Revenue and Financial Statements
This summary is a review of the annual report and financial statements of the Patton-Fuller financial information. This paper will summarize the relationship between revenue sources and expenses and explain the effect of revenue sources on financial reporting and reviewing the annual reports of 2008-2009, and the differences between the audited and the unaudited statements, as well as determine how the hospital’s revenues and expenses are grouped for planning and control.
How did the audited and unaudited financial statements differ?
After going through the annual report of 2008 and 2009 there is a difference in the numbers. The difference is a thousand dollars in the Patient Accounts and Receivable 2009 portion.
How are the hospital’s revenues and expenses grouped for planning and control? Patton - Fuller Community Hospital Statement of Revenue and Expense in 2009 – 2008 are grouped by categories, expenses, revenues, salaries, benefits, supplies, physicians, utilities, interest operating income and non- operating incomes. The Measuring of hospital financial performance is generally performed by evaluating margins for example the difference in revenue vs. the expenses. The Patton Fuller Community Hospital uses two financial proportions to measure the hospital’s financial performance. Both proportions compare the revenue received by a hospital counter to its operating expenses. The change lies in what revenue items are included in each proportion formula. The Patton Fuller Community Hospital likewise looks at the number of operating for each of these financial parts, the operating sideline is the most commonly financial ratios used to measure a hospital’s financial performance. It compares a hospital’s total operating revenue in contradiction of its total operating expenses; this is often referred to as net from operations. If total operating revenue exceeds total operating expenses, the hospital is operating at a profit and will ensure a positive
How did the audited and unaudited financial statements differ?
After going through the annual report of 2008 and 2009 there is a difference in the numbers. The difference is a thousand dollars in the Patient Accounts and Receivable 2009 portion.
How are the hospital’s revenues and expenses grouped for planning and control? Patton - Fuller Community Hospital Statement of Revenue and Expense in 2009 – 2008 are grouped by categories, expenses, revenues, salaries, benefits, supplies, physicians, utilities, interest operating income and non- operating incomes. The Measuring of hospital financial performance is generally performed by evaluating margins for example the difference in revenue vs. the expenses. The Patton Fuller Community Hospital uses two financial proportions to measure the hospital’s financial performance. Both proportions compare the revenue received by a hospital counter to its operating expenses. The change lies in what revenue items are included in each proportion formula. The Patton Fuller Community Hospital likewise looks at the number of operating for each of these financial parts, the operating sideline is the most commonly financial ratios used to measure a hospital’s financial performance. It compares a hospital’s total operating revenue in contradiction of its total operating expenses; this is often referred to as net from operations. If total operating revenue exceeds total operating expenses, the hospital is operating at a profit and will ensure a positive