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IntroductionNote: This assessment uses Vila Health: Financial Statement Analysis

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IntroductionNote: This assessment uses Vila Health: Financial Statement Analysis as the context for developing your analysis. Please make sure you have reviewed this media piece before you complete your assessment submission.Costs are evaluated very closely by all levels of health care administrators. Costs are broken down into different categories, such as direct costs versus indirect costs, and fixed costs versus variable costs (Finkler, Smith, & Calabrese, 2020). You will examine these types of cost and learn analytical methods such as break-even analyses and cost allocation methodologies. These methodologies explore the relationship between volume and cost and demonstrate why volume plays an important role in the planning process.For this assessment, you will research how costs are allocated from overhead departments to revenue-generating departments. You will conduct independent research on cost allocation methodologies in addition to using the materials provided in the text. You will also consider the steps involved in preparing a cost-benefit analysis (CBA) when deciding to purchase a capital item such as an MRI machine.The balance sheet, activity statement (also known as an income statement), and statement of cash flows are three of the most common types of financial statements that organizations prepare. You can think of balance sheets as a picture of the financial position of an organization at a given period in time—for example, as of December 31, 20xx. On the other hand, an activity statement or income statement will show the financial position of an organization over a longer period of time—for example, an entire month, quarter, or year (Finkler, Smith, & Calabrese, 2020).You will explore these types of statements and apply your new knowledge to the health care administration field. You will analyze specific financial statements and think about the financial health of an organization based on the statements provided. You will have several opportunities to practice your analytical skills within this assessment by exploring the concept of ratio analysis. Ratio analysis is one more way that both internal and external stakeholders can increase understanding of the financial position of an organization. Ratio analysis compares financial statement data to provide another view that may then be benchmarked, or compared, to other organizations. Some common ratio types include common size ratios, liquidity ratios, asset turnover ratios, and leverage or coverage ratios (Finkler, Smith, & Calabrese, 2020).Additionally, it is important to support your analysis with reference to relevant literature. While it is appropriate to use your textbook as part of that support, your paper should reference at least three outside articles in addition to your textbook.Demonstration of ProficiencyBy successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:Competency 1: Explain the importance of reporting in health care.Explain the financial position of Vila Health by comparing assets and liabilities.
Explain the financial position of Vila Health compared to previous years.
Explain how accounts receivable changed from previous years.
Competency 2: Develop a departmental budget.Analyze the financial obligations of Vila Health for the upcoming year.
Analyze patient revenue compared to previous years for Vila Health.
Analyze the salary and benefits compared to total expenses and the implications of this line item on the financial health of Vila Health.
Competency 3: Communicate in a manner that is scholarly, professional, and respectful of the diversity, dignity, and integrity of others and consistent with the expectations for health care professionals.Communicate in a clear and logical manner and without grammatical errors, following APA standards.
ReferenceFinkler, S. A., Smith, D. L., & Calabrese, T. D. (2020). Financial management for public, health, and not-for-profit organizations (6th ed.). Thousand Oaks, CA: CQ Press.InstructionsThis assessment has two main parts.Analysis of the Balance SheetRelevant scoring guide criteria:Explain the financial position of Vila Health by comparing assets and liabilities.
Explain the financial position of Vila Health compared to previous years.
Explain how accounts receivable changed from previous years.
Analyze the financial obligations of Vila Health for the upcoming year.
Communicate in a clear and logical manner and without grammatical errors, following APA standards.
This part of the assessment will focus on analyzing the balance sheet for St. Anthony Medical Center.Some questions to consider that may help you organize your analysis are:Do assets exceed liabilities?
What does this tell you about the financial position of St. Anthony Medical Center?
How has the financial position of St. Anthony Medical Center changed since last year?How has it changed since the year prior?
How have the accounts receivable changed from previous years and what does this tell you?
Using the balance sheet, what financial obligations does St. Anthony Medical Center need to consider in the upcoming year?
The goal of this analysis is to create an accurate picture of the financial trends for St. Anthony Medical Center, its current financial obligations, and how the upcoming fiscal year projects in light of this information.Analysis of the Income StatementRelevant scoring guide criteria:Analyze patient revenue compared to previous years for Vila Health.
Analyze the salary and benefits compared to total expenses and the implications of this line item on the financial health of Vila Health.
Communicate in a clear and logical manner and without grammatical errors, following APA standards.
This part of the assessment will focus on analyzing the income statement for St. Anthony Medical Center.Some questions to consider that may help you organize your analysis are:Has patient revenue increased or decreased from previous years?What could this indicate about the financial position of St. Anthony Medical Center?
What percentage of total expenses is due to salary and benefits?Why is this important to consider?
The goal of this analysis is to create an accurate picture of trends in patient revenue and staff compensation are tied to the overall financial health of St. Anthony Medical Center.Additional Submission RequirementsYour assessment should meet the following requirements:Structure: Include a title page and reference page when submitting your assessment.
Length: 4–6 double-spaced pages.
References: Cite at least four current scholarly or professional resources.Your textbook can be one of the four.
Format: Use current APA style for references and citations.You may wish to refer to the following APA resources to help with your structure, formatting, and style:APA Style and Format.
APA Style Paper Tutorial [DOCX] APA Style Paper Template [DOCX].
Font and font size: Times New Roman, 12 point.
SCORING GUIDEUse the scoring guide to understand how your assessment will be evaluated.VIEW SCORING GUIDE
CRITERIANON-PERFORMANCEBASICPROFICIENTDISTINGUISHEDExplain the financial position of Vila health by comparing assets and liabilities.Does not describe the assets and liabilities of Vila Health.Describes the assets and liabilities of Vila Health but does not explain the financial position of the organization.Explains the financial position of Vila health by comparing assets and liabilities.Analyzes the financial position of Vila health by comparing assets and liabilities and includes recommendations to improve the financial forecast.Explain the financial position of Vila Health compared to previous years.Does not describe the financial position of Vila Health.Describes the financial position of Vila Health but does not compare to previous years.Explains the financial position of Vila Health compared to previous years.Analyzes the financial position of Vila Health compared to previous years and includes recommendations for improvements.Explain how accounts receivable changed from previous years.Does not describe the accounts receivable.Describes the accounts receivable but does not compare to previous years.Explains how accounts receivable changed from previous years.Analyzes how the accounts receivable changed from previous years and includes recommendations to reduce the receivable and the impact to cash flow.Analyze the financial obligations of Vila Health for the upcoming year.Does not list the financial obligations of Vila Health.Lists the financial obligations of Vila Health but does not analyze the implications for the upcoming year.Analyzes the financial obligations of Vila Health for the upcoming year.Analyzes the financial obligations of Vila Health for the upcoming year and makes recommendations for improvements.Analyze patient revenue compared to previous years for Vila HealthDoes not list the patient revenue for Vila Health compared to previous years.Lists the patient revenue for Vila Health compared to previous years, but presents an incomplete or unclear analysis.Analyzes patient revenue compared to previous years for Vila Health.Analyzes patient revenue compared to previous years and synthesizes the implications of the financial health of Vila Health.Analyze the salary and benefits compared to total expenses and the implications of this line item on the financial health of Vila Health.Does not analyze the salary and benefits compared to total expenses.Analyzes the salary and benefits compared to total expenses but does not discuss the implications on the financial health of Vila Health.Analyzes the salary and benefits compared to total expenses and the implications of this line item on the financial health of Vila Health.Analyzes the salary and benefits compared to total expenses and includes recommendations to improve productivity standards to improve the financial health of Vila Health.Communicate in a clear and logical manner and without grammatical errors, following APA standards.Communicates in an unclear and illogical manner and with several grammatical errors, and does not follow APA standards.Communicates in a manner that is not very clear and logical and with some grammatical errors, and incorrectly follows APA standards.Communicates in a clear and logical manner and without grammatical errors, following APA standards.Communicates exceptionally well in a clear and logical manner and without any grammatical errors, perfectly following APA standards.
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