WEEK 1
DQ 1: What are the four elements of financial management? What is a professional or personal experience you have had with the elements? Identify the element or elements and explain the experience.
DQ 2: Why do we need financial and managerial accounting? What are the differences between the two? List references if you use a source other than the text.
WEEK 3
DQ 1: Provide an example of a direct cost and indirect cost from your workplace or an organization with which you are familiar. What is the difference? Explain your answer. List references if you use a source other than the text.
DQ 2: Understanding the difference between fixed and variable costs, what area of a health care facility or physician practice do you think would have a greater amount of variable costs than fixed? What would you suggest to lower the fixed costs for the same area?
WEEK 5
DQ 1: Each department is responsible for inventory control. At your workplace or an organization you are familiar with, what type of inventory method is utilized? Last in, first out, or first-in first out? What weaknesses have you encountered if any? Explain your answer. List any references if you used any sources other than the text.
DQ 2: What is the relationship between inventory and cost of goods sold for a pharmacy or medical supply business? Explain the depreciation concept. What items in a physician practice can be depreciated? What is the purpose?
WEEK 7
DQ 1: What do you think is the major purpose of financial statements? Why? Explain what type of information can be derived from financial statements. List references if you use a source other than the text.
DQ 2: Why is budgeting so important? What are the appropriate uses of a budget? How can budgets be mismanaged or misunderstood? What are some criteria you would use to choose between a fixed and a flexible budget? Explain your answers.
WEEK 9
Capstone DQ: Provide an example of a health care capital expenditure. Why is the capital expenditure budgeting process important? What concepts should be considered when evaluating a capital expenditure? What do you feel is the most important factor when considering a capital expenditure proposal?
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