NLilly-Assignment-Unit1 - Running Head UNIT 1 ASSIGNMENT 1...

Info icon This preview shows pages 1–3. Sign up to view the full content.

Running Head: UNIT 1 ASSIGNMENT 1 Unit 1 Assignment Natasha Lilly HS240: Medical Office Accounting Kaplan University
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

UNIT 1 ASSIGNMENT 2 Unit 1 Assignment Part 1 1.) Accounting Equation: A relationship between assets, liabilities, and net assets that provides a framework for all of financial accounting. 2.) Asset: Anything that has economic value that can help provide healthcare to an organizations patient’s. 3.) Liability: Obligations to outside creditors by an organization. 4.) Net Assets: Residual amount leftover, when liabilities are subtracted from an organizations assets. 5.) Going Concern: Financial statements based on assumptions that an organization will remain in business in the foreseeable future, however are unlikely to be used in a case. 6.) Conservatism: Sufficient consideration given to the various risks that an organization faces. 7.) Matching: Expense records should be matched to the same accounting period that they generated revenue towards.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern