HCS 219 Week 1 Financial Concepts Worksheet

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HCS 219 Week 1 Financial Concepts Worksheet
Resource: Financial Concepts Worksheet

You work for a financial consulting firm, and one of your clients, Lauren Johnson, is exploring the possibility of opening a health care facility. She is unsure of the financial aspects associated with health care, though. You must provide her with relevant information and answer any questions she may have.

Lauren has sent you a document that contains ten financial concepts. She would like you to explain each in your own words, and to also include a brief explanation of how each is used in health care.

Complete the Financial Concepts Worksheet in 700 to 1,050 words.

Explain each financial concept in your own words.

Include a brief explanation of how each concept is used in health care.

Click the Assignment Files tab to submit your assignment.

Financial Concepts Worksheet

In the table below, explain each financial concept in your own words. Also include a brief explanation of how each is used in health care.

Financial Concept
Explanation
How it is Used in Health Care
Quarterly Reporting
 
 
Revenue
 
 
Clinical view
 
 
Planning
 
 
Controlling
 
 
Process view
 
 
Chart of accounts
 
 
Expenses
 
 
General ledger
 
 
Nonprofit Organization
 
 
 
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