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HCS 380 All Discussions

The Latest Version A+ Study Guide

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HCS 380 Wk 1 Discussion Board

Answer the following the question on financial statements based off the reading of Chapters 1 and 2 in our textbook. Your initial response is due by Thursday (no exceptions). All participation responses to your classmates or myself are due by Monday. If you post a response to one of my questions, it does count toward the participation requirements.

Write a 175- to 265-word response to the following:

Choose one of the four financial statements discussed in Chapter 1. Discuss the following three items in your response:

What do you think is the major purpose of financial statements?

Explain what type of information can be derived from the financial statement you chose.

What is the importance of accounting in a health care manager’s role? How will you use it in your health care career?

APA Formatting: Use citations where appropriate and list references. All citations and references, if used, must be in APA format. Only 15% of the content can be source material. If you write in your own words, only the reference is required.

Be sure to answer the question fully and substantively in your own words. I do not want to see information from the internet or verbatim from the textbook. Please refer to the announcement section of the course for information on what constitutes a substantive response.

Participation Responses: Due by Monday (no exceptions)

Read your classmates’ initial posts as well as mine. Respond with two participation posts. You can respond to two classmates or one of mine and one classmate. Your responses should be at least 85 words. Please be constructive and professional with your thoughts, further knowledge, recommendations or experience.

HCS 380 Wk 2 Discussion Board

Week 2 Initial Discussion response: Due Thursday (no exceptions)

Make sure to address item 1 & 2 in your Initial response, The initial response is due by Thursday, no exception. The participation responses are due by Monday.

Write a 175- to 265-word response to the following:

You are assigned to discuss either Cash Basis or Accrual Accounting based on your last name (see below). Explain the type of accounting (cash basis or accrual basis) you are assigned and include an example of a transaction.

Everyone – Each department is responsible for inventory control, whether it is office supplies,health care supplies, cafeteria food, gift shop items, etc. With that in mind, discuss the following.

Explain LIFO and FIFO.

At your workplace or an organization with which you are familiar, what type of inventory method is utilized, last-in, first-out (LIFO) or first-in, first-out(FIFO) ?

What inventory weaknesses have you encountered? Explain your answers

If you have not encountered any inventory issues, what type of organization do you think would use LIFO? Which method would a physician practice use and why? Explain your answers.

LAST NAME BEGINS WITH THE LETTER

A, C, G, E, I, K, M, O, R, T, V, X, Y – You will discuss Cash Basis Accounting

B, D, F, H, J, L, N, P, Q, S, U W, Z – You will discuss Accrual Basis Accounting

Participation Responses: Due by Monday (no exceptions)

HCS 380 Wk 3 Discussion Board

Answer the following the question on financial ratios based off reading Chapter 13 in our textbook. Your initial response is due by Thursday (no exceptions). All participation responses to your classmates or myself are due by Monday.

Write a 175- to 265-word response to the following:

Background:

After reading the textbook on ratios, and doing a little research, you should have a basic knowledge of how a ratio is used both personally and professionally. If you have ever applied for a credit card or a loan, you have had your credit profile reviewed and you had to tell the organization how much money you made. They then used this information to perform a ratio to determine if you qualify for the loan. The lender wants to know if you can afford the loan.

This same principal is applied to businesses. The financial information can be obtained from a health care organization by reviewing their financial statements, which can tell a lender if the organization is making enough money to take on the debt associated with a loan.

Directions:

With that said, financial institutions and investors utilize ratios to determine the financial viability of a business. Discuss one financial ratio mentioned in the textbook and explain why a financial institution or investor would use the ratio you chose. Include what the ratio results would tell you about the business.

In addition, give an example of how you would you use one of the financial ratios in your personal finances.

Participation Responses: Due by Monday (no exceptions)

HCS 380 Wk 4 Discussion Board

Answer the following the question on internal control measures and fraud based off reading Chapter 7 in our textbook. Your initial response is due by Thursday.

Write a 175- to 265-word response to the following:

Background: Accounting scandals and fraud, both in the United States and internationally, have re-ignited the debate over the current laws, regulation and accounting principles. The relative merits of GAAP, which takes a “rules-based” approach to accounting, versus IFRS, which takes a “principles-based” approach have been under scrutiny. In the last couple of years, the FASB announced that it intends to introduce more principles-based standards to improve general accounting principles and practices.

Organizations have internal control measures to detect fraud. In additions, organizations are subjected to required reporting of financial information to external entities. With that in mind, answer the following items in your initial discussion response:

Define fraud and discuss the three factors identified in our textbook that contribute to fraudulent activity.

What are some strategies in health care to prevent financial fraud? Provide some details.

Identify an example of an organization that has committed fraud. What happened and what were the legal ramifications?

Participation Responses: Due by Monday (no exceptions)

HCS 380 Wk 5 Discussion Board

Answer the following the question on cash assets based off reading Chapter 13 in our textbook. Your initial response is due by Thursday. All participation responses to your classmates or myself are due by Monday.

Write a 175- to 265-word response to the following:

Businesses often use their profits (cash assets) to expand their portfolio such as investments, stock, bonds, capital expenditures, which can be to increase revenue streams as well as for protection purposes. According to our textbook, there are several reasons why a business must practice sound financial management.

With that said, answer the following questions:

Choose one investment option for a healthcare organization (i.e., buying a building, surgery center, home health agency, or physician practice. Possibly expanding services, or purchasing capital expenditures (MRI, PET scan, or other expensive equipment). Possibly investing in bonds and stocks, investing in other healthcare organizations or mergers).

Discuss what might be required to invest in that particular option

Give the rationale of why you think the healthcare organization would benefit from using their cash assets to invest in the option you chose.

Name one health care financial or operational decision that is based on the organization’s financial statements? Which financial statement would be best for making that decision?

Participation Responses: Due by Monday (no exceptions)