Paying by the Rules
Budgets, balance sheets, and other accounting tools provide a wealth of information for managers, but only if they know what they are looking at. It is time to learn the language and rules of finance!
To prepare for this Discussion, complete the readings in your Learning Resources. Think about the financial decisions of many health care settings.
By Day 4, post a comprehensive response to the following:
• How might the basic accounting rules under the accrual principle differ for you as an individual (or family) from those applied in a health care setting?
• How are financial statements used to demonstrate the financial health of a health care setting? Select three key terms from the chapters (pp. 180 & 206) and explain how those key factors influence financial reporting in health care.
Langabeer, J. (2007). The fallacy of financial heuristics. Journal of Health Care Finance, 34(2), 81–88. Retrieved from the Walden Library databases.
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