Gathering Financial Information and Analysis, Financial Accounting

Many hospitals are classified as not-for-profit (NFP). The presentation of for-profit (FP) financial statements differs in several respects from NFP accounting. You will probably work for some NFP hospitals during your career and, therefore, you should understand some of the basic elements of NFP statements. In this assignment you will gather data for an FP and an NFP organization, identify the similarities and differences in data presentation, and report on those differences.

Select one FP and one NFP hospital. You must get your facilitator’s approval for both hospitals. Research the hospitals. Then, download and fill in the template with financial information for the FP hospital, the NFP hospital, and the SMH. You will use this information in subsequent sessions.

It is imperative that you ensure the quality of the data you collect. In the latter part of this assignment, you will carry out a quality control check on the data collected by other students.

Instructions for hospital selection and data gathering:

Use the following Web sites to gather financial data for publicly traded healthcare organizations:

MSN money (homepage). http://moneycentral.msn.com/investor/home.aspx
Investment tools. (n.d.). The Wall Street Journal, SmartMoney. Retrieved March 10, 2009, from http://www.smartmoney.com/tools/
You can obtain financial data for NFP facilities from the following site:

GuideStar http://www.guidestar.org/
The GuideStar Web site also presents financial data in the format of the IRS Form 990. You should become familiar with this form and learn where to find the income statement, balance sheet, and statement of cash flow.

Besides data for individual companies, the sites have benchmark data for various financial ratios for the hospital industry group. After you have identified the two organizations you will use, you can go directly to the organizations’ Web site and use the investor’s relation tab to acquire the latest financial data.

Your chosen NFP hospitals should have patient revenue between $700 and $1,500 million. You can refer to the annotated IRS Form 990 in the Doc Sharing area for assistance and explanatory notes.

You can visit the Internal Revenue Service (IRS) Web site and read instructions for Form 990 and Form 990-EZ. You can also refer to the Form 990 that is available at the Web site
Posted Date: 3/7/2013 9:35:09 AM | Location : United States







Related Discussions:- Gathering Financial Information and Analysis, Assignment Help, Ask Question on Gathering Financial Information and Analysis, Get Answer, Expert's Help, Gathering Financial Information and Analysis Discussions

Write discussion on Gathering Financial Information and Analysis
Your posts are moderated
Related Questions
Part I: Wal-Mart Stores Inc.'s income statement and balance sheet are attached. Gather relevant information from the financial statements to calculate the financial ratios, and co

Question 1 What is accounting and book keeping? Explain the objectives of accounting? Question 2 Explain GAAP and write down the relationship between accounting principles, a

Problem 1 (28 marks) Pre-Contribution Balance Sheets and Fair Values June 30, 20X9 (in thousands of $) Swag Co. Perk Ltd. Pre- Contribution Fair Value Pre- Contributi

Q. Given the following data, what is net income?  (Note: Not all items shown below will be included in income.) Cost of Goods Sold 8 Accoun

McM Cog is a supplier of industrial parts.  Most orders are received at a call center. The call center currently has 10 phone lines total, i.e., a maximum of 10 callers may be in t

Derive the Optimal Value of Loss Function A speculative attack and the consequent currency crisis may not be due to excessive money-growth or other misaligned fundamentals, bu

Accounting policies Accounting policies are the specific assumptions, bases, principles and practices that are adopted by firms in preparing financial statements. The standard

SYSTEM ONE-THE HEAD OFFICE MAINTAINS ALL THE ACCOUNTS This system is suitable for an enterprise that has small branches (possibly in another area of the town or city where the

Income Statement Preparation The following information is taken from the records of Wadley's Car Wash for the year ended December 31, 2012. Income taxes . . . . . . . . . . . . .

EVERLIGHT COMPANY LIMITED Comparative Balance Sheet December 31, Year 1 and Year 2     Year 1       Year2