accounting

Do the following: 

This week’s assignment has 2 parts. 

PART 1: 

We live in a world filled with a host of various policies. In a departmental store, you may have noticed a 

return policy. In the healthcare industry, you will need to become familiar with financial policies. 

 

In 1 to 2 pages answer the following questions: 

 

1. What is a financial policy? 

2. What is the purpose of a financial policy? 

3. List 4 benefits of using financial policies. 

4. List 4 types of information which can be included in a financial policy. 

Use MS Word or notepad to complete your assignment. 

 

PART 2: 

Using the following information, calculate all possible practice management ratios: 

June, 2011 

# of Patients seen – 4,785 

Monthly Charges – $1,340,000 

Monthly Income – $899,000 

Total Operating Costs – $643,521 

Total Accounts Receivable – $1,650,000 

Was this practice profitable in June, 2011? 

Use MS Excel to complete your assignment.