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