HLTH 8401 Week 7 Assignment: Developing Financial Statements
This Assignment aligns to the NCHL domain of Health System Awareness & Business Literacy. Specifically, it focuses on the first level of the Financial Skills Competency: “Explains the Organization’s Financial Metrics and Reports.” For more information on how this icon aligns to the NCHL Health Leadership Competency Model 3.0, refer to the MHA Iconography page.
Note: Your Instructor will post the document for this Assignment by Monday of Week 7 in the Announcements.
All organizations, including those in the healthcare industry, need to make money to be profitable and survive. Financial statements, such as balance sheets, profit and loss statements, and cash flow statements summarize an organization’s profitability and overall financial status. For this Assignment, you practice developing three key financial statements using data from a medical center.
Resources
Be sure to review the Learning Resources before completing this activity.
To prepare for this Assignment:
- Review the Week 7 Assignment document provided to you by the Instructor in the Announcements. Examine the data from the medical center described in the document. Reflect on how you will use this data to develop a balance sheet, profit and loss statement (statement of operations), and cash flow statement (statement of changes in net assets). Refer to the course text for additional guidance.
- Download the Week 7 Financial Statement Excel Template.
By Sunday
Submit the following:
- Complete a balance sheet, profit and loss statement (statement of operations), and cash flow statement (statement of changes in net assets) using the “Week 7 Financial Statement Excel Template.”
Refer to the Week 7 Assignment Rubric for specific grading elements and criteria. Your Instructor will use this grading rubric to assess your work.
submission information
Before submitting your final assignment, you can check your draft for authenticity. To check your draft, access the Turnitin Drafts from the Start Here area.
- To submit your completed assignment, save your Assignment as WK7Assgn_LastName_FirstInitial
- Then, click on Start Assignment near the top of the page.
- Next, click on Upload File and select Submit Assignment for review.
SOLUTION HLTH 8401 Week 7 Assignment: Developing Financial Statements
| Cash Flow Statement | |
| Statement of Changes in Net Assets (in ‘000s) | |
| For the Year Ended September 30, 2023 | |
| 9/30/2023 | |
| Unrestricted net assets | |
| Excess of revenues over expenses | 7,300 |
| Unrestricted contributions | 0 |
| Transfer to parent corporation | (3,300) |
| Change in unrestricted net assets | 4,000 |
| Temporarily restricted net assets | |
| Net assets released from temporary restriction | (3,300) |
| Change in temporarily restricted net assets | (3,300) |
| Permanently restricted net assets | |
| 0 | |
| Change in permanently restricted net assets | 0 |
| Increase in net assets | 700 |
| Beginning balance, net assets | 177,600 |
| Ending balance, total net assets | $178,300 |
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