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Introduction to Health Care

Accounting and Financial


Management
• Why is it needed to understand
Accounting to become an effective health
care manager?

Health care executives needs to make


financial decisions and be able to
communicate effectively with
financial managers.
Accounting

• a system for providing financial


information 2 Elements
Financial
of Accounting
Accounting
Financial Accounting Managerial Accounting
• Provision of the • Provision of
retrospective prospective financial
information regarding information for
the financial position making improved
of the organization managerial decisions
and the results of its • Budgeting process,
operations provides planning and
• Records the financial operational
activities of the information to
organization. managers
Financial Management

• Management of the finances of the


organization to maximize wealth and
achieve other goals
Accounting Concepts
• Assets
• Resources that the firm USES TO CONDUCT
BUSINESS
• Cash, Accounts receivables, Equipments/supplies, etc.
• Liabilities
• Obligations to outside creditors
• Accounts payables
• Equity
• Residual interest of the owners in the assets after
deducting liabilities
Accounting Equation

Assets = Liabilities + Equity


Analysis of Business Transaction using
Accounting Equation
Balance Sheet
Assets Liabilities Equity
June 30, 2018 ₱ 177,000 ₱ 122,000 ₱ 55,000
₱ 6,000 - ₱ 6,000
- ₱ 10,000 - (₱ 10,000)
₱ 18,000 ₱ 20,000 - (₱ 2,000)
July 31, 2018 ₱ 201,000 ₱ 152,000 ₱ 49,000

Calculate amount of profit or loss during at the end of July, 2018.

1. The owner invested ₱ 6,000 in the business and made no withdrawals.


2. The owner made no investment. The owner withdrew cash of ₱ 10,000.
3. The owner made investment of ₱ 18,000 and withdrew cash of ₱ 20,000.
Financial Accounting Statements
• Balance sheet
• Financial Position
• Summarizes the assets, liabilities and equity at a
particular point of time.
• Income Statement
• Operating statement
• Listing of revenues and expenses; shows how
much the organization made for a period of time
• Statement of Cash Flow
• Tests where cash came from and how it was spent
Preparing Accounting Statements
Assets Liabilities
Date Acct. Equipments/ Acct. Capital
Cash Receivables Supplies Payables
2 Dec
180,000 180,000 Deposit
2 Dec
-5500 -5,500 Office rent
3 Dec
4 Dec -18,000 18,000 Computer

5 Dec 42,000 42,000 Furniture


9 Dec 9,000 9000 Supplies
12 Dec 15,000 15,000 S. Revenue
18 Dec -2500 -2500 Bills
11,000 11,000 S. Revenue

165,000 15,000 69,000 51,000 198,000


A Histopath
Balance Sheet
As of December 18, 2017

ASSETS LIABILITIES
Cash ₱ 165,000 Accounts ₱ 51,000
Payables
Accounts ₱ 15,000 ₱ 51,000
Receivables
Computer ₱ 18,000 EQUITY
Furniture & ₱ 42,000 Capital Stock ₱ 198,000
Fixtures
Supplies ₱ 9,000 ₱ 198,000

Total Assets ₱ 249,000 Total Liabilities and Equity ₱ 249,000


A Histopath
Income Statement
For the period ended December 18, 2017

Revenues ₱ 26,000
Expenses Office Rent ₱ 5,500
Bills (Electricity & Internet) ₱ 2,500
Supplies ₱ 9,000 ₱ 17,000
Net Income ₱ 9,000
A Histopath
Statement of Cash Flows
For the period ended December 18, 2017

Cash Flows from Operating Activities Cash Flows from Investing Activities
Cash Received from ₱ 11,000 None -
revenues
Payments to Office Rent -₱ 5,500 Net Cash used for Investing -
Activities

Payments to Computer -₱ 18,000 Cash flows for Financing Activities


Payment to Bills (Electricity -₱ 2,500 None -
and Internet)

Net Cash used from -₱ 15,000 Net Cash used for Financing -
Operating Activities Activities
Net Increase in Cash -₱ 15,000
Cash, December 2, 2017 ₱ 180,000
Cash, December 18, 2017 ₱ 165,000
SEATWORK
Assets Liabilities Equity
Date Cash A.R. Equip. A.P. Capital Remarks
Assets Liabilities Equity
Date Cash A.R. Equip. A.P. Capital Remarks
1 Sept ₱ 150,000 ₱ 150,000 Deposit

Sept-Feb ₱ 90,000 ₱ 90,000 Revenue

Sept-Feb - ₱ 7,500 - ₱ 7,500 Rent

Sept-Feb - ₱ 8,500 - ₱ 8,500 Electricity

Sept-Jan - ₱ 4,500 - ₱ 4,500 Telephone

- ₱ 40,000 ₱ 40,000 Equipment

- ₱ 5,000 - ₱ 5,000 Ad

- ₱ 9,500 - ₱ 9,500 P. expense

Feb 28 ₱ 8,000 ₱ 8,000 Revenue

Sept-Feb ₱ 3,500 - ₱ 3,500 Water bill

Feb ₱ 1,100 - ₱ 1,100 Telephone

₱ 165,000 ₱ 8,000 ₱ 40,000 ₱ 4,600 ₱ 208,400


FIRST LABORATORY
Balance Sheet
As of February 28, 2018

ASSETS LIABILITIES
Cash Accounts
Payables
Accounts
Receivables
Equipment EQUITY
Capital Stock

Total Assets Total Liabilities and Equity


FIRST LABORATORY
Balance Sheet
As of February 28, 2018

ASSETS LIABILITIES
Cash ₱ 165,000 Accounts ₱ 4,600
Payables
Accounts ₱ 8,500 ₱ 4,600
Receivables
Equipment ₱ 40,000 EQUITY
Capital Stock ₱ 208,400

₱ 208,400

Total Assets ₱ 213,000 Total Liabilities and Equity ₱ 213,000


FIRST LABORATORY
Income Statement
For the period ended February 28, 2018

Revenues
Expenses

Net Income
FIRST LABORATORY
Income Statement
For the period ended February 28, 2018

Revenues ₱ 98,000
Expenses Office Rent ₱ 7,500
Electricity ₱ 8,500
Telephone ₱ 5,600
Advertisement ₱ 5,000
Personal Expense ₱ 9,500
Water ₱ 3,500 ₱ 39,600

Net Income ₱ 58,400


FIRST LABORATORY
Statement of Cash Flows
For the period ended February 28, 2018
Cash Flows from Operating Activities Cash Flows from Investing Activities
Cash Received from None
revenues
Payments to Office Rent Net Cash used for Investing
Activities
Payments to Bills Cash flows for Financing Activities
(Electricity, Telephone)
Payment to Equipment None
Payment to Advertisement
Personal Expenses
Net Cash used from Net Cash used for Financing
Operating Activities Activities
Net Increase in Cash
Cash, September 1, 2017
Cash, February 28, 2018
FIRST LABORATORY
Statement of Cash Flows
For the period ended February 28, 2018
Cash Flows from Operating Activities Cash Flows from Investing Activities
Cash Received from ₱ 90,000 None -
revenues
Payments to Office Rent -₱ 7,500 Net Cash used for Investing -
Activities
Payments to Bills -₱ 13,000 Cash flows for Financing Activities
(Electricity, Telephone)
Payment to Equipment -₱ 40,000 None -
Payment to Advertisement -₱ 5,000
Personal Expenses -₱ 9,500
Net Cash used from ₱ 15,000 Net Cash used for Financing -
Operating Activities Activities
Net Increase in Cash ₱ 15,000
Cash, September 1, 2017 ₱ 150,000
Cash, February 28, 2018 ₱ 165,000

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