©SIRJOEL EXAM SOLUTIONS
10/10/2024 11:44 AM
HCAD 760 MIDTERM Exam Questions
With Verified Answers.
Definition of healthcare finance depends on the context of: - answer✔1) policymaker or manager
2) type of healthcare organization
the practice of finance, including both accounting & financial management, within health
services (provider) organizations - answer✔health care finance
measurement, in financial (dollar) terms, of events that reflect the resources, operations, &
financing of an organization; external reports, taxes - answer✔accounting
theory, concepts, & tools necessary to help managers make better financial decisions; internal,
improves organization's opportunities & efficiency - answer✔financial management
accounting & financial mgmt independent? - answer✔No, both capture, measure, & use data, but
with different purpose
characteristics of business: - answer✔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
goals of business (for profit) - answer✔max shareholder return
goals of pure charity - answer✔max community or mission benefit
to plan for, acquire, & utilize resources to maximize the efficiency (& hence value) of the
enterprise - answer✔primary role of finance
finance activities - answer✔1) planning & budgeting
2) financial reporting
, ©SIRJOEL EXAM SOLUTIONS
10/10/2024 11:44 AM
3) capital investment decisions
4) financing decisions
5) working capital management
6) contract management
7) financial risk management
GAAP - answer✔Generally Accepted Accounting Principles
Four C's (summarize finance activities) - answer✔1) Cost minimization
2) Cash sufficiency
3) Capital access
4) Control of financial resources
finance dept usually organized as follows: - answer✔CFO (VP-Finance)
Comptroller
Tresurer
handles budgeting & reporting & payables & receivables mgmt - answer✔comptroller
handles acquisition & employment of capital, debt mgmt, & financial risk mgmt -
answer✔treasurer
__________________________ decreases possibility of stealing - answer✔segregation of duties
health service settings - answer✔hospital (inpatient)
ambulatory (outpatient)
long-term care
integrated delivery systems
Mgmt challenges - ACHE - answer✔financial concerns
medicaid
medicare
indigent care & bad debt losses
10/10/2024 11:44 AM
HCAD 760 MIDTERM Exam Questions
With Verified Answers.
Definition of healthcare finance depends on the context of: - answer✔1) policymaker or manager
2) type of healthcare organization
the practice of finance, including both accounting & financial management, within health
services (provider) organizations - answer✔health care finance
measurement, in financial (dollar) terms, of events that reflect the resources, operations, &
financing of an organization; external reports, taxes - answer✔accounting
theory, concepts, & tools necessary to help managers make better financial decisions; internal,
improves organization's opportunities & efficiency - answer✔financial management
accounting & financial mgmt independent? - answer✔No, both capture, measure, & use data, but
with different purpose
characteristics of business: - answer✔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
goals of business (for profit) - answer✔max shareholder return
goals of pure charity - answer✔max community or mission benefit
to plan for, acquire, & utilize resources to maximize the efficiency (& hence value) of the
enterprise - answer✔primary role of finance
finance activities - answer✔1) planning & budgeting
2) financial reporting
, ©SIRJOEL EXAM SOLUTIONS
10/10/2024 11:44 AM
3) capital investment decisions
4) financing decisions
5) working capital management
6) contract management
7) financial risk management
GAAP - answer✔Generally Accepted Accounting Principles
Four C's (summarize finance activities) - answer✔1) Cost minimization
2) Cash sufficiency
3) Capital access
4) Control of financial resources
finance dept usually organized as follows: - answer✔CFO (VP-Finance)
Comptroller
Tresurer
handles budgeting & reporting & payables & receivables mgmt - answer✔comptroller
handles acquisition & employment of capital, debt mgmt, & financial risk mgmt -
answer✔treasurer
__________________________ decreases possibility of stealing - answer✔segregation of duties
health service settings - answer✔hospital (inpatient)
ambulatory (outpatient)
long-term care
integrated delivery systems
Mgmt challenges - ACHE - answer✔financial concerns
medicaid
medicare
indigent care & bad debt losses
