Week 1 Assignment for Study
Financial Concepts and Reports
Consult Ch. 1 & 2 and the glossary of Health Care Finance as well as other outside sources as necessary to complete the assignment form below.
Part 1: For each term in Column A, select the correct definition from Column B on the right. Write the corresponding letter of the definition next to the term.
Column B – Definitions
A. Inflow of money to the organization
B. Responsible for service delivery
C. Generated during reporting period of an organization
D. Costs that relate to earning revenue
E. A map outlining the elements of an organization
F. Steps that must be taken to accomplish the organization’s objectives
G. Illustrates all transactions for a reporting period
H. Comparing reports from earlier periods
I. Responsible for data accumulation
J. Exempt from paying income taxes
K. Provides immediate operating information
Column A
C
A
H
J
I
F
B
E
D
G
1. Quarterly reporting
2. Revenue
3. Clinical view
4. Nonprofit organization
5. Process view
6. Planning
7. Controlling
8. Chart of accounts
9. Expenses
10. General ledger
Column B – Real-World Examples
L. Rendering service to patients
M. Tenet health care system
N. Emergency department manager
O. Ascension health care system
P. Salary for labor performed
Q. Decision making process
R. Director of information systems operations
S. Medicare cost report
T. Ensuring organization is following the plans that have been established
U. Departmental budgeting
V. Verification of patient information
Part II: For each real-world example on the right, select the correct term from the list on the left. Write the corresponding letter of the real-world example next to the term.
Column A
L
O
R
U
P
Q
M
V
S
T
1. Revenue
2. Nonprofit organization
3. Comptroller
4. Managerial accounting
5. Expenses
6. Proprietary organization
7. Process view
8. Clinical view
9. Financial
Consult Ch. 1 & 2 and the glossary of Health Care Finance as well as other outside sources as necessary to complete the assignment form below.
Part 1: For each term in Column A, select the correct definition from Column B on the right. Write the corresponding letter of the definition next to the term.
Column B – Definitions
A. Inflow of money to the organization
B. Responsible for service delivery
C. Generated during reporting period of an organization
D. Costs that relate to earning revenue
E. A map outlining the elements of an organization
F. Steps that must be taken to accomplish the organization’s objectives
G. Illustrates all transactions for a reporting period
H. Comparing reports from earlier periods
I. Responsible for data accumulation
J. Exempt from paying income taxes
K. Provides immediate operating information
Column A
C
A
H
J
I
F
B
E
D
G
1. Quarterly reporting
2. Revenue
3. Clinical view
4. Nonprofit organization
5. Process view
6. Planning
7. Controlling
8. Chart of accounts
9. Expenses
10. General ledger
Column B – Real-World Examples
L. Rendering service to patients
M. Tenet health care system
N. Emergency department manager
O. Ascension health care system
P. Salary for labor performed
Q. Decision making process
R. Director of information systems operations
S. Medicare cost report
T. Ensuring organization is following the plans that have been established
U. Departmental budgeting
V. Verification of patient information
Part II: For each real-world example on the right, select the correct term from the list on the left. Write the corresponding letter of the real-world example next to the term.
Column A
L
O
R
U
P
Q
M
V
S
T
1. Revenue
2. Nonprofit organization
3. Comptroller
4. Managerial accounting
5. Expenses
6. Proprietary organization
7. Process view
8. Clinical view
9. Financial