Summative Assessment: Financial Information Table
The Chief Financial Officer (CFO) of the hospital has asked for assistance. The CFO wants to create a document for new employees that explains financial information and the way it is used to evaluate a health care organization. You are being asked to explain important concepts regarding the use of financial information.
Using the information found in Ch. 7, “Fraud, Internal Control, and Cash,” and Ch. 9, “Reporting and Analyzing Long-Lived Assets,” of Accounting, respond to each question in the “Required Elements” column in the Financial Information Table below.
Thoroughly answer each question in your own words and provide a 100-word response for each question. This means the total word count for this assignment is 1,000 words.
Cite at least 3 scholarly sources to support the answers to the questions.
Format your citations and references according to APA guidelines.
Financial Information Table
The Chief Financial Officer (CFO) of the hospital has asked for assistance. The CFO wants to create a document for new employees that explains financial information and the way it is used to evaluate a health care organization. You are being asked to explain important concepts regarding the use of financial information.
Using the information found in Ch. 7, “Fraud, Internal Control, and Cash,” and Ch. 9, “Reporting and Analyzing Long-Lived Assets,” of Accounting, respond to each question in the “Requireed Elements” column in the Financial Information Table below.
Thoroughly answer each question in your own words and provide a 100-word response for each question. This means the total word count for this assignment is 1,000 words.
Cite at least 3 scholarly sources to support the answers to the questions.
Format your citations and references according to APA guidelines.
Financial Information Table
| Required Elements | Response |
| How is financial information used to operate a health care organization on a day-to-day basis? | Insert your response here. |
| What are the 3 factors of computing depreciation? Provide 1 example for each. | Insert your response here. |
| What are 2 different types of depreciation? | Insert your response here. |
| What is sustainable income? Provide 1 example. | Insert your response here. |
| What is meant by discontinued operations? Provide 1 example. | Insert your response here. |
| What is meant by comprehensive income? Provide 1 example. | Insert your response here. |
| What are alternative accounting methods? Provide 1 example. | Insert your response here. |
| What is pro forma income? What is its purpose? | Insert your response here. |
| What are the 3 basic tools for financial statement analysis? Explain each. | Insert your response here. |
| Standard-setting environments are discussed in Ch. 2, “A Further Look at Financial Statements,” of Accounting. What is a standard-setting environment? Identify 1 example and describe how it functions. | Insert your response here. |
References: Insert your references below this section.
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