Hcs 577 Comparative Summary
Comparative Summary
June 15, 2015
Maria Gaza
HCS/577
In the health care industry there are different types program sector organizations, which has its own uniqueness. The different sectors of health care are divided amongst the for-profit, non-profit, and government organizations because they all have a common goal but the financial aspect is the same when it comes to providing care to patients. Within the three types of organization types, the financial need is collected and reported differently due to the organization common goal, financial environment and community outlook. In my research, to give a clearer picture I have chosen an organization that represents each health care sectors environment and they are: Health …show more content…
While doing my research I have come across how ACS has used the fund that has been donated throughout the year to do research. “In the nonprofit world, financial efficiency ratios because of their simplicity, ease of calculation and presentation, and apparent comparability between nonprofits have been the default metric. However, many nonprofit experts and watchdog groups have come to realize that simple formula comparisons do not reflect the complexity of the sector and, while useful, do not provide a meaningful analysis of overall effectiveness” (American Cancer Society Stewardship …show more content…
“The Financial Management and Accounting Systems Office establishes and implements policies and procedures governing financial management and accounting, internal controls management, and analysis of financial information and activities in support of financial statement reporting” (www.va.gov/ofcadmin/docs). The Resource Management Office provides VHA budget formulation, allocation, execution and analysis, and health care workload and cost analyses. The Financial Assistance Office is responsible to overlook audits and overlook special program fiscal performance, compliance with fiscal policy and Federal accounting rules, and clarifies applied finance guidelines. The Managerial Cost Accounting Office (MCAO) holds and provides information services from the VA’s managerial cost accounting system, the Decision Support System (DSS), in full compliance with public laws (www.va.gov/ofcadmin/docs). DSS is an activity based cost system that gives the full cost of VA products and services throughout the process of financial and workload feeds from several VA
June 15, 2015
Maria Gaza
HCS/577
In the health care industry there are different types program sector organizations, which has its own uniqueness. The different sectors of health care are divided amongst the for-profit, non-profit, and government organizations because they all have a common goal but the financial aspect is the same when it comes to providing care to patients. Within the three types of organization types, the financial need is collected and reported differently due to the organization common goal, financial environment and community outlook. In my research, to give a clearer picture I have chosen an organization that represents each health care sectors environment and they are: Health …show more content…
While doing my research I have come across how ACS has used the fund that has been donated throughout the year to do research. “In the nonprofit world, financial efficiency ratios because of their simplicity, ease of calculation and presentation, and apparent comparability between nonprofits have been the default metric. However, many nonprofit experts and watchdog groups have come to realize that simple formula comparisons do not reflect the complexity of the sector and, while useful, do not provide a meaningful analysis of overall effectiveness” (American Cancer Society Stewardship …show more content…
“The Financial Management and Accounting Systems Office establishes and implements policies and procedures governing financial management and accounting, internal controls management, and analysis of financial information and activities in support of financial statement reporting” (www.va.gov/ofcadmin/docs). The Resource Management Office provides VHA budget formulation, allocation, execution and analysis, and health care workload and cost analyses. The Financial Assistance Office is responsible to overlook audits and overlook special program fiscal performance, compliance with fiscal policy and Federal accounting rules, and clarifies applied finance guidelines. The Managerial Cost Accounting Office (MCAO) holds and provides information services from the VA’s managerial cost accounting system, the Decision Support System (DSS), in full compliance with public laws (www.va.gov/ofcadmin/docs). DSS is an activity based cost system that gives the full cost of VA products and services throughout the process of financial and workload feeds from several VA