Describe the three basic questions that must be addressed

Assignment Help Other Subject

Reference no: EM133922587

Question: Cost information is an important part of the financial system of a healthcare organization. As Cleverley and Cleverley (2018) explain,

Cost information is produced through an entity's cost accounting system. In most situations, cost information is shaped by the financial accounting system and the generally accepted principles of financial accounting on which financial accounting is based. However, cost information must be flexible, because it usually provides information for identifiable and specific decision-making groups, such as budgetary cost variance reports to department managers, cost reports to third-party payers, and forecasted project cost reports to planning agencies. (p. 336)

Additionally, various concepts of cost need to be considered for different decision-making purposes.

In your initial post,

Discuss the four major categories of cost as they relate to
traceability to the object being costed.
behavior of cost to output or activity. Get online assignment help-AI & plagiarism-free-now!
management responsibility for control.
future cost versus historical cost.
Describe the three basic questions that must be addressed before effective cost accounting systems for healthcare organizations can become a reality.

Define the two possible theories that may be used to detect out-of-control costs.

Reference no: EM133922587

Questions Cloud

Explain the rationale for prescribed pharmacologic therapy : Ms. George is a 32-year-old computer programmer. Explain the rationale for the prescribed pharmacologic therapy.

Discuss what the bullwhip effect is : Discuss what the bullwhip effect is and identify solutions to avoid the bullwhip effect - Contributions must display original thinking and good knowledge

Describe the actions you can take now and in the future : Explain why each of these three competencies are essential skills. Describe the actions you can take now and in the future to develop your leadership role.

What are your feelings toward someone with anorexia : What are your feelings toward someone with anorexia?

Describe the three basic questions that must be addressed : Describe the three basic questions that must be addressed before effective cost accounting systems for healthcare organizations can become a reality

Discuss the importance of interoperability : Discuss the importance of interoperability between EHRs and other disparate systems and the impact on improving quality and access to care.

What are the factors that influence our perception : What are the factors that influence our perception? What is the link between perception and decision making? How do individual differences and organizational

Prescribed antagonistic medication : A client has been prescribed an antagonistic medication. The client would like to know more about what this means.

Nurse in providing quality therapeutic care : Priority nursing interventions for each essential feature that will assist the nurse in providing quality therapeutic care.

User Account

All Pages