Discussion of Finance Health Care Essay - 1100 Words

Discussion of Finance Health Care (Essay Sample) Content: Studentà ¢Ã¢â€š ¬s Name:Instructorà ¢Ã¢â€š ¬s Name:Course Code Name:Date of Submission:Topic 1 - Exercise 1.xlsxTopic 7 Exercise 1 à ¢Ã¢â€š ¬ Matrix Accounts Asset / Liability/Equity Current / Non-current Cheque Account - at bank (in funds) Asset Current Term Deposit - 12months to maturity Asset Non-current insurance - prepaid for 6 months Asset Current Loan from bank to be repaid inside 6 months Liability Current Amount due from Medicare Asset Current Sale of shares to new Doctor Equity Non-current Employee annual leave entitlement Liabilities Current Amount due to surgical glove supplier Liability Current New computer Asset Non-current Revaluation of building Equity Current Question 1B, Exercise 2 1 Nature of organization: Service provider 2 Assets and liabilities Asset Liabilities 1 Building 2 years loan 2 Furniture Accrued insurance 3 Computers Payables 4 Vehicles Accrued salary 5 x-ray machine Current Tax 3 Equity; * Revaluation reserve * Retained profit * Ordinary share capital * Share premium capitalQuestion 1CTopic 1 - Exercise 3.xlsxTopic 7 Exercise 3 à ¢Ã¢â€š ¬ Matrix Accounts Statement Prepayments Statement of financial position, profit and loss Cash at Bank Statement of financial position and statement of cash flow Patient Fee Income Profit and loss Interest Received Profit and loss Proceeds from Borrowings Statement of financial position and statement of cash flow Trade Creditors Statement of financial position and statement of cash flow(increase or decrease) Provision for Annual Leave Statement of financial position Asset Revaluation Reserve Statement of financial position Interest Paid Profit and loss and statement of cash flow Wages and Salaries Expense Profit and loss Purchases of Plant and Equipment Statement of financial position and statement of cash flow Profit or Loss on Sale of Assets Profit and loss and statement of cash flow Proceeds from Borrowing Statement of financial position and statement of cash flow Rent Expense Dividend Paid Profit and loss Question 2The system used in our organization is very sophisticated in a way that I only record few variables and the system updates itself automatically. Records that needs adjustments are ledgers and patient receipt i.e. cash book ledger, wages and salaries, equipment, creditors and patient receipt, service cost and bed occupation. The entries that are automatically generated by the system include income statement, statement of financial position, cash flow, budget, financial indicators. From automatically formulated statements, I am supposed to make notes monthly about the monthly statements, which is approved by the chief financial officer of the hospital. This conform international financial regulatory framework (Nowicki and Berger, 2006).Question 3, Case StudyCurrent ratio =current asset current liability= 875,720 694,504 =985,084 562,962 =1,003,603 433,519=1.26=1.75=2.32Quick ratio = current asset-stock current liabilityOr= Cash at Bank + Marketable Securities + Net Receivables Current Liabilities - Bank Overdraft= 375,534+476,986 694,504-127,875 = 563,730+387,654 562,962-76,543 = 607,859+ 347,944347,944=1.50=1.96=2.75Debtors Turnover = credit ...