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Sunday, January 19, 2014

Health Care Case Study: Financial Statements

Introduction: In the summary you will read much or less Patton-Fuller Community hospital (PFCH) and how the hospital uses audited and unaudited mo shekelsary statements, reviews their fiscal ratios, and the family relationships among expenses and gross. Other argonas of discussion are the different effects of tax income sources on the financial reporting and how the Patton- Fuller club Hospitals statement deals with the revenue and thither expenses grouping. Audited Versus Unaudited monetary relations In the case of Patton-Fuller Community Hospital (PFCH), there are some differences that were set up in the audited reports (2). For example, in the Statement of Revenue and Expense, there was an additional provision provided for doubtful accounts which brought the net income from the black to the blushing(a) (2). The audited and unaudited Balance Sheets also differ due to an enrollment found in the audit (2). Overall, the two reports were relatively confining and request that there are good controls in dumbfound by the organizations over finances and financial reporting. The Financial Ratios The ratios did not better overall when comparing the unaudited data to the audited data. For example the mean solar days cash on authorize (DCOH) ratio showed 19.68 age on the unaudited data whereas compared to the audited data it was 18.
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26 days. This is not an expediency given the accompaniment that the DCOH decreased by one secure day. This would not be good information for the management or financial teams as the cash flow is decreasing by one day. In addition the qu ick ratio dropped a few points masking that! the organization is becoming less able to pay for the debt it is incurring. kin between Revenue Sources and Expenses The revenue sources relationship with the expenses go hand in hand. The net patient revenue extend discussed in the report by the chief financial officer showed with the plus in revenue there was an increase in expenses. The determination is to keep expenses less then the...If you indirect request to get a full essay, order it on our website: OrderCustomPaper.com

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