Learning Team Assignment HealthCare Case Study: Financial Statements
â?¢ Resource: Patton-Fuller Community Hospitalfinancial statements in the Virtual Organization. Grading criteria located in Week Two on your student website.
â?¢ Write a summary that addresses the following:
o Annual report, including the Patton-Fuller financial statements
ï?§ How did the audited and unaudited financial statements differ?
ï?§ Are the financial ratios for the hospital improving? Explain. Priscilla
o Relationship between revenue sources and expenses on Patton-Fullerâ??s financial performance Priscilla
ï?§ What is the effect of revenue sources on financial reporting at the hospital?
ï?§ How are the hospitalâ??s revenues and expenses grouped for planning and control?
This is an original work and has not been previously published or shared with any other source. This work is to be treated as a guideline to assist you with this assignment. At no time is it intended to be a final submission work and I discourage you from using it as such. Points made and topics discussed in this work should be researched further and validated by the student prior to utilizing it in their own work which will be complied for final submission to their schools. I have attached this response in a Word document since table data does not display on this upload site. This should assist you with you overall editing process.
1. Are the financial ratios for the hospital improving?
Utilizing the hospital financial records from 2008 and 2008, an evaluation of some of the financial ratios can be made to analyze the current financial trend of PFCH. For the purpose of accuracy, we will use the audited reports provided by Albert, Brooks, Borze & Stoops, LLC, Certified Public Accountants. The following financial ratios are performed:
A. Liquidity Ratio: this ratio will provide information regarding the hospital’s ability to meet its short-term financial obligations. Creditors extending short-term credit to the facility are interested in this particular ratio and prefer higher ratios to reduce their risk. Shareholders, on the other hand, would prefer this ratio to be low as an indicator that more of the …
A model case study of Patton-Fuller Community Hospital is guided.