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Recognizing and Recording Financial Operations
- Classify balance sheet and income statement Items.
- Compute contractual allowances.
- Identify sources of health care revenue.
- Describe the difference between direct and indirect costs.
- Differentiate between fixed, variable, and semi-variable costs.
- Describe classification of costs.
Management’s Responsibility for Staffing
- Describe the difference between productive and nonproductive time.
- Calculate full-time equivalent (FTE) to annualize staff positions.
- Explain how costs are tied to staffing.
Inventory and Depreciation Concepts
- Discuss the interrelationship between inventory and cost of goods sold.
- Differentiate between LIFO and FIFO inventory methods.
- Define methods of computing book depreciation.
Time Value of Money
- Define time value of money.
- Identify the use of comparative data.
- Calculate financial ratios.
Analysis of Financial Statements
- Describe the components of financial statements.
- Identify the basic concept of cash flows.
- Explain the uses and limitations of financial statements.
- Describe the importance and use of budgeting.
Financial and Operating Ratios
- Calculate operating ratios.
- Define liquid, solvency, and profitability ratio.
Financial Implications of Technology
- Explain the importance of implementing technology in health care.
- Identify capital budget expenditures as they relate to technology.
- Identify costs and incentives of technology.
Introduction to Health Care Finance
- Define basic finance concepts.
- Compare the two types of accounting.
- Identify organizational financial reports.
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