davenport hcmg750 full course latest 2016 feb
DQ1
Examine the different roles that a manager plays in the financial success of a business.
- Include in your response an explanation of the different forms of business organizations and provide a benefit of each type for maximizing profits.
- Include in your response an explanation of the different types of financial statements. Define in detail
- Explain the relationship of managerial finance to economics and accounting
- Discuss the relationship between stockholders/shareholders, bondholders, and the financial manager.
DQ2
What is the common accounting equation that reflects the relationship among liabilities, owner’s equity, and assets? Define each
Exercise:
Place each one in the proper order so that the equation from above equals: (show your work)
Cash | 89,000 | |
Accounts Payable | 25,000 | |
Buildings | 1,000,000 | |
Mortgage Payable | 250,000 | |
Retained Earnings | 837,000 | |
Payroll Taxes due | 9,000 | |
Patient receivables | 55,000 | |
Accounts payable: Supplies | 23,000 |
What is the difference between an expense and a cost?
Minimum of 450-500 words in length and properly sourced.
DQ1
Assume the following: Payment #1 totals $1,600 ($1,200 principal and $400 interest expense); Payment #2 totals $1,600 ($1,300 principal and $300 interest expense); and the remaining principal balance before these two payments is $50,000.
If the amortization schedule’s “Remaining Principal Balance” column prior to these payments amounts to $50,000, what is the balance in the column after these payments?
DQ2
Define and discuss cash equivalents and provide three examples.
week 2
Readings:
Power Points for Chapters 5-8
Read Lectures – found in Course Materials Week 2.
Activities:
Topics:
The topics are posted each week to ignite discussion with one another (and, of course, to earn topic and participation points).
Please post responses in the Topics under the appropriate thread. Please copy and paste the question you are addressing so that all readers can stay focused on what is being addressed.
DQ1 W2 Due Day 3
1. Define direct costs.
2. Define Indirect costs
3. Why are direct and indirect costs important to management?
4. Would you describe your current job today as a direct cost or a indirect cost? Why?
5. Categorize the following as direct or indirect:
a. Managed care marketing expense
b. Real estate taxes
c. Liability insurance
d. Clinic telephone expense
e. Utilities (for the entire facility)
f. Emergency room medical supplies
DQ2 W2 Due Day 5
What is break-even analysis and why is it an important element in the discussion of operating leverage? In your response include a discussion on the break-even point.
Compare fixed and variable costs and explain the significance of the difference in making financial decisions. What does contribution margin (CM) mean?
Peer response W2 Due Day 6
Every week I expect you to post a response to one of your peer’s posts. The post should be written in APA format, include three well-constructed paragraphs, and include at least 1 reference either peer-reviewed or our text.
Assignments:
Your paper must be submitted as a Microsoft Word .doc document. If you are using Microsoft 2007 software you must save (“save as”) your work in an earlier version of Word to ensure you turn in the .doc format. Try this early to make sure you are able to save your work as a .doc file. Any Questions? Use the “Help Desk Forum
week 7
WEEK 7
DQ1
Find a recent article on EHRs or ICD-10 implementation and briefly describe the article to the class.
The article must be attached to your submission for points and must be written during 2012-2015. Don’t forget to define EHRs orICD-10 in your responses.
Case Study #1 – Break Even Analysis
Scenario: (hypothetical)
Break-even exercise
Break-Even Analysis or Cost Volume Profit Analysis (CVP)
The California Medical Hospital is a full service hospital in Burbank, CA. Kathy Potts, the Chief Surgeon and Regina Johnson, the Hospital Administrator, have been working on a project to bring a new product to their hospital, knee replacements, to expand the services provided in hopes of bringing in additional revenue.
After much analysis and market studies the two are ready to present their findings to the board. You are the Finance Director who has put the information together.
They have decided that a new knee replacement will cost $17,000. The supplies used will cost the hospital $9,500 and the selling expenses paid amount to $3,000 per knee. The wing they will use will rent for $15,500 per month and the surgeon will receive a fixed salary of $25,000 per month. (Show your work on all problems)
1. Determine the number of knee replacements (in units) that particular wing must perform each month to break even. (Break-Even Point or BEP). In other words how many knee replacements must the surgeon perform each month to break-even?
2. Determine the number of knee replacements that particular wing must perform in order to generate a profit of $100,000 per month.
3. Assume that the surgeon can now open a clinic on his own with the following costs:
Variable costs = $9,500 per knee
One additional employee at a cost of $1,000 per month
Everything else remains the same from above
Determine the number of knee replacements to break-even.
4. Determine the number of knee replacements needed to generate a profit of $100,000 per month
What scenario would you recommend and why?
5. Please graph scenario #1 only. You may use excel or draw and attach the graph. I encourage you to try MS Excel for the experience. Label the X and Y axis. Plot the break-even point and show the fixed cost line. ( I only want to see three lines on the graph and the rest should be labelled)
6. Define break even analysis and its importance in the health care industry
7. Define variable costs
8. Define contribution margin
9. Define fixed costs
10. Compare and contrast a variance analysis and a sensitivity analysis.
Your paper must be submitted as a Microsoft Word .doc document.If you are using Microsoft 2007 software you must save (“save as”) your work in an earlier version of Word to ensure you turn in the .doc format. Try this early to make sure you are able to save your work as a .doc file. Any Questions? Use the “Help Desk Forum”.
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