Your Health Care Organization (URHealth) CEO is excited that you are enrolled in a Health Care Accounting Course. He believes that that course would equip you with the Accounting Fundamentals for Health Care Management, knowing that that competency will benefit URHealth in the foundational understanding of its accounting and financial reporting. Coincidentally, you would be accompanying the CEO to a luncheon where he will present, among others, the financial health of URHealth to donors and other attendees. The CEO who has no accounting knowledge whatsoever asks for your opinion on the following.

He wants you to explain to him the difference between managerial and financial accounting. He told you that he heard from a commentator saying that “health care managers should only be concerned about the organization’s long-term financial health and prospects.” However, he confided in you that he found that statement confusing and so wanted some clarifications from you. Do you agree with that statement? Explain.

Understanding that revenue is central to URHealth financial viability, he asks you if health care providers record as revenue what they charge customers. Briefly explain. You were surprised that the CEO believes that all third-party payers are private insurance companies. He saw the astonishment on your face and wonders why. If he was wrong, he wants you to explain to him why he was wrong. Finally, he remembers that someone from the audience could ask general questions about the Patient Protection and Affordable Care Act of 2010. Therefore, he wants you to discuss at least two significant details of the ACT. Present your responses to the questions in a memo format to the CEO.

Your CFO informed you that that CEO will reward you graciously with 100 points towards your promotion and that those points will be allocated to each of the five areas of expectations above as follows:

15 points

40 points

15 points.

10 points.

20 points.

To appropriately guide you so that you can take full advantage of the point incentives/reward system, the CFO advised you to follow the company’s document titled “Paper Writing Rubric,” as the HR Director would use that document to score your memo. In addition to the Paper Writing Rubric, you are aware that the Organization always encourages you to feel free to contact other relevant materials that you may deem fit. You must cite and provide references for all materials used as appropriate.

Answer rating: 100% (QA)

There are two essential contrasts among financial accounting and managerial accounting The main dist... View the full answer