The Role of Financial Statements in Health care.docx - Running head THE ROLE OF FINANCIAL STATEMENTS IN HEALTH CARE The Role of Financial Statements in

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Running head: THE ROLE OF FINANCIAL STATEMENTS IN HEALTH CARE 1 The Role of Financial Statements in Health care Student Name Institution Affiliation
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2 THE ROLE OF FINANCIAL STATEMENTS IN HEALTH CARE The Role of Financial Statements in Health care Importance of Balance Sheet in Healthcare Organizations A balance sheet is one of the main financial reports that are essential in health care. It usually depicts that financial situation of a health care facility for a specific period of time. A balance sheet precisely consist of three important headings namely Assets, Liabilities, and Owner’s Equity (Kane & Magnus, 2001). The section of assets usually shows the items that the health care facility owns that have a tangible value. The section is divided into current and non- current assets. This is the section that contains all items that can be converted into cash (Ross, 2015). The manager of a health care facility is able to understand the facility cash, inventories and net receivables through this section.
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  • Fall '17
  • asad khan

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