Note: The Instructor will post the document for this Assignment by Day 1 of Week 7.
All organizations, including those in the health care industry, need to make money to be profitable and survive. Financial statements, such as balance sheets, profit and loss statements, and cash flow statements summarize an organizations profitability and overall financial status. For this Assignment, you practice developing three key financial statements using data from a medical center.
To prepare for this Assignment:
Review the Week 7 Assignment document provided to you by the Instructor. Examine the data from the medical center described in the document. Reflect on how you will use this data to develop a balance sheet, profit and loss statement (statement of operations), and cash flow statement (statement of changes in net assets). Refer to the course text for additional guidance.
Note: This Assignment will be graded using this rubric: Document: Week 7 Assignment Rubric (Word document)
Complete a balance sheet, profit and loss statement (statement of operations), and cash flow statement (statement of changes in net assets) using the Week 7 Financial Statement Excel Template.
Zelman, W. N., McCue, M. J., Glick, N. D., & Thomas, M. S. (2014). Financial management of health care organizations: An introduction to fundamental tools, concepts and applications (4th ed.). San Francisco, CA: Jossey-Bass.
Chapter 1, The Context of Health Care Financial Management (Review pp. 123)
Chapter 2, Health Care Financial Statements (pp. 2773)
Document: Week 7 Financial Statement Excel Template (Excel spreadsheet)
Note: You will use this document to complete this weeks Assignment
Goodwill Community Foundation. (2015a). Excel 2003 Online tutorial. Retrieved from http://www.gcflearnfree.org/excel2003
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Microsoft, Inc. (2015c). Excel 2013 videos and tutorials. Retrieved from https://support.office.com/en-us/article/Excel-2013-training-courses-videos-and-tutorials-aaae974d-3f47-41d9-895e-97a71c2e8a4a?ui=en-US&rs=en-US&ad=US
Excel Easy. (2016, March 8). Financial Functions. Retrieved from http://www.excel-easy.com/functions/financial-functions.html
Excel Finance Class 01: Intro To Excel 2007 & 2010 Video file. Retrieved March 8, 2016, from https://www.youtube.com/watch?v=qeWOy4Q-1n8&noredirect=1
Provides a tutorial of Excel, basic math functions, and about how to perform calculations. There are videos in a series and the link will take you to the first in the series which is \”The Basics\”.
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