MHA 706 Financial Management Midterm Questions and Correct Answers the Latest Update and Recommended Version
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Course
MHA
Institution
MHA
healthcare finance
→ the accounting and financial management principles and practices used within health
services organizations to ensure the financial well-being of the enterprise
healthcare sector
→ consists of a diverse collection of industries that involve the healthcare of the
popul...
MHA 706 Financial Management
Midterm Questions and Correct Answers
the Latest Update and Recommended
Version
healthcare finance
→ the accounting and financial management principles and practices used within health
services organizations to ensure the financial well-being of the enterprise
healthcare sector
→ consists of a diverse collection of industries that involve the healthcare of the
population
provider
→ an organization that provides healthcare services
business
→ maintains financial viability by selling goods or services
pure charity
→ relies solely on contributions
finance
→ consists of both accounting and financial management functions
→ a managerial accounting strategy focusing on maintaining efficient levels of both
components of working capital, current assets and current liabilities, in respect to each
other
contract management
→ the process of managing contract creation, execution and analysis to maximize
operational and financial performance at an organization, all while reducing financial
risk
financial risk management
→ the practice of economic value in a firm by using financial instruments to manage
exposure to risk, particularly credit risk and market risk
four C's
→ costs, cash, capital, and control
cost
→ a resource use associated with providing or supporting a specific service
chief financial officer
→ typically reports directly to the CEO
chief executive officer
→ responsible for all finance activities within the organization
comptroller
→ responsible for accounting and reporting activities
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