Discuss the Current Financial Problems of the Hospitalphase 2 Individual Project2-3 pagesDetails:Weekly tasks or assignments (Individual or Group Projects) will be due by Monday, and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.The CEO of a 400-bed hospital has scheduled a board of directors meeting to discuss the current financial situation of the hospital and steps that need to be done to correct some current problems. The CFO needs to send each board member an explanation of the financial statements that they will be discussing. You are the Director of Finance and he has asked you to put together a memo, explaining each statement. Do the following:Provide a copy of the most common four statements used within your hospital and what information is available in each.Make sure you explain each main components/section of each statement.NOTE: You can develop your own set of statements or research and pull healthcare financial statements online.Apa format cited and referenced appropriately ……………..Answer Preview…………..To: Board of directorsFrom: Director of finance (Chief Financing Officer)Date: September 1, 2014Subject: Health care financial statementsFinancial statements used in hospitals Financial statements are a representation of the financial status of the hospital. They include the balance sheet, the income statement, the statement of retained earnings and the statement of cash flows. Each of the financial statements usually shows the different activities that occur in the hospital fraternity. They can be prepared at any time of the year (Peterson & Fabozzi, 2012). The balance sheet reports the financial position of the hospital. It is therefore used to show the amounts of assets, liabilities and the equity of the stockholders. The assets that are represented can either be classified as current….APA772 words as low as10.00 – Added to cart
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