Financial Environments Financial Environments The discussion of profit and not-for- profit organizations has been analyzed and discussed in essays and research papers for years. When you include government funded organizations into the mix this tends to bring about some very interesting discussions. There are similarities and differences among the three different environments. Some key identifiers that shed light into the similarities and differences include where the organizations get
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Government and Not-For-Profit Environment TRUE/FALSE (CHAPTER 1) 1. F The main objective of a typical governmental or not-for-profit entity is to earn a profit. 2. TA government’s budget may be backed by the force of law. 3. FGovernmental entities have no need for an accounting system. 4. TA government’s internal managers rely on general purpose financial statements for a considerable amount of information about their government. 5. FGovernments and not-for-profits may never engage
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3101AFE TUTORIAL 2 - Semester 2 2013 Deegan Topics 2 and 3: The financial reporting environment and Regulation of financial accounting 2.1 What expectations do accounting standard-setters have about the accounting knowledge of financial statement readers? Accounting standard-setters have an expectation that the readers of general purpose financial reports have a ‘reasonable knowledge’ of accounting. Specifically‚ the IASB Framework states that ‘users are expected to have
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The Financial Environment: Markets‚ Institution and Investment Banking Financial Markets * Refers to a conceptual “mechanism” rather than a physical location or a specific type of organization or structure * As a system that includes individuals and institution‚ instruments and procedures that bring together borrowers and savers‚ no matter the location Importance of Financial Markets: * The primary role of financial market is to facilitate the flow of funds from individuals and
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For-Profit Not-for-Profit Government Examples 1.hospital 2.clinic or physician groups 3.nursing home 1.hospital 2.clinic or physician group(ie.‚ Doctors w/o Borders) 3. nursing home 1. hospital (ie.‚ Veteran’s) 2.clinic or physician group 3. nursing home Similarities 1. Revenues must be accounted for on balance sheet 2. Expenditures must be accurate and verifiable 3. Runs business as usual‚ same as others 1. Provide services that are targeted to groups of constituents who advocate a political
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Financial Environments Worksheet Julie Misayvanh HCS 577 November 3‚ 2013 Sharon Gomes-Sanders Financial Environments Worksheet For-Profit Not-for-Profit Government Examples 1. Largo Medical Center 2. Memorial Hospital 3. Blake Medical Center 1. National Jewish Health 2. Mayo Clinic 3. Sutter Health 1. Veteran Affairs 2. Department of Defense 3. City Health Department Similarities Expenses must be accurate and verifiable. Organizations must generate revenue to pay for expenses
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and other financial partners within a health care system. Health care systems cannot provide care for their patients without the financial structure of the organization. The financial structure is truly the core of the organization. The success or failure of a health care system depends on the ability to run a strong financial operation behind the scenes while providing quality care to patient. All three entities for-profit‚ not-for-profit‚ and government funding organizations have financial structures
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1. What is the purpose of financial statement analysis? It show trends and relationships. These also help predict the future‚ show weaknesses‚ strengths. The ratios usually are compared to other companies within the industry and industry average to see where the company stands. Source: http://answers.yahoo.com/question/index?qid=20080215185426AACTP6A 2. If a company had sales of $2‚587‚643 in 1998 and sales of $3‚213‚456 in 2003‚ by what percentage did sales change during this time period
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the Problem The Chief Financial Officer (CFO) primarily represents the highest position level of fiscal leadership and financial management service in the business sector. As a member of the organization’s executive leadership and management team‚ the CFO currently occupies a very crucial and viable position in today’s global business society. However‚ this present level of CFO’s recognition has not always been identifiable or appreciated by non-for-profit and profit organizations. May (2001)
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Financial Environment Comparative Summary The financial structures of health care entities not-for-profit‚ for-profit‚ and government are different with funding‚ ownership‚ and type of services provided. Financial managers‚ financial markets‚ and investors are the components that make up the financial environment. Financial managers rely on investors to supply funds through financial markets when determining whether to use debt or equity financing. To ensure full utilization of financial resources
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