Accounting and Medicine

homework_week3_accounting.docx

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HOMEWORK PART #1

Take a look at Example 8-2 and Figure 8-6 on page 139 in your text. Discuss your answers to the questions on page 140:

1. What is the purpose of the cash budget?

2. Read #2 on page 140 in your text(see picture below). How did you determine the minimum level of cash reserves needed to pay operating costs of the facility without borrowing?

3. Explain your understanding of the importance of knowing how to intelligently discuss these issues with the facility's accountant(s). For example, why is it important for healthcare managers to gain knowledge of financing and accounting?

HOMEWORK PART #2

Do some research and find an article that discusses the use of ratio analysis. Describe what you found useful in this article that will help you in your future career in health services management. Please make sure your sources are noted in proper APA format.