MHA 706 Final Exam with Complete questions and correct verified answers (detailed answers) already Graded A+

MHA 706 Final Exam with Complete questions
and correct verified answers (detailed
answers) already Graded A+




Health care finance - {✔✔RESOLUTION RESULT VERIFIED
ANSWERS✔✔}-the practice of finance, including both accounting &
financial management, within health services (provider) organizations

,Accounting - {✔✔RESOLUTION RESULT VERIFIED ANSWERS✔✔}-
The process of planning, recording, analysing, and interpreting financial
information.


Are accounting & financial mgmt. independent? -
{✔✔RESOLUTION RESULT VERIFIED ANSWERS✔✔}-No, both
capture, measure, & use data, but with different purpose


characteristics of business: - {✔✔RESOLUTION RESULT VERIFIED
ANSWERS✔✔}-1) obtains financing from marketplace
2) uses funds to buy assets
3) operates the assets to provide goods or services
4) sells goods or services to create revenue


primary role of finance - {✔✔RESOLUTION RESULT VERIFIED
ANSWERS✔✔}-to plan for, acquire, & utilize resources to maximize
the efficiency (& hence value) of the enterprise


finance activities - {✔✔RESOLUTION RESULT VERIFIED
ANSWERS✔✔}-1) planning & budgeting
2) financial reporting
3) capital investment decisions
4) financing decisions

, 5) working capital management
6) contract management
7) financial risk management


Four C's (summarize finance activities) - {✔✔RESOLUTION RESULT
VERIFIED ANSWERS✔✔}-1) Cost minimization
2) Cash sufficiency
3) Capital access
4) Control of financial resources


finance dept usually organized as follows: - {✔✔RESOLUTION RESULT
VERIFIED ANSWERS✔✔}CFO (VP-Finance)
Comptroller
Treasurer


Comptroller - {✔✔RESOLUTION RESULT VERIFIED ANSWERS✔✔}-
handles budgeting & reporting & payables & receivables mgmt


Treasurer - {✔✔RESOLUTION RESULT VERIFIED ANSWERS✔✔}-
handles acquisition & employment of capital, debt mgmt, & financial
risk mgmt