ LATEST 2024 WITH ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS/ALREADY GRADED A+ 100% GUARANTEED TO PASS CONCEPTS
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Course
MHA 706 LORD
Institution
MHA 706 LORD
MHA 706 MIDTERM- LORD EXAM 2024/FINANCIAL
MANAGEMENT MIDTERM/ LATEST 2024 WITH ACTUAL
QUESTIONS AND CORRECT VERIFIED ANSWERS/ALREADY
GRADED A+ 100% GUARANTEED TO PASS CONCEPTS
MHA 706 MIDTERM- LORD EXAM 2024/FINANCIAL
MANAGEMENT MIDTERM/ LATEST 2024 WITH ACTUAL
QUESTIONS AND CORRECT VERIFIED ANSWERS/ALREADY
GRADED A+ 100% GUARANTEED TO PASS CONCEPTS
Proprietorships & Partnerships: Pros & Cons - ✔✔ANSW✔✔..Pros: Ease of Information,
Subject to a few regulations, no corporation income taxes.
Cons: Limited life, difficult to transfer, unlimited life, difficult to raise capital.
Are accounting & financial mgmt independent? - ✔✔ANSW✔✔..No, both capture,
measure, & use data, but with different purpose
characteristics of business: - ✔✔ANSW✔✔..1) obtains financing from marketplace
2) uses funds to buy assets
3) operates the assets to provide goods or services
4) sells goods or services to create revenue
primary role of finance - ✔✔ANSW✔✔..to plan for, acquire, & utilize resources to
maximize the efficiency (& hence value) of the enterprise
finance activities - ✔✔ANSW✔✔..1) planning & budgeting
2) financial reporting
3) capital investment decisions
4) financing decisions
5) working capital management
6) contract management
7) financial risk management
Four C's (summarize finance activities) - ✔✔ANSW✔✔..1) Cost minimization
2) Cash sufficiency
3) Capital access
4) Control of financial resources
finance dept usually organized as follows: - ✔✔ANSW✔✔..CFO (VP-Finance)
Comptroller
Treasurer
__________________________ decreases possibility of stealing -
✔✔ANSW✔✔..segregation of duties
health service settings - ✔✔ANSW✔✔..hospital (inpatient)
ambulatory (outpatient)
long-term care
integrated delivery systems
Mgmt challenges - ACHE - ✔✔ANSW✔✔..financial concerns
medicaid
medicare
indigent care & bad debt losses
ACHE - ✔✔ANSW✔✔..American College of Healthcare Executives
HFMA - ✔✔ANSW✔✔..Healthcare Financial Management Association
Mgmt challenges - HFMA - ✔✔ANSW✔✔..balancing financial & quality issues
revenue cycle improvement
access to capital (financing)
hybrid forms of organization - ✔✔ANSW✔✔..Limited liability partnership (LLP)
Limited liability company (LLC)
Professional corporation (PC) or professional
association (PA)
Corporations: Pros & Cons - ✔✔ANSW✔✔..Pros: Unlimited life, easy transfer of
ownership, limited liability, ease of raising capital.
Cons: Cost of formation and reporting, double or triple taxes must be paid.
Non-profit Organization - ✔✔ANSW✔✔..Exempt from taxes. Goal is to improve
community.
For-profit Organizations - ✔✔ANSW✔✔..(Investor Owned) Goal is to maximize
shareholder return. Owe taxes.
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