Accounting practices and principles are at the heart of financial management. To understand the financial transactions of health care organizations, it is necessary to understand the different types of accounting practices and how entries are made and items recorded using each practice.
• Write a 700- to 1,050-word paper in APA format comparing and contrasting the different types of accounting, namely accrual, cash flow, and fund accounting. Be sure to consider the following:
o How are entries made under each type of accounting?
o How does each type of accounting handle depreciation, if at all?
o How is inventory accounted for?
o Are there any differences between the organizations that adopt a particular accounting method?
o What are the strengths and weaknesses of the various types of accounting?
• Cite at least two sources other than your text.
• Post your paper as a Microsoft® Word attachment.