Gathering Financial Information and Analysis, Financial Accounting

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

GuideStar https://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

Related Discussions:- Gathering Financial Information and Analysis

Financial statement with reference to Indian companies, discuss the content...

discuss the content of financial statement with reference to Indian companies?

Financial accounting regulation, Carminho Building Products Ltd (an Austral...

Carminho Building Products Ltd (an Australian company) is a client of Rodrigues Accounting (RA). Carminho Building Products Ltd (CBP) is involved in the development, manufacture a

Atriculation of Statements, What information goes on each sheet of an Artic...

What information goes on each sheet of an Articulationof statements, i.e. the Data Entry sheet, the Trial Balance sheet, the Single step Income statement, multi-step income stateme

Merchandising, A company that uses the perpetual inventory system purchased...

A company that uses the perpetual inventory system purchased $8,500 worth of inventory on September 25. Terms of the purchase were 2/10, n/30. The invoice was paid in full on Octob

Market segmentation analysis, Task This task is designed to further dev...

Task This task is designed to further develop your critical analysis and research skills related to the tourism or hospitality enterprise you selected for Assignment 1. You are

Working Capital movement, If revenue=£92 million, purchase costs=£48 millio...

If revenue=£92 million, purchase costs=£48 million and operating costs=£41 million, and if working capital days are 39 for inventory and 110 for accounts payable, what is the worki

What are the ethical issues involved, Charlie Brown, controller for the Kel...

Charlie Brown, controller for the Kelly Corporation, is preparing the company's income statement at year-end. He notes that the company lost a considerable sum on the sale of some

how can a flexible budget help managers control costs, 1.  How can a flexi...

1.  How can a flexible budget help managers control costs? A flexible budget can help managers control costs by showing favorable and unfavorable variances within the planning o

Ifrs guidelines, IFRS guidelines IFRSs Gives the guideline on the conte...

IFRS guidelines IFRSs Gives the guideline on the content and the accounting statements of certain events and transactions in the financial statements. The following IFRSs are r

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd