Ache finance Study guides, Class notes & Summaries

ACHE FINANCE TEST QUESTIONS WITH REVISED AND UPDATED ANSWERS What is fund accounting - Answer-Fund accounting is a record-keeping method to manage categories of net assets to ensure compliance with the restrictions on those funds. Allows NFP/govt agencies have separate entities for specified activities such as operating/general/specific purpose/plant replacement/endowment. each fund self balances such that assets equal liability added to net fund balance Does operating revenue on a statemen...

ACHE FACHE BOG Finance Exam | Questions and Answers Graded A+ ACHE FACHE BOG Finance Exam | Questions and Answers Graded A+ ACHE FACHE BOG Finance Exam | Questions and Answers Graded A+

ACHE FACHE HC FINANCE (2023 – 2024) WITH LATEST COMPLETE SOLUTION Definition and Rule of Inurement - CORRECT ANSWER-- Diversion of funds to persons in governance or mgt as a result of their position of trust - Directors, officers, trustees are prohibited from engaging in business that allows them to derive financial advantage from their governing board role (conflict of interest) What is a best practice (as far as how soon in days) in receiving payments from date of invoice? - CORRECT...

ACHE FINANCE FROM IN-PERSON REVIEW COURSE TEST QUESTIONS WITH ALL CORRECT DETAILED ANSWERS GRADED A+ The accounting concept that relates to uncertainty dictating understating volumes and revenues and overstating expense is A). Conservatism B). Materiality C). Full disclosure D). Going concern - Answer-A). Conservatism An accounting method that recognizes revenue when they are earned and recognizes expenses when they are incurred is called A). Cash accounting B). Accrua...

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FACHE Finance Exam 2023 Controllership - ANS-Transaction Accounting Financial Accounting Managerial Accounting Goal Setting and Budgeting Financial Mangement - ANS-Financial Planning Pricing Clinical Services Financial Structures Securing and Managing Liquid Assets Managing Multi Corporate Accounting Auditing - ANS-Internal Audits Compliance Review External Audit Continuous Improvement of the Accounting & Finance Functions - ANS-Stakeholder Satisfaction Improve Performance Reporti...

Financial accounting correct answers identifies, measures, records, and communicates, in dollar terms, the economic events and status of an organization. Financial Statements correct answers summarize and communicate an organization's financial status to interested stakeholders, both outside and inside the organization Outside stakeholders correct answers include investors (both owners and creditors) Inside stakeholders correct answers include boards and managers External Audit corr...

ACHE WEEK 3 AND 4 FINANCE TEST QUESTIONS WITH CORRECT DETAILED ANSWERS Accounting methods - Answer-Cash accounting Accrual accounting Advantages of cash accounting - Answer-... Advantages of accrual accounting - Answer-... 4 financial statements - Answer-... Statements of operation - Answer-... What is the purpose of the statement of operation - Answer-Present the operating results over a period of time Diff between gross and net patient service revenue - Answer-... D...