The document provides guidance on writing an effective thesis statement, including that it should:
1) Be a complete sentence stating the main idea of the essay;
2) Express an opinion or attitude rather than just stating the topic;
3) Often include subtopics to signal how the essay will be organized;
4) Typically be located at the end of the introduction paragraph.
We're committed to providing 100% plagiarism free academic assignments i.e. Course work, Homework assignments, thesis, dissertations, Oxford Brookes (OBU) BSC Hons Applied Accounting ACCA Thesis (RAP, SLS, PPT), Essays and Term/Research papers etc. Pay in instalments and that too after you receive the first draft. Please visit and like our Facebook page www.facebook.com/assignmentwritingservices/ and website www.ghostwritingmania.com to avail our special discount packages. You can also add me on Skype ghostwritingmania or email me ghostwritingmania@yahoo.com for any further discussion...Looking forward to working together on long term.
This document is a dissertation report submitted by Ranjan Kumar to Acharya Institute of Management and Sciences in partial fulfillment of the requirements for a Master of Business Administration degree. The report studies customer satisfaction at Reliance Fresh retail outlets in Bangalore, India. It includes declarations by Ranjan Kumar and his advisor Prof. K. Ranganathan, as well as certificates of approval. Ranjan Kumar acknowledges and thanks those who supported the completion of his dissertation report.
This document contains a list of 133 potential MBA project topics. The topics cover a wide range of business subjects including marketing, finance, human resources, operations management, and more. Some of the topics listed include customer satisfaction studies, investment pattern analyses, brand analyses, capital structure analyses, and export/import procedures. The list provides students with many options for choosing an MBA project on an area of business that interests them.
View the presentations from Porter Keadle Moore's Alumni & Friends Tailgating Event. "What's New in the Accounting Playbook" presented by Arvil Stanford, PKM Audit Partner. "Avoiding the Blindside: Managing Cyber Threats in Today's Environment" presented by PKM's Terry Ammons, Systems Partner, and Tim Davis, Systems Senior. David Lee, UGA Vice President for Research, "University of Georgia Research: Why It Matters."
Make sure to join us next year!
This document provides an agenda and overview for a financial reporting and audit update presentation on April 2018. The presentation will cover new accounting standards for June 30, 2018 financial reports, reminders about new standards such as AASB 9, AASB 15, and AASB 16, and other topics such as the ACNC legislative review and standards issued but not yet effective. The presentation will be split into two parts, with the first part covering new standards and reminders, and the second part discussing additional topics such as crypto-currencies and new audit reports.
The document provides guidance on writing an effective thesis statement, including that it should:
1) Be a complete sentence stating the main idea of the essay;
2) Express an opinion or attitude rather than just stating the topic;
3) Often include subtopics to signal how the essay will be organized;
4) Typically be located at the end of the introduction paragraph.
We're committed to providing 100% plagiarism free academic assignments i.e. Course work, Homework assignments, thesis, dissertations, Oxford Brookes (OBU) BSC Hons Applied Accounting ACCA Thesis (RAP, SLS, PPT), Essays and Term/Research papers etc. Pay in instalments and that too after you receive the first draft. Please visit and like our Facebook page www.facebook.com/assignmentwritingservices/ and website www.ghostwritingmania.com to avail our special discount packages. You can also add me on Skype ghostwritingmania or email me ghostwritingmania@yahoo.com for any further discussion...Looking forward to working together on long term.
This document is a dissertation report submitted by Ranjan Kumar to Acharya Institute of Management and Sciences in partial fulfillment of the requirements for a Master of Business Administration degree. The report studies customer satisfaction at Reliance Fresh retail outlets in Bangalore, India. It includes declarations by Ranjan Kumar and his advisor Prof. K. Ranganathan, as well as certificates of approval. Ranjan Kumar acknowledges and thanks those who supported the completion of his dissertation report.
This document contains a list of 133 potential MBA project topics. The topics cover a wide range of business subjects including marketing, finance, human resources, operations management, and more. Some of the topics listed include customer satisfaction studies, investment pattern analyses, brand analyses, capital structure analyses, and export/import procedures. The list provides students with many options for choosing an MBA project on an area of business that interests them.
View the presentations from Porter Keadle Moore's Alumni & Friends Tailgating Event. "What's New in the Accounting Playbook" presented by Arvil Stanford, PKM Audit Partner. "Avoiding the Blindside: Managing Cyber Threats in Today's Environment" presented by PKM's Terry Ammons, Systems Partner, and Tim Davis, Systems Senior. David Lee, UGA Vice President for Research, "University of Georgia Research: Why It Matters."
Make sure to join us next year!
This document provides an agenda and overview for a financial reporting and audit update presentation on April 2018. The presentation will cover new accounting standards for June 30, 2018 financial reports, reminders about new standards such as AASB 9, AASB 15, and AASB 16, and other topics such as the ACNC legislative review and standards issued but not yet effective. The presentation will be split into two parts, with the first part covering new standards and reminders, and the second part discussing additional topics such as crypto-currencies and new audit reports.
Ppt on accounting standards prepared by Prof.Satish R.TajaneDr. Satish Tajane
The document provides an overview of accounting standards in India. It discusses the key bodies that regulate accounting standards and the process for developing and prescribing standards. It then lists and briefly describes 30 Indian Accounting Standards (AS), covering their objectives and key requirements. The standards relate to areas like disclosure of accounting policies, valuation of inventories, treatment of contingencies, revenue recognition, depreciation, foreign exchange rates, investments and more.
This document provides an overview and introduction to International Financial Reporting Standard 15 Revenue from Contracts with Customers (IFRS 15). IFRS 15 was issued jointly with the FASB's new revenue standard to improve and converge revenue recognition guidance between IFRS and US GAAP. The core principle of IFRS 15 is for an entity to recognize revenue in an amount that reflects the consideration expected in exchange for transferring goods or services to a customer. IFRS 15 provides a five-step model for revenue recognition and includes increased disclosure requirements.
FASB’s New Not-for-Profit Accounting StandardNet at Work
This webinar discusses the changes to financial reporting for not-for-profit entities under ASU 2016-14. Key changes include requiring a statement of cash flows, netting investment expenses against investment returns, consolidating net asset classes into two categories, requiring expense allocation by function and nature, and adding liquidity and availability disclosures. The webinar reviews each of these changes in detail and provides examples of revised financial statements and note disclosures to comply with the new standard.
2018 Community Health Center Accounting Standards UpdateJones & Roth
In this session, we will discuss several sweeping accounting standards updates that will specifically affect Community Health Centers. Specifically, there are three new upcoming standards updates that will require changes in financial reporting and presentation; recording of leases, revenue recognition from contracts, and changes in financial statement presentation for non-profit organizations.
PYA’s Angie Caldwell, a healthcare consulting and financial audit services principal, along with Emily Smithson, a tax services manager, discussed “Finance for the Non-Finance Manager.” Their presentation covered the basics of financial reporting and financial statements and budgeting.
Valuation of Physician Practices - David Cranford, Shannon FarrDecosimoCPAs
This document provides an overview of key concepts related to physician practice valuation, including:
- It discusses three common payment methods used by health plans to pay physicians: fee-for-service, discounted fee-for-service, and capitation.
- It outlines various payment adjustments health plans may make like withholds, utilization targets, and bonuses.
- It identifies important revenue and expense items to consider like CPT coding, non-physician staff costs, rent, insurance, and more.
- Key factors that can impact revenues are also outlined such as changes in payor methodologies, payment delays, high deductible plans, and credit balances.
The document provides valuation professionals with background information
The document provides an update on the HHS Provider Relief Fund, including important reporting deadlines, tracking and management considerations, audit considerations, and information on Phase 3 of the general distribution. Recipients who received over $10,000 total from the fund must report by February 15, 2021 on their use of the funds through December 31, 2020, including expenses and lost revenue attributable to COVID-19. The document recommends types of documentation recipients should maintain to substantiate their reporting.
Accounting Update Overview with a Healthcare SlantPYA, P.C.
PYA Principal and Director of Audit Services Doug Arnold presented during East Tennessee State University’s 38th Annual Accounting, Auditing, and Tax Updating CPE conference. His presentation covered many recent Accounting Standards Updates, but leaned toward their applications in healthcare.
The document discusses key concepts related to understanding financial statements for health information and informatics professionals. It defines the differences between financial and managerial accounting, as well as cash-based versus accrual-based accounting. The four main components of a financial statement are identified as the balance sheet, income statement, statement of cash flows, and statement of changes in net equity/equity statement. Each component is described in 1-3 sentences with high level information.
Framework for the preparation and presentation of financial statements icaiyuvraj singh
This document outlines the objectives and scope of the Framework for the Preparation and Presentation of Financial Statements. It discusses the purpose of financial statements in providing useful information to users for economic decision making. Specifically, it aims to provide information about an entity's financial position, performance, and cash flows. It also establishes concepts such as accrual accounting, going concern assumption, consistency, understandability, relevance, reliability, and comparability that underlie the preparation of high-quality financial statements.
Internal Service Funds (ISFs) provide centralized services on a cost-reimbursement basis to departments within a government. The goal is to break even rather than generate a profit. An example is a maintenance department providing equipment maintenance to other departments. Governments must review ISF rates charged and ensure costs are identified accurately. Enterprise Funds account for services provided to the public for a fee, using accrual accounting similar to businesses. Common examples include water, sewer, and electric utilities.
The document outlines the roles and responsibilities of hospital financial management, including preparing budgets and financial reports, maintaining accounting records, analyzing costs and revenues, and establishing financial controls. It also discusses financial planning, capital formation, rate setting approaches, and budget preparation and control in hospitals. The roles of the financial manager involve all aspects of accounting, budgeting, and financial analysis and reporting for the hospital.
Statistical Analysis:
FY 2013 FY 2014 FY 2015
FY 20016
Budget
STATISTICAL
SUMMARY LRMC CCH CCH CCH
Admissions 16,583 17,122 17,397 17,745
Adjusted Admissions 22,934 23,101 23,375 23,843
Patient Days 71,109 76,731 78,799 80,375
Adjusted Patient Days 98,330 103,487 105,871 107,988
Average Daily Census 195 210 216 220
Percentage of
Occupancy 63% 68% 70% 71%
Average Length of
Stay 4.3 4.5 4.5 4.5
Emergency Visits 33,586 33,095 36,266 37,354
Urgent Care Visits 11,717 15,734 16,202 16,688
Observation Cases 4,380 5,216 5,496 5,661
Outpatient
Registrations 30,819 30,063 32,313 33,928
Home Health Visits 51,736 43,496 38,532 38,532
Births 1,297 1,328 1,265 1,265
Other Statistics
Employees 2,112 2,350 2,400
Full Time Equivalent Employees 1,690 1,880 1,920
Financial Data:
Balance Sheet
FY 2014 and 2015
Assets 2015 2014
Current assets:
Cash and cash equivalents
Cash and investments held by bond trustee –
required for current liabilities
Accounts receivable, less allowances for
uncollectible
$
53,635,94
4
11,552,85
9
34,328,81
4
12,479,98
5 patient accounts of approximately $40,466,000 and
$38,196,000 in 2010 and 2009, respectively 44,068,697 38,838,787
Estimated third-party settlements, net 1,295,000 1,758,080
Supplies 9,899,409 8,860,081
Prepaid expenses and other current assets 9,066,378 11,867,585
Total current assets 129,518,287 108,133,332
Assets limited as to use:
Current liabilities:
Accounts payable $ 19,860,709 15,744,839
Accrued expenses:
Employee compensation and
benefits
20,467,163 14,712,215
Interest 2,186,356 2,069,202
Other 11,501,375 12,929,155
Current portion of long-term debt 5,000,000 4,715,000
Total current liabilities 59,015,603 50,170,411
Interest rate swaps 7,663,158 5,121,610
Other 12,907,742 8,342,913
Long-term debt, less current portion 154,594,700 162,282,08
4
Total liabilities 234,181,203 225,917,01
8 Net assets:
Unrestricted 181,147,094 175,919,30
4 Temporarily restricted — 129,367
Permanently restricted — 1,101,862
Cash and investments held by bond trustee, less current portion 6,577,710 5,986,813
Other 4,575,567 2,660,774
Total assets limited as to use 11,153,277 8,647,587
Property and equipment, net 176,575,169 184,822,376
Other assets:
Investments
88,036,572
96,245,865
Deferred loan costs, net
1,762,631
—
2,414,097
1,524,290
Due from affiliates 7,388,113 1,280,004
Other assets 894,248 —
Total other assets 98,081,564 101,464,256
Total assets $ 415,328,297 403,067,551
Total net assets 181,147,094 17.
Financial Analysis Using the financial statements from the Maj.docxvoversbyobersby
Financial Analysis
Using the financial statements from the Major Medical Center Case Study below, analyze the following:
x Review the auditor’s opinion letter and analyze any concerns.
x Review the financial statements. Analyze any unusual items and examine the balance sheet,
operating statement, and cash flow statement.
x Review the notes and analyze any causes for concern.
x Calculate the following ratios using Excel: common size, current, quick, days of cash on hand, receivables turnover, average collection period, fixed asset turnover, total asset turnover, debt, debt to equity, timesͲinterestͲearned, operating margin, total margin, Return On Assets (ROA), and Return On Net Assets (RONA).
x Evaluate Major Medical Center’s financial status.
Submit fourͲpage Word document (not including the title and reference pages) and an Excel worksheet.
Paper need to be formatted to APA style, and must cite at least four scholarly sources.
552 Part VI • Financial Analysis
Case Study Problem
15-12. For the Major Medical Center financial statements on the following pages, complete the following:
a. Read the auditor's opinion letter. Are any flags
raised?
b. Review the financial statements. Search for un
usual items. What things catch your eye on the balance sheet, operating statement, and cash flow statement?
c. Review the notes. Do any of them raise cause for
concern?
d. Calculate the following ratios: common size, cur rent, quick, days of cash on hand, receivables turnover, average collection period, fixed asset turnover, total asset turnover. debt, debt to equity. times-interest-earned, operating ma rgin, total mar gin, ROA, and RONA.
e. What do you think of Major Medical Center's
financial sta t us?
CASE STUDY
Major Medical Center8
I.N. SINGER AND OW, GPAs
2650 East 38th Street
New York, New York 10089
Report of Independent Auditors
Board of Trustees
Major Medical Center
We have audited the accompanying statements of financial position of Major Medical Center (the "Medical Center") as of December 31, 2014 and 2013, and the related statements of operations, changes in net assets, and cash flows for the years then ended. These financial statements are the responsibility of the Medical Center's management. Our responsi bility is to express an opinion on tl1ese financial state ments based on our audits.
We conducted our a udits in accordance with generally accepted aud iting stan
dards. Those standards require that we plan and perform the audit to obtain rea sonable assurance about whether t11e financial statements are f ree of material mis statement. An audit includes examining, on a test basis, evidence suppotting the amounts and disclosures i n the financial statements. An audit also includes assess ing the accounting principles used and significant estimates made by management, as well as evaluating the overall fina ncial statement ...
Bentleys is proud to offer you the slides from our Financial Reporting Bootcamp 2015, for all financial statement preparers, designed specifically to address the current hot issues & new developments facing our profession.
The Bootcamp will provide you with practical solutions, tools and skills that will make the preparation of your financial statements easier.
If you are a Finance Director, Chief Financial Officer or a Financial Controller then this slide page will be for you.
What You will Learn
Insight into the changes in financial reporting requirements
Highlighting current hot topics
Providing you with practical application of these changes
Showing you how to address these issues holistically in the “real-world” context
Learn through practical workshop sessions
Discuss the issues in the context of relevant case studies
Keep up to date & improve your reporting skills
Google 2016 annual report-target corporate to get all the necessary .pdfRITU1ARORA
Google 2016 annual report-target corporate to get all the necessary information
Analysis fo year 2017
Balance Sheet (values in 000\'s)
period ending
1/28/2017
current assets
cash and cash equivalents
2,512,000
short-term investments
0
net receivables
0
inventory
8,039,000
Other Current Assets
1,169,000
Total Current Assets
11,990,000
Long-Term Assets
Long-Term Investments
0
Fixed Assets
24,658,000
Goodwill
0
Intangible Assets
0
Other Assets
783,000
Deferred Asset Charges
0
Total Assets
37,431,000
Current Liabilities
Accounts Payable
10,989,000
Short-Term Debt / Current Portion of Long-Term Debt
1,718,000
Other Current Liabilities
1,000
Total Current Liabilities
12,708,000
Long-Term Debt
11,031,000
11,945,000
Other Liabilities
1,878,000
Deferred Liability Charges
861,000
Misc. Stocks
0
Minority Interest
0
Total Liabilities
26,478,000
Stock Holders Equity
Common Stocks
46,000
Capital Surplus
5,661,000
Retained Earnings
5,884,000
Treasury Stock
0
Other Equity
($638,000)
Total Equity
10,953,000
Total Liabilities & Equity
37,431,000
Cash flow (values in000\'s)
period ending
1/28/2017
Net Income
2,737,000
Cash Flows-Operating Activities
Depreciation
2,298,000
Net Income Adjustments
508,000
Changes in Operating Activities
Accounts Receivable
0
Changes in Inventories
293,000
Other Operating Activities
36,000
Liabilities
($543,000)
Net Cash Flow-Operating
5,436,000
Cash Flows-Investing Activities
Capital Expenditures
($1,547,000)
Investments
28,000
Other Investing Activities
46,000
Net Cash Flows-Investing
$1,473,000)
Cash Flows-Financing Activities
Sale and Purchase of Stock
($3,485,000)
Net Borrowings
($664,000)
Other Financing Activities
0
Net Cash Flows-Financing
($5,497,000)
Effect of Exchange Rate
0
Net Cash Flow
($1,534,000)
IV. Adjusting Entries:
A. Explain the type of depreciation method Target Corporation uses and why they use this
method.
B. Identify an example of an adjusting entry (other than depreciation), such as prepaid expenses,
supplies, or unearned revenue, and whether or not Target Corporation has this account listed on
the balance sheet. You could consider why this might not be listed.
VI. Communication: For this part of the assessment, you will prepare memorandums to upper
management addressing certain scenarios or situations.
A. As the controller of Target Corporation, compose a memo to the CEO addressing the
advantages and disadvantages of transitioning from GAAP to IFRS.
B. As the controller of Target Corporation, compose a memo to the CEO addressing the
following scenario: Your biggest customer has just gone bankrupt, and you must inform the CEO
how this will affect your accounts receivable. Assume that the accounts receivable balance is at
least $100,000.
When writing your paper considers the following:
A company may use several different depreciation methods or just one. This information will be
disclosed in the notes. If the company has not explained why they use the method, you will want
to consider the pros and cons of t.
Details and Dollars: Using Data and Analytics to Optimize Revenue Cycle Perfo...Health Catalyst
Most hospitals and healthcare systems leave millions of dollars on the table every year because they lack the knowledge, experience, and discipline necessary to register, bill, and collect correctly. These unclaimed earnings have become more critical in the face of COVID-19 as healthcare organizations face unprecedented negative financial impacts and recognize the need to optimize existing revenue streams most efficiently.
Furthermore, the continuously rising cost and demand for healthcare places more pressure on enhancing revenue as a solution to improving financial performance. Financial managers and administrators must rapidly identify opportunities that increase revenue, maximize reimbursement, and decrease write-offs to ensure long-term profitability and improved results.
Marlowe Dazley, Senior Vice President and Managing Director of Financial Advisory Services at Health Catalyst, and Todd Halpin, Senior Vice President of Financial Advisory Services at Health Catalyst, will share the fundamentals of revenue cycle management and how to conduct a data-driven revenue cycle assessment.
During this webinar, attendees learn the following:
- How to conduct a comprehensive, data-driven revenue cycle assessment to rapidly determine the root cause of lost revenue and the erosion of cash collections.
- How to use data and best practices to challenge current processes and effect change.
- How to determine if accounts receivable reserve formulas acknowledge historical managed care discounts, increases in uncompensated care funding, and deterioration of revenue cycle processes.
- How to leverage appropriate staffing models and productivity tools to maximize efficiency.
Marlowe Dazley, Senior Vice President and Managing Director of Financial Advisory Services at Health Catalyst, and Todd Halpin, Senior Vice President of Financial Advisory Services at Health Catalyst, will share the fundamentals of revenue cycle management and how to conduct a data-driven revenue cycle assessment.
During this webinar, attendees will learn the following:
How to conduct a comprehensive, data-driven revenue cycle assessment to rapidly determine the root cause of lost revenue and the erosion of cash collections.
How to use data and best practices to challenge current processes and effect change.
How to determine if accounts receivable reserve formulas acknowledge historical managed care discounts, increases in uncompensated care funding, and deterioration of revenue cycle processes.
How to leverage appropriate staffing models and productivity tools to maximize efficiency.
The document provides an overview of financial statements and accounting. It discusses the key players in a business, the accounting system and financial statements. The four basic financial statements are the balance sheet, income statement, statement of retained earnings, and statement of cash flows. It also discusses accounting principles, auditing, business entities, careers in accounting and related topics.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
Ppt on accounting standards prepared by Prof.Satish R.TajaneDr. Satish Tajane
The document provides an overview of accounting standards in India. It discusses the key bodies that regulate accounting standards and the process for developing and prescribing standards. It then lists and briefly describes 30 Indian Accounting Standards (AS), covering their objectives and key requirements. The standards relate to areas like disclosure of accounting policies, valuation of inventories, treatment of contingencies, revenue recognition, depreciation, foreign exchange rates, investments and more.
This document provides an overview and introduction to International Financial Reporting Standard 15 Revenue from Contracts with Customers (IFRS 15). IFRS 15 was issued jointly with the FASB's new revenue standard to improve and converge revenue recognition guidance between IFRS and US GAAP. The core principle of IFRS 15 is for an entity to recognize revenue in an amount that reflects the consideration expected in exchange for transferring goods or services to a customer. IFRS 15 provides a five-step model for revenue recognition and includes increased disclosure requirements.
FASB’s New Not-for-Profit Accounting StandardNet at Work
This webinar discusses the changes to financial reporting for not-for-profit entities under ASU 2016-14. Key changes include requiring a statement of cash flows, netting investment expenses against investment returns, consolidating net asset classes into two categories, requiring expense allocation by function and nature, and adding liquidity and availability disclosures. The webinar reviews each of these changes in detail and provides examples of revised financial statements and note disclosures to comply with the new standard.
2018 Community Health Center Accounting Standards UpdateJones & Roth
In this session, we will discuss several sweeping accounting standards updates that will specifically affect Community Health Centers. Specifically, there are three new upcoming standards updates that will require changes in financial reporting and presentation; recording of leases, revenue recognition from contracts, and changes in financial statement presentation for non-profit organizations.
PYA’s Angie Caldwell, a healthcare consulting and financial audit services principal, along with Emily Smithson, a tax services manager, discussed “Finance for the Non-Finance Manager.” Their presentation covered the basics of financial reporting and financial statements and budgeting.
Valuation of Physician Practices - David Cranford, Shannon FarrDecosimoCPAs
This document provides an overview of key concepts related to physician practice valuation, including:
- It discusses three common payment methods used by health plans to pay physicians: fee-for-service, discounted fee-for-service, and capitation.
- It outlines various payment adjustments health plans may make like withholds, utilization targets, and bonuses.
- It identifies important revenue and expense items to consider like CPT coding, non-physician staff costs, rent, insurance, and more.
- Key factors that can impact revenues are also outlined such as changes in payor methodologies, payment delays, high deductible plans, and credit balances.
The document provides valuation professionals with background information
The document provides an update on the HHS Provider Relief Fund, including important reporting deadlines, tracking and management considerations, audit considerations, and information on Phase 3 of the general distribution. Recipients who received over $10,000 total from the fund must report by February 15, 2021 on their use of the funds through December 31, 2020, including expenses and lost revenue attributable to COVID-19. The document recommends types of documentation recipients should maintain to substantiate their reporting.
Accounting Update Overview with a Healthcare SlantPYA, P.C.
PYA Principal and Director of Audit Services Doug Arnold presented during East Tennessee State University’s 38th Annual Accounting, Auditing, and Tax Updating CPE conference. His presentation covered many recent Accounting Standards Updates, but leaned toward their applications in healthcare.
The document discusses key concepts related to understanding financial statements for health information and informatics professionals. It defines the differences between financial and managerial accounting, as well as cash-based versus accrual-based accounting. The four main components of a financial statement are identified as the balance sheet, income statement, statement of cash flows, and statement of changes in net equity/equity statement. Each component is described in 1-3 sentences with high level information.
Framework for the preparation and presentation of financial statements icaiyuvraj singh
This document outlines the objectives and scope of the Framework for the Preparation and Presentation of Financial Statements. It discusses the purpose of financial statements in providing useful information to users for economic decision making. Specifically, it aims to provide information about an entity's financial position, performance, and cash flows. It also establishes concepts such as accrual accounting, going concern assumption, consistency, understandability, relevance, reliability, and comparability that underlie the preparation of high-quality financial statements.
Internal Service Funds (ISFs) provide centralized services on a cost-reimbursement basis to departments within a government. The goal is to break even rather than generate a profit. An example is a maintenance department providing equipment maintenance to other departments. Governments must review ISF rates charged and ensure costs are identified accurately. Enterprise Funds account for services provided to the public for a fee, using accrual accounting similar to businesses. Common examples include water, sewer, and electric utilities.
The document outlines the roles and responsibilities of hospital financial management, including preparing budgets and financial reports, maintaining accounting records, analyzing costs and revenues, and establishing financial controls. It also discusses financial planning, capital formation, rate setting approaches, and budget preparation and control in hospitals. The roles of the financial manager involve all aspects of accounting, budgeting, and financial analysis and reporting for the hospital.
Statistical Analysis:
FY 2013 FY 2014 FY 2015
FY 20016
Budget
STATISTICAL
SUMMARY LRMC CCH CCH CCH
Admissions 16,583 17,122 17,397 17,745
Adjusted Admissions 22,934 23,101 23,375 23,843
Patient Days 71,109 76,731 78,799 80,375
Adjusted Patient Days 98,330 103,487 105,871 107,988
Average Daily Census 195 210 216 220
Percentage of
Occupancy 63% 68% 70% 71%
Average Length of
Stay 4.3 4.5 4.5 4.5
Emergency Visits 33,586 33,095 36,266 37,354
Urgent Care Visits 11,717 15,734 16,202 16,688
Observation Cases 4,380 5,216 5,496 5,661
Outpatient
Registrations 30,819 30,063 32,313 33,928
Home Health Visits 51,736 43,496 38,532 38,532
Births 1,297 1,328 1,265 1,265
Other Statistics
Employees 2,112 2,350 2,400
Full Time Equivalent Employees 1,690 1,880 1,920
Financial Data:
Balance Sheet
FY 2014 and 2015
Assets 2015 2014
Current assets:
Cash and cash equivalents
Cash and investments held by bond trustee –
required for current liabilities
Accounts receivable, less allowances for
uncollectible
$
53,635,94
4
11,552,85
9
34,328,81
4
12,479,98
5 patient accounts of approximately $40,466,000 and
$38,196,000 in 2010 and 2009, respectively 44,068,697 38,838,787
Estimated third-party settlements, net 1,295,000 1,758,080
Supplies 9,899,409 8,860,081
Prepaid expenses and other current assets 9,066,378 11,867,585
Total current assets 129,518,287 108,133,332
Assets limited as to use:
Current liabilities:
Accounts payable $ 19,860,709 15,744,839
Accrued expenses:
Employee compensation and
benefits
20,467,163 14,712,215
Interest 2,186,356 2,069,202
Other 11,501,375 12,929,155
Current portion of long-term debt 5,000,000 4,715,000
Total current liabilities 59,015,603 50,170,411
Interest rate swaps 7,663,158 5,121,610
Other 12,907,742 8,342,913
Long-term debt, less current portion 154,594,700 162,282,08
4
Total liabilities 234,181,203 225,917,01
8 Net assets:
Unrestricted 181,147,094 175,919,30
4 Temporarily restricted — 129,367
Permanently restricted — 1,101,862
Cash and investments held by bond trustee, less current portion 6,577,710 5,986,813
Other 4,575,567 2,660,774
Total assets limited as to use 11,153,277 8,647,587
Property and equipment, net 176,575,169 184,822,376
Other assets:
Investments
88,036,572
96,245,865
Deferred loan costs, net
1,762,631
—
2,414,097
1,524,290
Due from affiliates 7,388,113 1,280,004
Other assets 894,248 —
Total other assets 98,081,564 101,464,256
Total assets $ 415,328,297 403,067,551
Total net assets 181,147,094 17.
Financial Analysis Using the financial statements from the Maj.docxvoversbyobersby
Financial Analysis
Using the financial statements from the Major Medical Center Case Study below, analyze the following:
x Review the auditor’s opinion letter and analyze any concerns.
x Review the financial statements. Analyze any unusual items and examine the balance sheet,
operating statement, and cash flow statement.
x Review the notes and analyze any causes for concern.
x Calculate the following ratios using Excel: common size, current, quick, days of cash on hand, receivables turnover, average collection period, fixed asset turnover, total asset turnover, debt, debt to equity, timesͲinterestͲearned, operating margin, total margin, Return On Assets (ROA), and Return On Net Assets (RONA).
x Evaluate Major Medical Center’s financial status.
Submit fourͲpage Word document (not including the title and reference pages) and an Excel worksheet.
Paper need to be formatted to APA style, and must cite at least four scholarly sources.
552 Part VI • Financial Analysis
Case Study Problem
15-12. For the Major Medical Center financial statements on the following pages, complete the following:
a. Read the auditor's opinion letter. Are any flags
raised?
b. Review the financial statements. Search for un
usual items. What things catch your eye on the balance sheet, operating statement, and cash flow statement?
c. Review the notes. Do any of them raise cause for
concern?
d. Calculate the following ratios: common size, cur rent, quick, days of cash on hand, receivables turnover, average collection period, fixed asset turnover, total asset turnover. debt, debt to equity. times-interest-earned, operating ma rgin, total mar gin, ROA, and RONA.
e. What do you think of Major Medical Center's
financial sta t us?
CASE STUDY
Major Medical Center8
I.N. SINGER AND OW, GPAs
2650 East 38th Street
New York, New York 10089
Report of Independent Auditors
Board of Trustees
Major Medical Center
We have audited the accompanying statements of financial position of Major Medical Center (the "Medical Center") as of December 31, 2014 and 2013, and the related statements of operations, changes in net assets, and cash flows for the years then ended. These financial statements are the responsibility of the Medical Center's management. Our responsi bility is to express an opinion on tl1ese financial state ments based on our audits.
We conducted our a udits in accordance with generally accepted aud iting stan
dards. Those standards require that we plan and perform the audit to obtain rea sonable assurance about whether t11e financial statements are f ree of material mis statement. An audit includes examining, on a test basis, evidence suppotting the amounts and disclosures i n the financial statements. An audit also includes assess ing the accounting principles used and significant estimates made by management, as well as evaluating the overall fina ncial statement ...
Bentleys is proud to offer you the slides from our Financial Reporting Bootcamp 2015, for all financial statement preparers, designed specifically to address the current hot issues & new developments facing our profession.
The Bootcamp will provide you with practical solutions, tools and skills that will make the preparation of your financial statements easier.
If you are a Finance Director, Chief Financial Officer or a Financial Controller then this slide page will be for you.
What You will Learn
Insight into the changes in financial reporting requirements
Highlighting current hot topics
Providing you with practical application of these changes
Showing you how to address these issues holistically in the “real-world” context
Learn through practical workshop sessions
Discuss the issues in the context of relevant case studies
Keep up to date & improve your reporting skills
Google 2016 annual report-target corporate to get all the necessary .pdfRITU1ARORA
Google 2016 annual report-target corporate to get all the necessary information
Analysis fo year 2017
Balance Sheet (values in 000\'s)
period ending
1/28/2017
current assets
cash and cash equivalents
2,512,000
short-term investments
0
net receivables
0
inventory
8,039,000
Other Current Assets
1,169,000
Total Current Assets
11,990,000
Long-Term Assets
Long-Term Investments
0
Fixed Assets
24,658,000
Goodwill
0
Intangible Assets
0
Other Assets
783,000
Deferred Asset Charges
0
Total Assets
37,431,000
Current Liabilities
Accounts Payable
10,989,000
Short-Term Debt / Current Portion of Long-Term Debt
1,718,000
Other Current Liabilities
1,000
Total Current Liabilities
12,708,000
Long-Term Debt
11,031,000
11,945,000
Other Liabilities
1,878,000
Deferred Liability Charges
861,000
Misc. Stocks
0
Minority Interest
0
Total Liabilities
26,478,000
Stock Holders Equity
Common Stocks
46,000
Capital Surplus
5,661,000
Retained Earnings
5,884,000
Treasury Stock
0
Other Equity
($638,000)
Total Equity
10,953,000
Total Liabilities & Equity
37,431,000
Cash flow (values in000\'s)
period ending
1/28/2017
Net Income
2,737,000
Cash Flows-Operating Activities
Depreciation
2,298,000
Net Income Adjustments
508,000
Changes in Operating Activities
Accounts Receivable
0
Changes in Inventories
293,000
Other Operating Activities
36,000
Liabilities
($543,000)
Net Cash Flow-Operating
5,436,000
Cash Flows-Investing Activities
Capital Expenditures
($1,547,000)
Investments
28,000
Other Investing Activities
46,000
Net Cash Flows-Investing
$1,473,000)
Cash Flows-Financing Activities
Sale and Purchase of Stock
($3,485,000)
Net Borrowings
($664,000)
Other Financing Activities
0
Net Cash Flows-Financing
($5,497,000)
Effect of Exchange Rate
0
Net Cash Flow
($1,534,000)
IV. Adjusting Entries:
A. Explain the type of depreciation method Target Corporation uses and why they use this
method.
B. Identify an example of an adjusting entry (other than depreciation), such as prepaid expenses,
supplies, or unearned revenue, and whether or not Target Corporation has this account listed on
the balance sheet. You could consider why this might not be listed.
VI. Communication: For this part of the assessment, you will prepare memorandums to upper
management addressing certain scenarios or situations.
A. As the controller of Target Corporation, compose a memo to the CEO addressing the
advantages and disadvantages of transitioning from GAAP to IFRS.
B. As the controller of Target Corporation, compose a memo to the CEO addressing the
following scenario: Your biggest customer has just gone bankrupt, and you must inform the CEO
how this will affect your accounts receivable. Assume that the accounts receivable balance is at
least $100,000.
When writing your paper considers the following:
A company may use several different depreciation methods or just one. This information will be
disclosed in the notes. If the company has not explained why they use the method, you will want
to consider the pros and cons of t.
Details and Dollars: Using Data and Analytics to Optimize Revenue Cycle Perfo...Health Catalyst
Most hospitals and healthcare systems leave millions of dollars on the table every year because they lack the knowledge, experience, and discipline necessary to register, bill, and collect correctly. These unclaimed earnings have become more critical in the face of COVID-19 as healthcare organizations face unprecedented negative financial impacts and recognize the need to optimize existing revenue streams most efficiently.
Furthermore, the continuously rising cost and demand for healthcare places more pressure on enhancing revenue as a solution to improving financial performance. Financial managers and administrators must rapidly identify opportunities that increase revenue, maximize reimbursement, and decrease write-offs to ensure long-term profitability and improved results.
Marlowe Dazley, Senior Vice President and Managing Director of Financial Advisory Services at Health Catalyst, and Todd Halpin, Senior Vice President of Financial Advisory Services at Health Catalyst, will share the fundamentals of revenue cycle management and how to conduct a data-driven revenue cycle assessment.
During this webinar, attendees learn the following:
- How to conduct a comprehensive, data-driven revenue cycle assessment to rapidly determine the root cause of lost revenue and the erosion of cash collections.
- How to use data and best practices to challenge current processes and effect change.
- How to determine if accounts receivable reserve formulas acknowledge historical managed care discounts, increases in uncompensated care funding, and deterioration of revenue cycle processes.
- How to leverage appropriate staffing models and productivity tools to maximize efficiency.
Marlowe Dazley, Senior Vice President and Managing Director of Financial Advisory Services at Health Catalyst, and Todd Halpin, Senior Vice President of Financial Advisory Services at Health Catalyst, will share the fundamentals of revenue cycle management and how to conduct a data-driven revenue cycle assessment.
During this webinar, attendees will learn the following:
How to conduct a comprehensive, data-driven revenue cycle assessment to rapidly determine the root cause of lost revenue and the erosion of cash collections.
How to use data and best practices to challenge current processes and effect change.
How to determine if accounts receivable reserve formulas acknowledge historical managed care discounts, increases in uncompensated care funding, and deterioration of revenue cycle processes.
How to leverage appropriate staffing models and productivity tools to maximize efficiency.
The document provides an overview of financial statements and accounting. It discusses the key players in a business, the accounting system and financial statements. The four basic financial statements are the balance sheet, income statement, statement of retained earnings, and statement of cash flows. It also discusses accounting principles, auditing, business entities, careers in accounting and related topics.
Similar to Financial Reporting Accounting Dissertation Projects (20)
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic DataChampak Jhagmag
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
2. Learning Objectives
Account for unique hospital revenue
sources
Prepare journal entries for hospital
transactions
Prepare government hospital financial
statements
Understand key differences between
accounting & reporting for government and
nongovernment not-for-profit hospitals
Prepare nongovernment not-for-profit
hospital financial statements
www.study-aids.co.uk (c) 2014
3. Development of GAAP
Industry associations – assist in
development of GAAP
American
Hospital Association
Healthcare Financial Management
Association
AIPCA Health Care Organizations
audit guide, together with GASB &
FASB standards, constitute GAAP
www.study-aids.co.uk (c) 2014
4. Governmental Hospitals
Report as enterprise activities
If functioning as separate legal entity,
hospital will be a special purpose
government engaged in business-type
activities
Primary difference from other BTAs
will be certain revenue recognition
practices
www.study-aids.co.uk (c) 2014
5. Governmental Hospital
Restricted Funds
Specific Purpose Funds – used to account
for assets restricted by donors and grantors
Plant Replacement & Expansion Funds –
used to account for financial resources
restricted by donors or grantors for capital
asset purposes
Endowment Funds – used to account for
principal of permanent endowments, term
endowments, and similar gifts
www.study-aids.co.uk (c) 2014
7. Distinguishing Primary Activities
Health Care Audit Guide applies
FASB Concept #6
Revenues
and expenses come from
ongoing major or central operations
Gains and loses are incidental items
GASB #34 adopts these same ideas
and adds expectation of consistency
with operating cash flows
www.study-aids.co.uk (c) 2014
8. Reporting issue
Revenue for one hospital may be gain
for another
Contribution
Could
be revenue if hospital has
major, ongoing fund-raising activity
Will still be nonoperating revenue in
governmental hospital
For hospitals without ongoing fundraising activity, contributions are gains
www.study-aids.co.uk (c) 2014
9. Classes of Revenues
Patient service revenues
Daily
patient services
Other nursing services
Other professional services
Premium fees – revenues from other
organizations based on agreement to
provide services for specific fee
Other revenues – derived from ongoing
activity other than patient services
www.study-aids.co.uk (c) 2014
10. Deductions from patient
service revenues
Charity services – indigent patients
Policy discounts – members of groups
that receive discounts as a result of
hospital policy
Contractual adjustments – third-party
payments that are lower than
standard rates by contract
Uncollectible accounts
www.study-aids.co.uk (c) 2014
11. Contractual Adjustments
Reimbursement rates based on
national or regional averages
Standard hospital rates not based on
cost
Difference needs to be adjusted at
time service is provided so that
receivables will reflect amount
expected to be collected
www.study-aids.co.uk (c) 2014
12. Sample patient service
entries (720 – amounts in thousands)
Accounts & Notes Receivable
Revenues – Patient Service
Charges
Gross billings for services at established rates.
www.study-aids.co.uk (c) 2014
1,000
1,000
14. Financial Reporting
Statement of Net Assets
Accounts & Notes Receivable
Less: Allowance for uncollectible
Receivables and Third-Party
Contractuals
Operating Statement
Net Patient Service Revenues
(1,000 – 40 – 60 – 50)
www.study-aids.co.uk (c) 2014
$960
110
$850
$850
15. Typical Gains
Sales of investments in securities
Sales of capital assets
Gifts or donations (may be revenues
in some hospitals)
Investment income (may be revenues
in some hospitals)
www.study-aids.co.uk (c) 2014
16. Unrestricted & Restricted
Gifts and Grants
Unrestricted gifts, grants, & bequests
are typically reported as gains
Restricted grant rules are the same as
for C&Us
www.study-aids.co.uk (c) 2014
17. Gifts of Professional
Services and Other Items
Professional services common
donation for hospitals
Reporting
is optional
If reported, show as nonoperating
revenues
Gifts of supplies and commodities
reported as other revenues or gains
www.study-aids.co.uk (c) 2014
18. Expense Classification
Measurement & recognition criteria
same as business entities
Exceptions for
Pensions
– follow rules in GASB #27
OPEB – follow rules in GASB #45
www.study-aids.co.uk (c) 2014
19. Typical Expense Functions
Nursing services
Other professional services
General services
Fiscal services
Administrative services
Other services
May use either natural or functional
classifications in operating statement
www.study-aids.co.uk (c) 2014
20. Common Examples of
Restricted Assets
Contracts such as bond indentures
Restrictions by third-party agreements
Restrictions by donors or grantors
All these are legal restrictions
www.study-aids.co.uk (c) 2014
21. Restricted Assets
Cash and investments designated or
restricted for long-term purposes are
reported as noncurrent assets
Separate classifications used for
Internally
designated assets
Assets restricted by other than donor
or grantor requirements
Donor or grantor restrictions
Principal of permanent endowments
www.study-aids.co.uk (c) 2014
22. Board Designations
Created at Board’s discretion
Unrestricted resources to be used for
specific noncurrent or nonoperating
purpose
www.study-aids.co.uk (c) 2014
23. Nongovernment NFP Hospitals
Use of the term “restricted” reserved
for resources limited by donors or
grantors
Examples of purposes for restrictions
Specific
operating purposes
Additions to capital assets
Endowment
www.study-aids.co.uk (c) 2014
24. Restrictions lifted by
Meeting a specific condition –
complying with restrictions by
spending for specific purposes
Passage of time – term endowments
www.study-aids.co.uk (c) 2014
25. Property, Plant, & Equipment
Assets recorded at historical cost or
fair value for donations
Depreciation recorded on all assets
Capitalization policy, method of
valuing assets, and depreciation
method must be disclosed in notes to
financial statements
www.study-aids.co.uk (c) 2014
26. Alzona Hospital Example
Example limited to general ledger
accounts
Characteristics
Medium
size hospital
General short-term health care facility
Financing from patient services, fees,
donations, and investment earnings
www.study-aids.co.uk (c) 2014
30. Indigent patients (724)
Revenue Deductions –
Charity Services
Accounts & Notes
Receivable
125,000
125,000
Charity services do not result in patient service revenues since
there is no expectation of payment. Level of charity services must
be disclosed in the notes; this entry is a good way to capture that
information. This disclosure can take several forms: revenue, cost,
units, or other statistics.
www.study-aids.co.uk (c) 2014
38. Interest earned during the year
on unrestricted investments (726)
Cash
Accrued Interest Receivable
Nonoperating Gains –
Unrestricted Investment Income
www.study-aids.co.uk (c) 2014
3,000
2,000
5,000
39. Unrestricted interest earned on
restricted investments (726)
Cash
Nonoperating Gains –
Unrestricted Investment Income
www.study-aids.co.uk (c) 2014
24,000
24,000
40. Donated professional
services (726)
Expenses – Nursing Services
Expenses – Other Prof Serv
Nonoperating Revenues –
Donated Services
17,000
3,000
20,000
Donated services are objectively valued (fair value). Recognize
expense and donation in same entry. Note the net effect on net
assets: zero.
www.study-aids.co.uk (c) 2014
41. Other revenues collected (726)
Cash
Revenues – Cafeteria Sales
Revenues – TV Rentals
Revenues – Medical Record
Transcript Fees
Revenues – Vending
Machine Commissions
www.study-aids.co.uk (c) 2014
95,000
45,000
30,000
15,000
5,000
43. Bonds issued for construction
and debt retirement (726)
Cash – Construction
Cash – Debt Service
Bonds Payable
www.study-aids.co.uk (c) 2014
2,900,000
100,000
3,000,000
44. Mortgage payment and contract
bill received & paid (727)
Mortgage Payable
Cash
Construction in Progress
Cash – Construction
Contracts Payable –
Retained Percentage
www.study-aids.co.uk (c) 2014
100,000
100,000
2,500,000
2,375,000
125,000
45. Sale of Equipment (727)
Cash
Accumulated Depreciation –
Equipment
Nonoperating Losses –
Disposal of Capital
Assets
Equipment
www.study-aids.co.uk (c) 2014
30,000
60,000
10,000
100,000
47. Error correction (727)
Equipment
Expenses – Gen Services
5,000
5,000
An earlier expense entry had included equipment that should have
been capitalized.
www.study-aids.co.uk (c) 2014
50. Restricted government grant
received (728)
Cash – Restricted for Specific
Programs
Deferred Grant Revenues
400,000
400,000
Grant is to defray specific operating costs. Must be used within 18
months or be returned.
www.study-aids.co.uk (c) 2014
51. Purchase of investments
with grant (728)
Investments – Restricted for
Specific Programs
Cash – Restricted for
Specific Programs
www.study-aids.co.uk (c) 2014
300,000
300,000
52. Investments mature at par
Cash – Restricted for Specific
Programs
Investments – Restricted
for Specific Programs
www.study-aids.co.uk (c) 2014
(728)
150,000
150,000
53. Earnings on restricted
investments (728)
Cash – Restricted for Specific
Programs
Nonoperating Gains –
Restricted Investment
Income
www.study-aids.co.uk (c) 2014
15,000
15,000
54. Change in fair value (728)
Investments – Restricted for
Specific Programs
Nonoperating Gains –
Restricted Investment
Income
www.study-aids.co.uk (c) 2014
500
500
55. Donation – principal to
remain intact (728)
Investment – Endowment
Contributions to Permanent
Endowments
www.study-aids.co.uk (c) 2014
200,000
200,000
56. Unrestricted income from
endowment investments (728)
Cash
Nonoperating Gains –
Unrestricted Investment
Income
www.study-aids.co.uk (c) 2014
45,000
45,000
57. Restricted earnings (729)
Cash – Restricted for Plant
Replacement &
Expansion
Nonoperating Gains –
Restricted Investment
Income
15,400
15,400
Earnings are from investments for plant replacement and
expansion. Earnings are restricted for plant replacement and
expansion.
www.study-aids.co.uk (c) 2014
58. Change in value of restricted
investments (729)
Investments – Restricted for
Plant Replacement &
Expansion
Nonoperating Gains –
Restricted Investment
Income
600
600
As with the interest earnings in the previous entry, the change in
fair value is also restricted for plant replacement and expansion.
www.study-aids.co.uk (c) 2014
59. Sold investments (729)
Cash – Restricted for Specific
Programs
Cash
Investments – Restricted
for Specific Programs
Nonoperating Gains –
Unrestricted Investment Income
165,000
5,000
165,000
5,000
Investments cost $165,000 and were sold for $170,000. Gains are
available for unrestricted use.
www.study-aids.co.uk (c) 2014
60. Allowable costs under
Federal grant (729)
Deferred Grant Revenues
Revenues – Federal Grant
200,000
Cash
Cash – Restricted for
Specific Programs
200,000
200,000
200,000
Since allowable costs were included in previously recorded
expenses, grant revenues have been earned. Grant revenues had
been recorded as deferred when grant was received. Cash is
reclassified since earlier expenses had been paid from unrestricted
cash.
www.study-aids.co.uk (c) 2014
64. Balance Sheet
May use either of two formats:
Balance
Sheet – used in this example
Net Assets used in earlier examples
Classified presentation more common
in Balance Sheet format, but may be
used in Net Asset format as well
www.study-aids.co.uk (c) 2014
65. Operating Statement
Same format used for C&Us and Enterprise
Funds – no optional formats for this
statement
Revenues reported at net
Other points
Distinguishing
different revenue sources
Distinguishing between revenues & gains
Distinction between expenses & losses
www.study-aids.co.uk (c) 2014
66. Statement of Cash Flows
Use of the direct method required
No distinction made between
unrestricted and restricted cash flows
www.study-aids.co.uk (c) 2014
67. Nongovernment NFP
Hospital Reporting
Must follow FASB requirements
Similarities with government reporting found with
Patient service revenues
Charity services
Deductions from revenues, except for bad debts
Premium fee revenues
Other revenues
Most expenses
Assets limited as to use
Assets restricted for noncurrent purposes, such as
endowment or plant purposes
www.study-aids.co.uk (c) 2014
68. Key Reporting Differences
Use of net asset classifications from FASB
#117
Use of Statement of Operations and
separate Statement of Changes in Net
Assets
Reporting changes in net asset
classifications
Reporting net assets released from
restrictions
Differences in SCF
www.study-aids.co.uk (c) 2014
69. Nongovernment NFP Hospital
Financial Statements
Balance Sheet
Statement of Operations
Statement of Changes in Net Assets
Statement of Cash Flows – example
shown in textbook is direct method;
most NFP hospitals use the indirect
method, so it is shown here
www.study-aids.co.uk (c) 2014
A
B
C
D