Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Budgeting
From the onset, it would be prudent to note that as Maynard (2017) points out, In the healthcare industry, anoperating budget is the forecasted expenditures and revenues for the coming year (211). UMGC Health Care operates in the healthcare realm. The relevance of its operating budget cannot therefore be overstated when it comes to planning operations. This is more so the case given that it brings together all the relevant expenses as well as revenues for a given period of time, i.e. a year as is the case in the present scenario. It is important to note that in line with standard practice, UMGC Health Cares operating budget was formulated prior to the reporting period. For this reason, it could be viewed as the objective that this particular organization is interested in achieving. The two crucial components that were taken into consideration were revenues and expenses. A total of 4 revenue components were included. These were; fee-for-service, private pay, fundraiser, and grants. On the other hand, following the...
The said expenses were salaries, benefits, rent, insurance, overhead, as well as supplied and depreciation.
There are various formats that could be used in the grouping of revenues and expenses in the financial statements for control as well as planning purposes. In basic terms, expenses could be grouped in terms of variable expenses, fixed expenses, non-operating expenses, and non-cash expenses. To give a few examples, in the case of UMGC Health Care, fixed expenses were inclusive of salaries, insurance, etc. Non-cash expenses, on the other hand, were inclusive of depreciation.
There are a number of differences between accrual financial systems and cash financial systems. To a large extent, the two differ when it comes to the recording of crucial transactions such as revenue and expenses. To begin with,…
References
Deegan, C. (2014). Financial Accounting Theory. McGraw-Hill Education
Maynard, J. (2017). Financial Accounting, Reporting, and Analysis. Oxford University Press.
Healthcare Health Care Law Ethics Health care over the years has become one of the most important debates to take place within the United States of America. This fact holds particularly true for the major part of the Obama Administrations whose New Health Care policies has been criticized extremely (Zhi Qu, 2010). The world, however, is still waiting for the final curtain to rise and to witness the climax which would be
Healthcare Economics Overall Healthcare And Economics Healthcare economics: Current challenges from a nursing perspective Although the subject of healthcare economics has been hotly-debated, on one issue there is widespread agreement: the aging of the population will substantively increase the demand for healthcare in the near and far future. As the population worldwide is aging and living longer, the need for essential services over a longer lifespan will generate more costs for an already-beleaguered
Health Care As human beings, our health and longevity have never been better. Many people today live to 100 years and beyond, and often in good and active health. One of the major reasons for this is better health care and more access to health care for more people. On the other hand, however, many people do not have access to the same health care services as others. Often, the main
The amendments have had practical impacts such as repealing the tax mandate of the employer, health insurance tax of small businesses and decreasing the burdens on individuals and businesses. The compliance cost for small business owners has risen by 36% higher than that of larger corporations. Similarly, the average U.S. citizen has already been overtaxed. Since the passing of the Affordable Care Act, Americans have not enjoyed the benefits that
With that in mind, even more changes will be coming to the planet in the near future. Even within the next 10 years, those changes are going to become more obvious and the health of people who are ingesting these chemicals and modified foods will likely begin to decline. When that gets coupled with the obesity epidemic, there will be a generation that will not live as long as
Health Care Professionals Healthcare professionals The paper is based on the healthcare professionals. It starts by analyzing the reasons why there may be physician shortage rather than a surplus in the United States. The paper as well analyses the factors that contribute to the nursing shortage in the U.S. And the roles of health professionals within the health care system. Lastly it covers the roles of a health service administrator within health