Financial Accounting Concepts

This course defines strategic and operational planning, lists different types of budgets, and lists the steps of the budgeting procedure. In addition, this module presents an example of cash receipts, and introduces favorable and unfavorable cost center performance.

Estimated course completion time: 1 hour

Credit Contact Hours:1.0

Tag(s) (CL) - Experienced Professional, (CL) - Student, (CL) - Early Careerist, Accounting and Financial Reporting, (DM) - Self Study, (ST) - Costing and Managerial Accounting, (ST) - Quality and Cost Reporting, (PL) - Intermediate, (RF) - Accounting, (RF) - Financial Planning, (AD) - Hospitals and Other Providers, (AD) - Business Partners, (AD) - Physicians and Other Practitioners

Description

Define strategic planning and operational planning
Recognize the four different types of budgets and procedures
Define and give an example of a line-item budget, program budget, and zero-based budget
Define the term "cash budget" and explain what budgets are required as input before it can be prepared
Recognize how a healthcare organization develops a yearly cash receipts forecast
Define and give several examples of cost centers in a healthcare environment