...Capital Project Martha Mireles HCS/571 February 11, 2013 Janine Lewis Capital Project “A capital expenditure is a commitment of resources that is expected to provide benefits during a reasonably long period, at least two or more years” (Cleverly & Cameron, 2007, p. 397). Sometimes it can be difficult to determine the difference between a capital expenditure and a routine expense. A capital expenditure improves the value of the asset, whereas a routine expense is used for maintenance of that asset. For example, installation of a new bathroom in a rental is a capital expenditure, because it increases the value of the rental. Repairing the stove, however, is a routine expense designed to keep the rental in operating condition. The main goal of a capital purchase is that the lifetime of that product will extend beyond the year of purchase. After purchased the product is called a capital asset. Capital assets are all tangible property which cannot easily be converted into cash and which is usually held for a long period, including real estate, equipment, etc. (Finkler, Kovner, Jones, 2007). Capital assets and money used to purchase such items are treated differently than that of the operating budget. The operating budget is money being used and tangible at the time. Capital assets may cost money now, yet you may not profit from them until another period of time. The key to a good capital purchase knows the life of the product. This can help you choose...
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...Section I of the Capital Project Christina Haralson University of Phoenix HCS/571 Ralph Gigglio July 9, 2012 Section I of the Capital Project Within the hospital system, there are many decisions and steps one must take when deciding on a capital purchase for the organization. Capital purchases are considered purchases that will benefit your organization for more than a year. For the purpose of this paper the capitol purchase discussed is one of the electronic medical record. The federal government wants all medical providers to have an Electronic medical record by the year 2014. To keep up with the growing changes in technology allotting for this purchase will greatly affect the hospital system in many ways and prove its return on investment (ROI). According to Health Revenue.com, “ The goals of the EMR are: * EMR will help to streamline the medical records process by bringing structure to how it is done * EMR will help to ensure medical records are more complete and correct * EMR will help to providers follow drug authorization more thoroughly to protect against errors and abuse * EMR will reduce transcription costs * Fewer charts will have to be pulled because physicians will have easier access to information, no matter where they are * EMR will improve clinical messaging and thus improve the work flow and care of patients * EMR will help make charge capture more accurate (2011)”. This paper will explore the management and organization goals...
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...Capital Purchase Justification Jessica Keating Grand Canyon University: HCA- 530 January 21, 2016 According to the National Cancer Institute, “12.4 percent of women born in the United States today will develop breast cancer at some time during their lives” (NIH,2012). Early detection and treatment of breast cancer is possible with the use of digital imaging through a mammogram and a clinical breast exam. The Center for Disease Control reported, “ In 2010, an estimated 75.4% women aged ≥40 years and 79.7% of women aged 50–74 years reported having a mammogram within the past 2 years” (Miller, 2012). My intent in writing this report is for our organization to capture this very crucial part of the market. My goal is to explain to you how our facility could benefit from the acquisition of a GE SenoClaire 3D Tomosynthesis system. Our facility like others in Arizona are working towards decreasing rising healthcare costs through the promotion of preventative health care and early interventions for high risk populations. I feel like our health care network could be a leader in breast health and breast cancer awareness with the right tools. Currently, “ The cost of screening mammograms is covered without copayments or deductibles. Medicare pays for annual screening mammograms for all female Medicare beneficiaries who are age 40 or older. Medicare will also pay for one baseline mammogram for female beneficiaries between the ages of 35 and 39. There is no deductible...
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...Capital Purchase Justification MRI stands for Magnetic Resonance Imaging which is a technology that uses magnetic signals to show the different tissues inside the body allowing a digital image of inside the human body to be created. MRI's are mainly used to study nerves, muscles, ligaments, bones, and numerous other tissues in the body, primarily soft tissues. There are so many MRI procedures performed each year making this one of the more common imaging technologies used to view inside the body. It will continue to enhance medical services and better meet community needs. It is an important new application in new patient care and the fastest growing imaging, spurred in part by rapid advances in technology. The skills can lead to faster and more accurate diagnoses. Also, the more specific treatment of medical conditions the better it can support and enhance the work of other departments in the hospital. Hospitals may find that having MRI abilities helps interest and keep doctors. Doctors would like to be working with advanced technologies and that they will be able to get faster and more imaging and diagnosis for their patients. When the technology is new it’s better to use than the old equipment because when there its old, spending to repair it is a lot of money and runs slow because it isn’t advanced. Many patients will want to come to your hospital due to the advanced technology that’s in the hospital. It will increase the revenue as patients get further medical treatment...
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...Grant Clinic: Equipment Purchase and Capital Budget FIN/HC571 September 19, 2011 Dr. Joyce S. Freville Abstract Grant Clinic Incorporated would like to purchase new equipment for the radiology department. Dr. Grant Dunn head of the radiology department has located two pieces of equipment from two different vendors. Dr. Dunn will need to consider which vendor is offering a better deal prior to purchasing using payback, net present value, and internal rate of return method. Each piece has an estimated five-year life span with a desire payback period of three years at a 15% target rate. Model A Model B Cost, including installation $120,000 $110,000 Estimated annual labor savings $40,000 $32,000 Payback Methods Payback method calculates the amount of time it will take to regain the investment in a capital asset with no regard for the time cost of money (Baker & Baker, 2006). Payback Method Formula Investment /net annual = years payback period Model A payback period = $120,000 / $40,000 = 3 year payback period Model B payback period = $110,000 / $32,000 = 3.2 years payback period Net Present Value Net present value (NPV) used to evaluate and analyze the reliability of an investment and its profitability for capital budgeting purposes (Accounting for Management, 2011). The difference between the present value of cash inflows and the present value of cash outflows refers to net present value (Investopedia...
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...STANDARD INTERNAL AUDIT PROGRAMME ----- I. SALES: 1 To study the system for approval and acceptance of orders and to give suggestions for improvement. 2 To check the order acceptance with price list, if any, and to report the financial impact of sales below the price list. 3 To compute the percentage mix of sales made to new parties developed during the period under review and also compute the opportunity loss due to non-development of prospective parties as customers. To identify the reasons for non – development of these parties into customers. This may, further, be correlated with the expenses incurred during foreign tours conducted by the marketing personnel. 4 To study the system of order acceptance and invoicing and to report deficiencies in internal control, if any, along with suggestions for improvement. 5 To check the complaints and rejections during the period under review. Following aspects are to be checked in details: a) Nature of various complaints and percentage thereof. Reasons for frequent complaints of similar nature to be looked into. b) To study the role and follow up done by the Quality Assurance Department in respect of various complaints received during the period. c) To check whether there has been any major rejection, both, in domestic and overseas market, identify the reasons for the same and follow up action taken in this respect. d) To study the various reports prepared for monitoring...
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...CHAPTER 2 Overview of Business Processes SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 1. Three different types of information exist in Table 2.1: 1. Internally-generated financial data 2. Internally-generated operating data 3. Externally-generated data. Internally generated financial data would be captured directly on source documents that are processed by the AIS and would be reported in traditional financial statements. Internally generated operating data can be captured in two ways. Some of this data (e.g., time worked) would be captured on source documents. Other data (e.g., employee skills) would traditionally be captured and stored by an information system that is not part of the AIS itself. The AIS, however, should be redesigned so as to integrate this data with the other transaction-oriented data. Some of the data (e.g., information on market share and customer satisfaction) must come from external sources. The AIS should be designed to store this data in an integrated manner with internally generated data. 2.2 The fact that all documents are prenumbered provides a means for accounting for their use and for detecting unrecorded transactions. Thus, a missing check indicates a meal for which a customer did not pay. Since each server has his or her own set of checks, it is also easy to identify which server was responsible for that customer. This policy may help to deter theft (e.g., serving friends and not requiring...
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...COMPUTER COLLEGIATE Practice Test Subject: Excel & Peachtree Name: ___________________ Timings: ___________________ Q. In which menu do we found the option of General Journal Entry? Q. Applied to sales tab is use for a. b. c. d. Credit Sales Cash sales Sales through Sales Order Cash purchase Q. What is the purpose of using any ERP? Q. In assembling companies business only purchase ___________________ and sale _______________ Q. What is the difference between Real time and Batch? Q. Peachtree is made by a. b. c. d. Microsoft Sage Adobe Flash Q. What is Payroll Journal? Q. What is the type of capital account? Q. What is nature of prepaid Expense? Asset Liability Equity Q. Which one of the following is Large ERP? a. b. c. d. Peachtree Tally Oracale Myob Q. Sale return is recorded through which Voucher? Q. Which Report shows the details about the entire job? Q. What is the purpose of vendor Credit Memo Voucher? Q. Job Order Costing is use in which type of the companies? a. b. c. d. Manufacturing Assembling Distributing Construction Q. In which menu do we found the option to run Sales tax wizard? a. b. c. d. Task Maintain Reports & Forms List Q. Cash sales are recorded through which voucher? a. b. c. d. Receipt Invoice Credit Memos Payments Q. Which Report shows balance on Customer? Q. During maintain inventory, which Account should be link in GL Inventory account? Q. What...
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...Scenario One: (500 Words) You are an audit senior in an accounting firm and you asked the audit partner about the ‘audit expectation gap’. The audit partner provided his opinion on the issue as follows: There is a so called ‘audit expectation gap’, and it is associated with unreasonable expectations of users. They want all fraud found, and a guarantee that the company will continue forever! This is quite unreasonable and not what the audit is designed to do! Perhaps we could do more on these issues, but it would be more work, cost more, and I doubt whether the companies would be prepared to pay anyway. Required Discuss the views of the audit partner. Scenario Two: (500 Words) Eric, a young CPA and one of the audit team members for ABC Pty Ltd, has developed very good insights into the company’s systems in the last 12 months and was asked by his partner, John, to draft a report on the reliability of internal control at ABC for review. The report is to be used as a part of a due diligence assurance engagement for ABC’s prospectus. ABC wants to be listed on Australian Securities Exchange by coming June. In carrying out the review, Eric finds a number of matters that concern him. He notices that the controls over inventory requisitions are very poor, leading to numerous complaints from customers about delays and wrong deliveries, and cancellations. Moreover, the inventory records do not show the history or the values of the inventory, so that estimates were used to arrive...
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...SYMBIOSIS LAW SCHOOL, PUNE Constituent of Symbiosis International University, Pune (Accredited by NAAC (UGC) with `A’ Grade) Managerial Economics Internal Assessment REPORT ON ‘LEASE AND HIRE PURCHASE COMPANIES’ Submitted by SIVAGNANAM KARTHIKEYAN ROLL NO: 135 DIV ‘B’ BBA. LLB. BATCH 2013-18 LEASING A lease transaction is a commercial arrangement whereby an equipment owner or Manufacturer conveys to the equipment user the right to use the equipment in return for a rental. In other words, lease is a contract between the owner of an asset (the lessor) and its user (the lessee) for the right to use the asset during a specified period in return for a mutually agreed periodic payment (the lease rentals). The important feature of a lease contract is separation of the ownership of the asset from its usage. Lease financing is based on the observation made by Donald B. Grant: “Why own a cow when the milk is so cheap? All you really need is milk and not the cow.” Leasing industry plays an important role in the economic development of a country by providing money incentives to lessee. The lessee does not have to pay the cost of asset at the time of signing the contract of leases. Leasing contracts are more flexible so lessees can structure the leasing contracts according to their needs for finance. The lessee can also pass on the risk of obsolescence to the lessor by acquiring those appliances, which have high technological obsolescence. Today, most of us are familiar...
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...The purchase of the Louisiana Territory in 1803 opened the door to westward expansion. Thomas Jefferson purchased this extensive plot of land with the hopes of strengthening and expanding the Republic, unaware that it would have the opposite effect. Jefferson’s fateful decision to expand the United States nearly destroyed the Republic that Americans worked so hard to build. It triggered the rise of divisions amongst Americans. These small cracks continued to grow and tear at the seams of the nation. Although westward expansion between 1800 and 1848 granted many new opportunities to the American people, it also brought about tension that plagued the nation for years to come. Some historians may construe westward expansion as beneficial to the...
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...Chapter 11 - The Triumphs and Travails of Jeffersonian Republic I. Federalist and Republican Mudslingers 1. In the election of 1800, the Federalists had a host of enemies stemming from the Alien and Sedition Acts. 2. The Federalists had been most damaged by John Adams’ not declaring war against France. * They had raised a bunch of taxes and built a good navy, and then had not gotten any reason to justify such spending, making them seem fraudulent as they had also swelled the public debt. * John Adams became known as “the Father of the American Navy.” * Federalists also launched attacks on Jefferson, saying that he had robbed a widow and her children of a trust fund, fathered numerous children with his slaves (which turned out to be true), called him an atheist (he was a Deist), and used other inflammatory remarks. II. The Jeffersonian “Revolution of 1800” 1. Thomas Jefferson won the election of 1800 by a majority of 73 electoral votes to 65, and even though Adams got more popular votes, Jefferson got New York. But, even though Jefferson triumphed, in a technicality he and Aaron Burr tied for presidency. * The vote, according to the Constitution, would now go to the Federalist-dominated House of Representatives. * Hateful of Jefferson, many wanted to vote for Burr, and the vote was deadlocked for months until Alexander Hamilton and John Adams persuaded a few House members to change their votes, knowing that if ...
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...Chapter 1—AIS overview (3 Questions = 4.5 points) Purpose of/value provided by AIS 1. Improving the quality and reducing the costs of products or service 2. Improve efficiency and effectiveness of the value chain and supply chain 3. Share knowledge 4. Improve the internal control structure 5. Improve decision making Key Role if the AIS 1. Collecting and storing data 2. Providing information for decisions 3. Safeguarding assets Value Chain Activities 1. Inbound Logistics------ receiving and storage 2. Operations -------------- manufacturing and repackaging 3. Outbound Logistics---- distribution shipping 4. Marketing & Sales------ advertising, selling 5. Service-------------------- repair, maintenance Characteristic of Useful Information 1. Relevant 2. Reliable 3. Timely 4. Verifiable 5. Understandable 6. Accessible 7. Complete Chapter 2/SUA Purpose/use of general ledger, subsidiary ledgers, special journals and cash prelist General Ledger= contains summary level data for every asset, liability, equity and revenue, and expense account...(accounts receivable) Subsidiary Ledger= contains detailed data for any general ledger account with many individualized subaccounts.... (Separate account for each accounts receivable) General Journal= used to record infrequent or non-routine transaction, such as loan payments Specialized Journal= records large numbers of repetitive...
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...Re Table of Contents COMPANY LETTER HEAD ......................................................................................................................... 2 INSTITUTE CERTIFICATE .......................................................................................................................... 3 ACKNOWLEDGEMENT ............................................................................................................................. 4 EXECUTIVE SUMMARY ............................................................................................................................ 5 1 Company Profile:............................................................................................................................. 6 1.1 1.2 1.3 1.4 Introduction ............................................................................................................................ 6 A Brief History ......................................................................................................................... 6 Milestones:.............................................................................................................................. 7 Vision....................................................................................................................................... 7 Companionship: .............................................................................................................. 7 Tangible differentiation: ..................
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...uncollectible receivables as necessary. 1d. Sales Order Packing Slip Bill of lading Invoice Check Remittance Guide Deposit Slip 1e. Internal controls in the sales/collection process should be based on a comprehensive risk analysis. Depending upon its risk exposures, an organization can implement internal controls such as document matching, separation of duties, bank reconciliations, and formalized policies for granting credit to customers. 1f. 1) They only accept checks. Dan should not collect payment, makes deposits, and reconcile the bank statement. 2) They should have a person collect the check, another person deposit the check, and a third person deposit the money. 3) They need to run sales through a point of purchase or financial software. Dreambox does not log and enter into Quicken. They only use Quicken to write checks. They can sign up for a merchant account for credit cards and have checks electronically deposited into bank account. 6. Sales A/R Sales Discounts COG Sold Inventory Freight Cost Cash Cash 1,100...
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