NR 533 FINANCIAL MANAGEMENT IN
HEALTHCARE ORGANIZATIONS
CERTIFICATION EVALUATION EXAMS SOLVED
QUESTIONS STUDY GUIDE GUARANTEED TO
PASS
◉ Statement of Operations (Income Statement or Statement of
Revenues and Expenses). Answer: Details the organization's revenues
and expenses during the accounting period - typically, one year.
◉ Statement of Changes in Net Assets. Answer: Lists how equity
changed during the period
◉ Statement of Cash Flows. Answer: Describes how cash was
generated and used
◉ Notes to the Financial Statements (Footnotes). Answer: Provide
detail on the organization's structure, accounting practices, and
financial standing. Not considered to be part of the four primary
financial statements.
◉ Current Assets:. Answer: Assets that are expected to be exchanged
for cash or consumed during the operating cycle of the entity (or one
year, whichever is longer)
, ◉ Cash & Cash Equivalents:. Answer: Cash consists of coin,
currency, and available deposited funds at banks. Cash equivalents
include savings accounts, certificates of deposit, and other temporary
marketable securities.
◉ Accounts Receivable:. Answer: Represent legally enforceable
claims on customers for prior services or goods.
◉ Assets Whose Use is Limited:. Answer: Typically, cash and
investments that can only be spent for specific purposes
◉ Property and Equipment:. Answer: Represent investment in
tangible, permanent assets; they are sometimes referred to as the
capital assets (or net fixed assets) of the organization.
◉ Allowance for (Accumulated) Depreciation:. Answer: Represents
the accumulated depreciation taken on the asset to the date of the
financial statement - this is different than "depreciation expense" on
the Income Statement.
◉ Goodwill:. Answer: Represents the difference between the price
paid to acquire another entity and the fair market value of the
acquired entity's assets, less any related obligations or liabilities
HEALTHCARE ORGANIZATIONS
CERTIFICATION EVALUATION EXAMS SOLVED
QUESTIONS STUDY GUIDE GUARANTEED TO
PASS
◉ Statement of Operations (Income Statement or Statement of
Revenues and Expenses). Answer: Details the organization's revenues
and expenses during the accounting period - typically, one year.
◉ Statement of Changes in Net Assets. Answer: Lists how equity
changed during the period
◉ Statement of Cash Flows. Answer: Describes how cash was
generated and used
◉ Notes to the Financial Statements (Footnotes). Answer: Provide
detail on the organization's structure, accounting practices, and
financial standing. Not considered to be part of the four primary
financial statements.
◉ Current Assets:. Answer: Assets that are expected to be exchanged
for cash or consumed during the operating cycle of the entity (or one
year, whichever is longer)
, ◉ Cash & Cash Equivalents:. Answer: Cash consists of coin,
currency, and available deposited funds at banks. Cash equivalents
include savings accounts, certificates of deposit, and other temporary
marketable securities.
◉ Accounts Receivable:. Answer: Represent legally enforceable
claims on customers for prior services or goods.
◉ Assets Whose Use is Limited:. Answer: Typically, cash and
investments that can only be spent for specific purposes
◉ Property and Equipment:. Answer: Represent investment in
tangible, permanent assets; they are sometimes referred to as the
capital assets (or net fixed assets) of the organization.
◉ Allowance for (Accumulated) Depreciation:. Answer: Represents
the accumulated depreciation taken on the asset to the date of the
financial statement - this is different than "depreciation expense" on
the Income Statement.
◉ Goodwill:. Answer: Represents the difference between the price
paid to acquire another entity and the fair market value of the
acquired entity's assets, less any related obligations or liabilities
