HFMA's CSAF , Certified Specialist
Accounting and Finance
- ANS-
3 Benefits of danger management - ANS-Reduced price of chance, less disruption, greater
effective use of sources
three classes of securities - ANS-Held-to-adulthood, trading, to be had-for-sale
3 instructions of internet property - ANS-Unrestricted, quickly restrained, permanently
confined
3 situations of Unrelated exchange or commercial enterprise: - ANS-alternate or commercial
enterprise, carried on frequently, no longer notably related to the exempt reason of the
employer
three Costs of danger control - ANS-Value misplaced from incidents, possibilities passed as
too unstable, price of administering chance management
three Exclusions to unrelated exchange or enterprise: - ANS-Without reimbursement; for
convenience of contributors college students, sufferers, officials, or employees; selling
products.
Three healthcare companies - ANS-Investor-owned, now not-for-earnings, governmental
A budgeting manner develops assumptions for the subsequent: - ANS-Admissions, ALOS,
Expense consistent with visit, Inflation on cost, FTE per visit, Productivity on FTE in step with
visit, Labor price in line with FTE, Net Rev according to visit
A Compliance Plan carries eight factors: - ANS-Full assist of business enterprise &
compliance officer, written procedures, comprehensive education and training application,
hotline, due diligence with employment of sanction individuals, policies and requirements,
oversight of employees, mechanisms for tracking compliance, disciplinary degree for
employees
A federally funded and administered program of health insurance - ANS-**A. Medicare
B. Medicaid
A hire is classed if meets any person of four criteria. - ANS-**A. Capital Lease
B. Operating Lease
,A device prices us $15,000. We may have a net profits of $6,000 in year 1, $6,000 in year 2,
$2,500 in year 3, and $2,500 in yr four. The salvage price of the device is $2,000.
Assuming we are able to borrow cash at 15%, and the cut price factors are zero.870 for 12
months 1, zero.756 for yr 2, zero.658 for year three, and 0.572 for yr four, have to we
purchase the device? - ANS-Yes
**No
A device costs us $15,000. We could have a internet profits of $6,000 in 12 months 1,
$6,000 in 12 months 2, $2,500 in 12 months three, and $2,500 in yr 4. The salvage fee of
the device is $2,000.
Assuming we are able to borrow money at 15%, and the bargain elements are zero.870 for
yr 1, 0.756 for 12 months 2, zero.658 for 12 months three, and 0.572 for year 4, should we
purchase the system? - ANS-Yes
**No
A main price to fitness care businesses is excessive-tech system. Fixed Asset management
ratios can assist managers understand how much bang for his or her buck they are getting
from their highly-priced assets. The Fixed asset turnover ratio mainly measures how
successfully assets are converted into revenue. Compute the Fixed Asset ratio the use of
relevant statistics from the following: Total Patient Service Revenue $250 million, Operating
Revenue $75 million, high-tech system cost $25 million, Accumulated depreciation $10
million. The Fixed Asset Turn Over Ratio is - ANS-A. 10
B. Three
**C. Five
D. 17
A Strategic Plan lets in groups to - ANS-have a clear plan as to why they may be in
commercial enterprise and the way they can live in business inside the destiny.
Accounting for contemporary liabilities of healthcare corporations is much like that of
__________. - ANS-**A. Other business establishments
B. Deferred repayment arrangements
C. Governmental healthcare entities
D. Compensated absences
Accounts for Plant, Property, Equipment - ANS-Land, Land upgrades, homes and
improvements, leasehold improvements, device (Fixed and movable), Leased assets and
system, gathered depreciation and amortization, and production in development
Accounts payable - ANS-**Yes
No
Accrued salaries and payroll Taxes - ANS-**Yes
No
Activity-based costing (ABC) - ANS-Method of determining product prices using value
drivers or pastime measures, which reason oblique charges to be incurred.
,Activity-primarily based costing is - ANS-A. Another time period for the proportional
allocation technique
**B. A technique of figuring out product fees the use of price drivers or hobby measures that
motive oblique charges to be incurred
C. Less pricey to determine due to the important facts series
D. Generally taken into consideration a much less accurate costing approach
Administered at the same time through the federal and state governments - ANS-A.
Medicare
**B. Medicaid
Advance refunding allows providers: - ANS-to restructure their lengthy-term liabilities, lessen
hobby rates, or terminate restrictive bond covenants
Advantages of leasing - ANS-running capital is conserved, budgetary manipulate, tax
blessings can be found out, project may be financed a hundred%, lessee has greater
flexibility in changing system
AICPA's Audit of Providers of Health Care Guide identifies - ANS-strategies for quantifying
and valuing uncompensated care.
All incidents going on in the insured period would be blanketed regardless of when they have
been identified or said. - ANS-**A. Occurrence basis
B. Claims-made basis
All of the benefits and dangers of ownership were efficiently transferred to the lessee,
besides the lessee doesn't get name to the asset or any value at the give up of the hire. -
ANS-**A. Capital Lease
B. Operating Lease
All of the following are proper of a bond transaction running institution, except: - ANS-A. It is
shaped on the time the borrower comes to a decision to begin the procedure of issuing debt.
B. The borrower's control usually works with the organization's financial guide or investment
banker to expand a preliminary shape for the debt.
C. Preliminary discussions with bond counsel can be held to determine any tax outcomes.
**D. Generally the issuer, the borrower, and the underwriter are simplest represented by way
of legal counsel at the stop of the method.
All partial bills by charity care patients - ANS-**Yes
No
Allow a non-earnings employer to enter right into a joint task address minimum up-the front
capital investments because of the tax benefits that glide to the for-profit corporations. -
ANS-**Benefit
Risk
, Allow an entity to remain aggressive in its market while it can not achieve this by itself. -
ANS-**Benefit
Risk
Allow entities to unfold the dangers associated with a deal. - ANS-**Benefit
Risk
Allow the events to mix their economic sources and might deliver them get right of entry to to
extra resources of capital. - ANS-**Benefit
Risk
An settlement between a health plan and the issuer exists to provide affected person care to
patients at a predetermined quantity. - ANS-A. Patient Service Revenues
**B. Premium Revenues
An indication of ways lengthy an employer can assist operations without a inflows of cash is
referred to as - ANS-A. Average Payment Period
**B. Days Cash on Hand
C. Days in Accounts Receivable (internet)
D. Current ratio
An investment policy - ANS-Establishes a framework to make investment choices and
compare results
An working rent is - ANS-whilst the medical institution is responsible for the leasing fee;
renewal options are determined by means of the truthful market price
Any property drawn down as withdrawals from a bank. - ANS-True
**False
Any alternate or commercial enterprise carried on by way of a 501(c)(3) business enterprise,
or with the aid of a governmental college or college, in general for the convenience of its
individuals, students, sufferers, officers, or personnel. - ANS-A. UBI condition
**B. UBI excluded hobby
Any trade or commercial enterprise wherein considerably all the paintings in wearing on the
enterprise is done for the business enterprise without reimbursement. - ANS-A. UBI
circumstance
**B. UBI excluded hobby
Any exchange or enterprise that consists of promoting products, considerably all of which
has been received by using the agency as presents or contributions. - ANS-A. UBI
circumstance
**B. UBI excluded hobby
Arrived at through a collection or association of businesses with similar traits (for instance, a
published relative value scale). - ANS-**A. Predetermined
B. Negotiated
Accounting and Finance
- ANS-
3 Benefits of danger management - ANS-Reduced price of chance, less disruption, greater
effective use of sources
three classes of securities - ANS-Held-to-adulthood, trading, to be had-for-sale
3 instructions of internet property - ANS-Unrestricted, quickly restrained, permanently
confined
3 situations of Unrelated exchange or commercial enterprise: - ANS-alternate or commercial
enterprise, carried on frequently, no longer notably related to the exempt reason of the
employer
three Costs of danger control - ANS-Value misplaced from incidents, possibilities passed as
too unstable, price of administering chance management
three Exclusions to unrelated exchange or enterprise: - ANS-Without reimbursement; for
convenience of contributors college students, sufferers, officials, or employees; selling
products.
Three healthcare companies - ANS-Investor-owned, now not-for-earnings, governmental
A budgeting manner develops assumptions for the subsequent: - ANS-Admissions, ALOS,
Expense consistent with visit, Inflation on cost, FTE per visit, Productivity on FTE in step with
visit, Labor price in line with FTE, Net Rev according to visit
A Compliance Plan carries eight factors: - ANS-Full assist of business enterprise &
compliance officer, written procedures, comprehensive education and training application,
hotline, due diligence with employment of sanction individuals, policies and requirements,
oversight of employees, mechanisms for tracking compliance, disciplinary degree for
employees
A federally funded and administered program of health insurance - ANS-**A. Medicare
B. Medicaid
A hire is classed if meets any person of four criteria. - ANS-**A. Capital Lease
B. Operating Lease
,A device prices us $15,000. We may have a net profits of $6,000 in year 1, $6,000 in year 2,
$2,500 in year 3, and $2,500 in yr four. The salvage price of the device is $2,000.
Assuming we are able to borrow cash at 15%, and the cut price factors are zero.870 for 12
months 1, zero.756 for yr 2, zero.658 for year three, and 0.572 for yr four, have to we
purchase the device? - ANS-Yes
**No
A device costs us $15,000. We could have a internet profits of $6,000 in 12 months 1,
$6,000 in 12 months 2, $2,500 in 12 months three, and $2,500 in yr 4. The salvage fee of
the device is $2,000.
Assuming we are able to borrow money at 15%, and the bargain elements are zero.870 for
yr 1, 0.756 for 12 months 2, zero.658 for 12 months three, and 0.572 for year 4, should we
purchase the system? - ANS-Yes
**No
A main price to fitness care businesses is excessive-tech system. Fixed Asset management
ratios can assist managers understand how much bang for his or her buck they are getting
from their highly-priced assets. The Fixed asset turnover ratio mainly measures how
successfully assets are converted into revenue. Compute the Fixed Asset ratio the use of
relevant statistics from the following: Total Patient Service Revenue $250 million, Operating
Revenue $75 million, high-tech system cost $25 million, Accumulated depreciation $10
million. The Fixed Asset Turn Over Ratio is - ANS-A. 10
B. Three
**C. Five
D. 17
A Strategic Plan lets in groups to - ANS-have a clear plan as to why they may be in
commercial enterprise and the way they can live in business inside the destiny.
Accounting for contemporary liabilities of healthcare corporations is much like that of
__________. - ANS-**A. Other business establishments
B. Deferred repayment arrangements
C. Governmental healthcare entities
D. Compensated absences
Accounts for Plant, Property, Equipment - ANS-Land, Land upgrades, homes and
improvements, leasehold improvements, device (Fixed and movable), Leased assets and
system, gathered depreciation and amortization, and production in development
Accounts payable - ANS-**Yes
No
Accrued salaries and payroll Taxes - ANS-**Yes
No
Activity-based costing (ABC) - ANS-Method of determining product prices using value
drivers or pastime measures, which reason oblique charges to be incurred.
,Activity-primarily based costing is - ANS-A. Another time period for the proportional
allocation technique
**B. A technique of figuring out product fees the use of price drivers or hobby measures that
motive oblique charges to be incurred
C. Less pricey to determine due to the important facts series
D. Generally taken into consideration a much less accurate costing approach
Administered at the same time through the federal and state governments - ANS-A.
Medicare
**B. Medicaid
Advance refunding allows providers: - ANS-to restructure their lengthy-term liabilities, lessen
hobby rates, or terminate restrictive bond covenants
Advantages of leasing - ANS-running capital is conserved, budgetary manipulate, tax
blessings can be found out, project may be financed a hundred%, lessee has greater
flexibility in changing system
AICPA's Audit of Providers of Health Care Guide identifies - ANS-strategies for quantifying
and valuing uncompensated care.
All incidents going on in the insured period would be blanketed regardless of when they have
been identified or said. - ANS-**A. Occurrence basis
B. Claims-made basis
All of the benefits and dangers of ownership were efficiently transferred to the lessee,
besides the lessee doesn't get name to the asset or any value at the give up of the hire. -
ANS-**A. Capital Lease
B. Operating Lease
All of the following are proper of a bond transaction running institution, except: - ANS-A. It is
shaped on the time the borrower comes to a decision to begin the procedure of issuing debt.
B. The borrower's control usually works with the organization's financial guide or investment
banker to expand a preliminary shape for the debt.
C. Preliminary discussions with bond counsel can be held to determine any tax outcomes.
**D. Generally the issuer, the borrower, and the underwriter are simplest represented by way
of legal counsel at the stop of the method.
All partial bills by charity care patients - ANS-**Yes
No
Allow a non-earnings employer to enter right into a joint task address minimum up-the front
capital investments because of the tax benefits that glide to the for-profit corporations. -
ANS-**Benefit
Risk
, Allow an entity to remain aggressive in its market while it can not achieve this by itself. -
ANS-**Benefit
Risk
Allow entities to unfold the dangers associated with a deal. - ANS-**Benefit
Risk
Allow the events to mix their economic sources and might deliver them get right of entry to to
extra resources of capital. - ANS-**Benefit
Risk
An settlement between a health plan and the issuer exists to provide affected person care to
patients at a predetermined quantity. - ANS-A. Patient Service Revenues
**B. Premium Revenues
An indication of ways lengthy an employer can assist operations without a inflows of cash is
referred to as - ANS-A. Average Payment Period
**B. Days Cash on Hand
C. Days in Accounts Receivable (internet)
D. Current ratio
An investment policy - ANS-Establishes a framework to make investment choices and
compare results
An working rent is - ANS-whilst the medical institution is responsible for the leasing fee;
renewal options are determined by means of the truthful market price
Any property drawn down as withdrawals from a bank. - ANS-True
**False
Any alternate or commercial enterprise carried on by way of a 501(c)(3) business enterprise,
or with the aid of a governmental college or college, in general for the convenience of its
individuals, students, sufferers, officers, or personnel. - ANS-A. UBI condition
**B. UBI excluded hobby
Any trade or commercial enterprise wherein considerably all the paintings in wearing on the
enterprise is done for the business enterprise without reimbursement. - ANS-A. UBI
circumstance
**B. UBI excluded hobby
Any exchange or enterprise that consists of promoting products, considerably all of which
has been received by using the agency as presents or contributions. - ANS-A. UBI
circumstance
**B. UBI excluded hobby
Arrived at through a collection or association of businesses with similar traits (for instance, a
published relative value scale). - ANS-**A. Predetermined
B. Negotiated
