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HCAD 760 MIDTERM EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS
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HCAD 760 MIDTERM EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS 1) policymaker or manager 2) type of healthcare organization definition of healthcare finance depends on the context of: health care finance the practice of finance, including both accounting & financial management, within h...

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  • November 12, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • hcad 760 midterm exam questions and answers with c

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  • HCAD 760
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HCAD 760 MIDTERM EXAM QUESTIONS AND ANSWERS WITH

COMPLETE SOLUTIONS


1) policymaker or manager

2) type of healthcare organization

definition of healthcare finance depends on the context of:

health care finance

the practice of finance, including both accounting & financial management, within health

services (provider) organizations

accounting

measurement, in financial (dollar) terms, of events that reflect the resources, operations,

& financing of an organization; external reports, taxes

financial management

theory, concepts, & tools necessary to help managers make better financial decisions;

internal, improves organization's opportunities & efficiency

No, both capture, measure, & use data, but with different purpose

accounting & financial mgmt independent?

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

characteristics of business:

, max shareholder return

goals of business (for profit)

max community or mission benefit

goals of pure charity

primary role of finance

to plan for, acquire, & utilize resources to maximize the efficiency (& hence value) of the

enterprise

1) planning & budgeting

2) financial reporting

3) capital investment decisions

4) financing decisions

5) working capital management

6) contract management

7) financial risk management

finance activities

Generally Accepted Accounting Principles

GAAP

1) Cost minimization

2) Cash sufficiency

3) Capital access

4) Control of financial resources

Four C's (summarize finance activities)

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