How do ledger and journal entries interact with one another?

Explain how the ledger provides the information needed to

prepare the balance sheet.

Distinguish between a temporary and a permanent account.

Explain how the ledger provides the information needed to

prepare the operating statement.

What is the main purpose of the statement of cash flows?

What are the three categories used within the statement of

cash flows? Why are these categories important for

understanding an organization's cash situation?

Differentiate between the direct and the indirect methods for

preparing and presenting the statement of cash flows.

Explain why health care organizations need both an

operating statement and a cash flow statement.