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:

1. 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.
2. 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.
3. Explain LIFO and FIFO.
4. 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) ?
5. What inventory weaknesses have you encountered? Explain your answers
6. 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

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.