What Does a Healthcare Manager Need to Know

Question 1

How System works in Healthcare (what makes a healthcare financial system work)

Answer 1

1. The original records: provide evidence that some event has occurred
2. The information system: gathers this evidence
3. The accounting system: records the evidence
4. The reporting system: produces a report of the effect

Question 2

Basic System Elements

Answer 2

• chart of account (MAP)
• books and records
• reports

Question 3

Communicating Financial Information to Others

Answer 3

1. Create a report as your method of communication
2. Use accepted terminology
3. Use the standard format accepted in the accounting profession
4. Begin with an executive summary
5. Organize the body of the report in a logical flow
6. Place extensive detail into an appendix

Question 4

chart of account (MAP)

Answer 4

outlines the elements of the company and maps out account titles. It uses numeric coding to compile financial data in a uniform manner that the user can decode.

Question 5

books and records

Answer 5

captures when an individual transaction occurs once a process begins.
All transaction records in a subsidiary journal are to be gathered, summarized, and entered in the general ledger to be reviewed and adjusted then reflected in the trial balance at the end of the process by creating the statement that reflects all transactions that occurred in a specific period.

Question 6

reports

Answer 6

it is the final product of the process that commences with an original transaction