About This Chapter
Using Balance Sheets in Healthcare Finance - Chapter Summary
Our mobile-friendly chapter on using balance sheets in healthcare finance is a quick and simple way to learn more about this topic or refresh your existing knowledge. Work through these video lessons at your own pace to study topics such as balance sheets, owner's equity and the statement of cash flows. Feel free to take your time and go back as often as needed to review any information that seems challenging. We've included a quiz with each lesson so you can feel confident moving ahead knowing you've mastered these concepts. Once you finish this chapter, you should be able to:
- Detail the components of the balance sheet
- Define assets and provide examples
- Outline the characteristics of current and long-term liabilities
- Understand the formula used to calculate owner's equity
- Discuss the purpose and format of the statement of cash flows
1. The Balance Sheet: Purpose, Components & Format
There are four financial reports that make up a group known as the financial statements. We will take a walk with one of those reports - the balance sheet - and learn what it is, what items are included on it and what its role in the group is.
2. What Are Assets? - Definition & Examples
In this lesson, you will learn about assets, the first variable of the basic accounting equation. We will discuss the definition, categories, and classifications of assets.
3. Current & Long-Term Liabilities: Definition & Characteristics
In this lesson, we'll define 'liabilities.' You'll also learn the difference between current and long-term liability. Finally, we'll discuss on which financial statement you'll find liabilities and provide examples of each type.
4. How to Calculate Owner's Equity: Definition, Formula & Examples
In this lesson, you'll learn how to calculate owner's equity. We'll explore the definition and formula of owner's equity through the lens of a hypothetical business, and take a look at some examples of how it appears on balance sheets.
5. The Statement of Cash Flows: Purpose, Format & Examples
There are four financial reports that are required in financial statements. In this lesson, you will learn about the fourth and final report - the statement of cash flows. You'll learn what the makeup of the statement is, its purpose, and why it is important to users of the financial statements.
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Other chapters within the Health 305: Healthcare Finance & Budgeting course
- Introduction to Healthcare Finance
- Organizational Structure in Healthcare
- Healthcare Organizations & Services
- Financial Reporting in Healthcare
- Health Insurance & Reimbursement
- Estimating Healthcare Costs
- Healthcare Financial Management
- Accounting & Income Statements in Healthcare
- Financial Assessment in Healthcare
- Healthcare Planning & Budgeting
- Project Costs & Evaluation in Healthcare
- Healthcare Staffing Needs & Forecasting
- Trends in Healthcare
- Required Assignment for Health 305