Exam (elaborations)
MHA 706 Financial Management Midterm Exam – Questions & Verified Answers
- Course
- Institution
MHA 706 Financial Management Midterm Exam – Questions & Verified Answers
[Show more]
Seller
Follow
LeCrae
Reviews received
Content preview
MHA 706 Financial Management Midterm – Questions& Verified Answers
Healthcare finance ✔️ans - the accounting and financial management
principles and practices used within health services organizations to ensure
the financial well-being of the enterprise
Healthcare sector ✔️ans - consists of a diverse collection of industries
that involve the healthcare of the population
Provider ✔️ans - an organization that provides healthcare services
Business ✔️ans - maintains financial viability by selling goods or services
Pure charity ✔️ans - relies solely on contributions
Finance ✔️ans - consists of both accounting and financial management
functions
Primary role of finance ✔️ans - to plan for, acquire, and use resources to
maximize the efficiency and value of the enterprise
Accounting ✔️ans - concerns the recording of economic events that
reflect the operations, resources, and financing of an organization
Financial management ✔️ans - provides the theory, concepts, and tools
necessary to help managers make better financial decisions
Planning and budgeting ✔️ans - involves evaluating the financial
effectiveness of current operations and planning for the future
Financial reporting ✔️ans - recording and reporting to outsiders the
results of operations and current financial status
Capital budgeting ✔️ans - the process of analyzing and choosing new
fixed assets
, Financing decisions ✔️ans - all organizations must raise capital to buy
the assets necessary to support operations
Working capital management ✔️ans - 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 ✔️ans - 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 ✔️ans - 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 ✔️ans - costs, cash, capital, and control
Cost ✔️ans - a resource use associated with providing or supporting a
specific service
Chief financial officer ✔️ans - typically reports directly to the ceo
Chief executive officer ✔️ans - responsible for all finance activities within
the organization
Comptroller ✔️ans - responsible for accounting and reporting activities
Treasurer ✔️ans - responsible for then acquisition and management of
capital
Patient accounts manager ✔️ans - reports to the comptroller
Cash manager ✔️ans - reports to treasurer
Business practice manager ✔️ans - in small health services organizations,
the finance responsibilities are combined and assigned to this person
Hospitals ✔️ans - provide diagnostic and therapeutic services to
individuals who require more that several hours of care
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LeCrae. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
64438 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now