...Evaluating Financial Health ACC 230 April 15, 2012 Evaluating Financial Health Mesquite Independent School District’s first school opened in fall 1901, after holding a vote that totaled 103 out of 108 votes. The first school consisted of 200 students and 5 teachers, now 110 years later their enrollment is over 37,000 in its 46 different campuses. Mesquite ISD has relied on their budget to maximize the student knowledge and retaining staff to fulfill the job. Mesquite school district suffered along with many other school districts in the state of Texas in 2011 due to cuts in funding across the board. Each district chose which way would be to solve the problem. Dallas ISD offered retirement incentives, Mesquite ISD choose raise freezes and other cuts in costs. Mesquite ISD’s quest for excellence does not stop with its classrooms and staff the district received a “Superior” rating under the Financial Integrity Rating System of Texas, a financial accountability system for Texas school districts (Weaver and Tidwell LLP, 2011). Mesquite School Districts Total Net Assets totaled $141,556,160 for year end of 2011 a 5.9 percent increase from 2010. The district’s 2011 general fund balance increased $8,307,349 from 2010 totaling $77,549,332 (Weaver and Tidwell LLP, 2011). In 2011 the district was able to decrease its liabilities by $19,628,436 from 2010, which was utilized in other areas hit by the funding cuts. At the end of 2011 the districts total assets increased...
Words: 831 - Pages: 4
...Evaluating Wal-Mart's Financial Health Elizabeth ACC/230 October 16, 2011 Tarsha Bowie Evaluating Wal-Mart's Financial Health Wal-Mart is a big multi-billion dollar company. There are millions of stores all over the world and they generate billions of dollars in sales, but just because a company is a multi-billion dollar company does not mean their financial health is all that great. So the purpose of this paper is to break down the financials of Wal-Mart and analyze the financial health of Wal-Mart. I will be using the annual reports from 2009, 2010 and 2011 to examine and break down the various trends over the 3 years and be able to see what trends keep on happening, which trends are good for Wal-Mart and which trends are damaging them. I will be breaking down not only the financials, but also the current and future outlook on the business according to the trends that the financials show. I will also be taking into account the success of the company’s operations and the outlook of the current economy and how that has affected the financials. And then last but not least, I will be comparing the financial health of Wal-Mart to other companies the same industry and seeing how they are doing compared to Wal-Mart. First of all, I will summarize the financial information for Wal-Mart. I used the years 2009, 2010, and 2011 annual reports to gather my information. In the 2009 annual report the first thing they state right off the bat is the highlights, which are...
Words: 1672 - Pages: 7
...Variance Analysis Health care is in itself an extraordinarily intricate business. Health care executives now have to find ways to transform a broken and out of date health cares system by focusing on reducing pointless surgeries and diagnostic test and removing disproportionate health care costs. When the annual budget presents itself and shows that salaries are steadily increasing with supplies decreasing several factors have to be considered when presenting the variance analysis report. Factors that should be considered are the number of staffing, patient bed occupancy, specialist care and supplies. In order to control cost the executive must be able to recognize the problem and its cause and have a solution in place to correct it. Evaluating the current costs against the previous costs of the hospital should suggest to executives which factors have contributed to the change. (Cleverley, Cleverley, Song 2011). In this situation it is the salaries increasing and supplies decreasing. These two factors have to be heavily investigated prior to the analysis report. The first factor to consider will be the increase in salaries that were more than what were budgeted for. The most important and largest asset of the hospital are the people that are employed. In regards to the variance report the first consideration to the employment would be to consider those that are employed under a contract. These costs cannot be controlled, however renegotiating the contract can reduce...
Words: 985 - Pages: 4
...teamwork. It also plays in factors of individual development relevant to empowerment, alignment, liability, risk, as well as professional development. No matter what type of profession an individual enters, training and development is necessary to further complete their skills to be successful. The health care industry is a complex field that requires extensive education and training in addition to personal daily progression. The numerous and diverse workplaces that healthcare professionals are found in make training and development just as varied. Large and small medical practices, hospitals, therapy centers, and testing facilities all require employees skilled in specific tasks as well as administrative functions. Some basic and necessary functions an individual in the health care industry is expected to have are interpersonal skills and administrative production. Interpersonal skills among the staff are necessary for the organization to be effective and serve patients, while properly being able to manage patients’ health and financial issues can shorten wait time and improve quality of care. Training and Education Training and education is also essential in the health care industry. As stated earlier, training provides specific skills, while education is a learning process using values, theories, and a model to develop...
Words: 1153 - Pages: 5
...Describe the Health Belief Model (10) The health belief model is a psychological model that attempts to explain and predict health behaviors, focusing on the attitudes and beliefs of individuals does this. It is used to predict the uptake of health behaviors based on several factors. The more factors that are present in a particular situation, the more likely you are to behave healthily. Health behaviors include giving something up (smoking), refusing to try something (drugs), regularly checking your health (self-examination), regularly preventing problems (brushing your teeth). According to the health belief model, the likelihood that individuals will carry out a health behavior depends directly on two assessments that they make- evaluating the threat and the cost-benefits analysis. Evaluating the threat of a certain behavior entails considering how serious one believes the behavior to be and susceptibility of the behavior. In regards to the costs-benefit analysis one is believed to consider whether the perceived benefits of changing behavior exceed the perceived barriers. An example of benefits could include improved health and relief from anxiety. Some examples of barriers could include financial instability and situational problems (getting to a gym). Becker’s study used the HBM to explain mum’s adherence to a drug regimen (i.e routine for taking medication) for their asthmatic children. The study confirms the HBM is an accurate predictor of the likelihood of a...
Words: 269 - Pages: 2
...Evaluating Business Communication Aniushka Caraballo Reimondez BCOM/230 May 16, 2011 Jennica Moore Evaluating Business Communication For this evaluation I choose the financial report of JJJ Company and after reviewing the report a can conclude that when it comes to the transmission of the message, this report conveys a clear message: do not acquire JJJ Company, the report was clear and to the point. Because of the nature of the information presented (graphics and numbers) I do not consider that any other type of communication would had been as effective as a financial report; a memo can provide information regarding why not to move forward with the acquisition, however the level of detail and the use of graphics is not found in the memo, the same would go with an email or a letter, that is way I think that the financial report was the right choice to present this information. Being the audience the CEO of the company, he require facts represented by numbers and graphics, however they need to be presented in a clear matter so the information can be understood clearly and any questions that the CEO might have are answered; this report presented simple yet clear facts on why not to move with the acquisition, and using the information presented the CEO should be able to move make a conscience decision regarding the acquisition. In order to improve this report I consider that the wording should be review, although the financial report is clear I would make sure to avoid...
Words: 496 - Pages: 2
...Success of our organization depends on how well they balance quality and patient satisfaction with adequate financing and long-range goals. Health care organizations such as Plaza West Assisted Living must deal with government oversight, managed care, new technologies, and increasing pharmaceutical prices. To achieve these goals it is important that quality staff is in place at the organization. The way to make sure that you have quality staff is evaluating their performance on a regular basis using standards that can be measured and does not rely on personal feelings. Currently our organization has no way of evaluating the performance of employees that would reflect in an annual raise, bonus or promotion. This has caused issues in the workplace because employees feel that they should be rewarded for what they have accomplished. They do not like the idea that someone that is not performing well receives the same amount of raise that they do. This starts a mentality of why should I work so hard when this person doesn’t and gets the same raise I get. These internal organizational issues reflect in the care of the patient I believe by establishing a performance evaluations policy this would increase an individual’s focus on the task ahead, increase confidence as they beat personal bests, and increase unity in a work environment by engaging them more in their work (Flahery, 2010). This in turn will increase the quality of care for the patient and the reputation of the organization...
Words: 1299 - Pages: 6
...2011 Economic Terms and Health Care History Health care economics has gone through many changes over the years. With all of the changes health care organizations have had to adjust their financial strategies as well as their organizational strategies. The economy has had a lot to do with all of these changes. Healthcare organizations have so many demands put on them. Some of the changes that have occurred are due to the advances in medicine such as diagnostic, procedures and pharmaceutical. Insurance Payments over the years have changed. It used to be that you had health insurance and your bills would get paid over the years the payment system has changed and more and more is coming from the patient’s pocket. In this paper the focus will be these key terms supply and demand, microeconomics, microeconomics and elasticity. The issue is not how to fill or reuse empty beds. In this changing environment, hospitals and health systems must focus on streamlining and simplifying operational processes, facilitating case management, promoting the least costly setting for care delivery, and optimizing resource sharing among departments. When hospitals have addressed these issues, then solutions to the “bed problem” will be obvious.Cynthia Hayward, 1996(Marcinko, 2007). Division of economics focused on evaluating scarcity in health care systems in different economies. ("Health Economics", 2012). The currents state of our economy is a prime example. Health economics seeks to identify...
Words: 306 - Pages: 2
...Re: Discussion on the process of selecting decision alternatives for the whistle issue of the toy company, evaluating theadvantages, disadvantages, legal, financial and ethical considerations involved in the various alternatives.The purpose of this memo is to outline three possible decision alternatives to address the problem of small lead traces tocontents of metal whistles produced by a U.S toy company due for shipment to South America; by discussing the methods forthe selection of decision alternatives, the advantages, disadvantages, ethical considerations, financial and legal prospective ofthe each decisions . The memo will further justify and analyze the impact of the recommended decision on customerrelationship as well as demonstrate the role of ethics and social responsibility in choosing this decision.While important financial or strategic information is used in the decision-making process, business ethics has become anincreasingly popular tool used in making decisions. Business ethics is commonly referred to as the professional judgment orethical perspectives used by an individual or a company executive team in resolving moral or ethical problems in business. Inresolving the problem of the lead-contaminated metal whistles, I will discuss three possible decision alternatives, methods ofselection of the alternatives, pros and cons of the alternatives as well as potential legal, financialand ethical consideration involved in the selection. Ethical decisions-making can be...
Words: 3268 - Pages: 14
...ethics are moral principles that provide a guideline to organizations regarding how a business should run. A business that is ethical will also recognise the responsibility for minimising the non-financial costs. Human Resource Managers (HRM) plays an important role when it comes to guiding the organization in an ethical way as they are in charge of ethical issues that arise from the employer to employee relationship. The Human Resources (HR) function deals with a wide range of responsibilities and also it includes many ethical issues which may damage a company’s reputation and financial statistics if not handled properly (Ingram n.d.). They are obliged to run their duties ethically when employing people, conducting performance appraisals and ensuring health and safety in the workplace. Most importantly, they play a role in creating a culture of mutual respect and dignity. HR managers can guide employees understand the ethical issues using behavioural role modelling, personal reflection and moral dilemma discussions (Wells & Schminke 2001). The primary responsibility of a HR manager is the recruitment and selection of employees. They have to meet workforce demand and supply. In the recruitment process, the HR manager is required to follow a step by step procedure by evaluating the right number of vacancies needed, type of individual to undertake the job vacancies and conducting interviews. In the selection process HR managers are required to choose the appropriate person...
Words: 1060 - Pages: 5
...Audit, Attestation, and Assurance Services ACC491 Kimberly Johnson December 14, 2015 Audits, assurance services, and attest services are all work that could be performed by an auditor. Each category offers a range of services that could be beneficial to many companies, and all help in regulating a company’s financial documents. Audit Services There are 3 different types of audits, financial statement audit, compliance audit, and operational audit. A financial statement audit involves obtaining and evaluating evidence about a company’s presentation of their financial position, operation results, and cash flows. This audit is to ensure that the company is following all GAAP guidelines of reporting. In most states a CPA must complete these types of audits, and generally companies will hire an external auditor to perform this type of audit as the data is distributed to stockholders, creditors, regulatory agencies, and the general public. Compliance audits also involve obtaining and evaluating evidence to determine if financial or operating activities conform to specified conditions, rules, or regulations. Operational audits are to determine the efficiency and effectiveness of a company’s operating activities in relation to specified objectives. This type of audit is referred to as a performance audit or a management audit. Assurance Services Assurance services are a broader term that includes audits and other assurances about representation of management. Assurance services...
Words: 1284 - Pages: 6
...quality of pizza offering in order to achieve the customer growth. Customer Management Process Customer Management Process Acquisition Acquisition Retention Retention Growth Growth Selection Selection 6.4.1 Define the objectives in Customer Growth Processes. No | CLS & BLS | Growth Objective | | | Ensure Quality | Cross Sell Customer | Enhance Relationship | Solution Selling | | CLS | | | | | 1 | Increase Domino’s online ordering traffic to cater growing international appetite for fast food. | - | (1) | - | - | 2 | Developing pizza delivery targeting consumers who are willing to tolerate a degree of inconvenience. | - | - | (2) | - | | BLS | | | | | 3 | Introducing healthy Pizza menu for health conscious customers | - | - | - | (3) | 4 | To overall Domino’s system and enable PULSE system order accuracy and efficiency | (4) | - | - | - | | Note:(1) Create cross market by offering online ordering based on international pizza appetite...
Words: 1771 - Pages: 8
...principle and the intention behind the principle. The first principle which is accounting entity, is the intent for the understanding of a financial statement. In this statement, financial information is not only recorded but also reported. Another description of the accounting entity principle is that it takes on more than one dimension or meaning in recorded information, reported or legal and needs to be well defined in order for a clear understanding of financial information to be conveyed to others. This relates to health care in that the budget for a service line to give patient care is written in a financial statement. The managers over the service line need to know how to read the statement in order to record money spent and read how much money is available to spend. Explaining the second accounting principle, money measurement is the yardstick of how far the money can be stretched in purchasing the necessary goods and providing efficient service to the organization. In other words, the goal is to make the most effective use of the money resources, in order to maximize output at the least possible cost. According to Cleverley, Song and Cleverley (2011), financial information in regards to decision making within an organization can be utilized in the five following ways: "evaluating the financial condition of an entity, evaluating stewardship within an entity, assessing the efficiency of operations, assessing the effectiveness of operations, and determining the compliance...
Words: 937 - Pages: 4
...Simulation Review University of Phoenix HCS/405 Health care organizations, particularly hospitals face increasing problems managing cash flow due to changes in billing procedures and the economic climate. Research quoted in Fierce Healthcare Finance showed that hospitals are using investment cash flow, normally reserved for capital expenses, to pay for operating expenses. In a study quoted by Fierce Healthcare Finance (Ziegler, 2008) the depth of the problem becomes apparent “Between 2004 and 2007, the 170 hospitals studied by Best allocated a steadily greater portion of their invested assets to cash and short-term investments, climbing from 27 percent in 2005 to 31.1 percent in 2007.”With reduced funds available for capital expenses, it becomes difficult for hospitals to keep up with technology and to thrive. Elijah Heart Center is facing the financial dilemma common in specialized health care organizations, the combination of the need for improved technology, reduced income, and the demand for expansion. Without the needed technology and expansion, there little the hospital can do to improve income. The financial situation requires a combination of strategies to reduce costs and to make the wisest choices regarding acquiring needed technologies and expansion. Phase I: Capital Shortage The goal is to save $900,00 for the first year and to help improve the cash flow problem that Elijah Heart Center is experiencing. The hospital can select two cost cutting options...
Words: 1415 - Pages: 6
...Assessment Task 1 – Issues in Financial Reporting Question 1 There are many potential benefits associated with the international standardisation of accounting standards. Firstly, the standardisation of accounting standards makes it easier for international investors to better understand, compare, and interpret the financial performance and position of companies from different countries that are in competition with each other or are operating within a similar industry. Greater comparability and analysis of information helps these international investors to make more efficient, educated and intelligent investment decisions, particularly when it comes to deciding between the alternative investments on offer, and helps them to take advantage of the risk reduction that is possible through international diversification. Secondly, the harmonisation of international accounting standards reduces barriers to capital inflows by helping companies raise capital in domestic as well as international markets. This is useful particularly for those companies that find it difficult to obtain the funding necessary for their long-term growth and expansion projects in their local economy due to a scarcity of resources. To overcome this problem, companies can have their securities listed on foreign stock exchanges and in doing so, be able to significantly expand their base of capital funding. Harmonisation makes this possible because investors as a result are better able to understand the status...
Words: 2353 - Pages: 10
