HPM 403 FINANCIAL ACCOUNTINGMIDTERM EXAM WITH QUESTIONS AND CORRECT ANSWERS|2024 Managerial Accounting - ANSWER-aims to provide financial information so managers can make decisions aligned with their business strategies. How finances are controlled intern

HPM 403 FINANCIAL ACCOUNTINGMIDTERM EXAM WITH QUESTIONS AND CORRECT ANSWERS|2024 Managerial Accounting - ANSWER-aims to provide financial information so managers can make decisions aligned with their business strategies. How finances are controlled internally - future perspective, provide insight on how to improve financial decisions for orgs future 2 | P a g e Financial Accounting - ANSWER-aims to provide financial statements and records, including measuring a company's performance to assess its financial health. - Historical perspective Why do hospitals need to generate profits? - ANSWER-- Better care for patients (increased resources, up to date technology, expansion of services, increased accessibility to care) - More financial resources to keep operating during emergency situations - Healthcare facilities can be updated/replaced Borrowing: not readily available, takes too long to access, interest accrual