Thursday, October 10, 2013

Health Care Case Study: Financial Statements

Introduction: In the summary you will read much or less Patton-Fuller Community hospital (PFCH) and how the hospital uses audited and unaudited fiscal statements, reviews their pecuniary ratios, and the human relationships among expenses and gross. Other argonas of discussion are the different effects of receipts sources on the financial reporting and how the Patton- Fuller companionship Hospitals statement deals with the revenue and thither expenses grouping. Audited Versus Unaudited financial narratives In the case of Patton-Fuller Community Hospital (PFCH), there are some differences that were set up in the audited reports (2). For example, in the Statement of Revenue and Expense, there was an additional provision provided for doubtful accounts which brought the straighten out income from the black to the blushing(a) (2). The audited and unaudited Balance Sheets also differ due to an valuation account found in the audit (2). Overall, the two reports wer e relatively fill up and request that there are good controls in daub by the organizations over finances and financial reporting. The Financial Ratios The ratios did non better overall when comparing the unaudited data to the audited data. For example the twenty-four hour periods cash on authorize (DCOH) ratio showed 19.68 geezerhood on the unaudited data whereas compared to the audited data it was 18.
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26 days. This is not an return given the accompaniment that the DCOH decreased by one effective day. This would not be good information for the management or financial teams as the cash flow is decreasing by one d ay. In addition the quick ratio dropped a fe! w points masking that the organization is becoming less able to pay for the debt it is incurring. kin between Revenue Sources and Expenses The revenue sources relationship with the expenses go hand in hand. The net patient revenue extend discussed in the report by the chief financial officer showed with the cast up in revenue there was an increase in expenses. The determination is to keep expenses less then the...If you hope to get a full essay, order it on our website: OrderCustomPaper.com

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