C428 wgu

C428 wgu Controller - ANS Responsible for accounting and reporting activities, such as routine budgeting, preparation of financial statements, and patient accounts management. CFO - ANS Is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management. FInance manager - ANS looks at strategic opportunities Treasurer - ANS is responsible for the acquisition and management of capital (funds). In other words, the treasurer must raise the funds needed by the organization and ensure that those funds are effectively used. Corporation - ANS tax entity, board of directors S-corporation - ANS sole owner, smaller version of corp LLP - ANS each partner only liable for amount they invested corporate bonds - ANS issued by for profit industry municipal bonds - ANS state/federal, allows public to invest in municipal area w/o raising taxes NPV - ANS uses discounted cash flows and discount rate IRR - ANS is used in the npv calculation and measures the internal rate of return for a set of cash flows break-even analysis - ANS used to determine the point at which the project investment will generate a positive return payback method - ANS used to determine how long it will take you to recoup or breakeven on an investment post-audit - ANS this process is used after a project has been executed to check for outcomes to ensure that the project produced accurate results Variance - ANS compare what you budgetted vs. what you actually spent comparative - ANS existing to new horizontal - ANS looking across mulitple years cash accounting - ANS paying a copay accrual accounting - ANS recognize revenue as soon as it happens managing liquidity - ANS looking at revenue cycles fixed costs - ANS remain the same regardless of sales variable costs - ANS costs change based on your sales activity direct costs - ANS expenses that directly go into producing goods or providing services (direct labor, direct materials, manufacturing supplies) indirect costs - ANS general business expenses that keep you operating (rent, utilities, general office expenses) Income statement - ANS Paycheck, revenue, expenses Balance sheet - ANS statement of net worth, assets, liabilities, equity statement of cash flows - ANS checkbook, contains: operating, financing, & investing Financial statement analysis - ANS used to measure the performance and health of an organization Total profit margin - ANS (NI/R) Operating margin - ANS (OI/OR) only looking at income that comes from doing a service for a client Return on assets - ANS (NI/A) how well asset performing for you Return on equity - ANS (NI/E) going into partnership with someone Current ratio - ANS (CA/CL) Days cash on hand - ANS (Cash & CE + STI) / Ave. daily exp Debt ratio - ANS (L/A) Times interest earned - ANS (Earings + Interest) / Interest Comparison limitation - ANS make sure on same revenue cycle Generalization limitation - ANS be careful not to generalize assumption Variation limitation - ANS actual # to budgetted Distortion limitation - ANS take into account inflation Accrual - ANS accrual basis accounting is required by GAAP asset - ANS resources owned or owed capital structure - ANS the relationship of an entity's debt to its net assets or equity and an entity's ability to meet its long-term obligation from its income Fee schedule - ANS list of prices that a payer or the govt pays a provider for a service