Problem:
You are the CFO for a 400-bed hospital in your community. You have been asked to present information to the local business organization on financial information and its importance to the stability of any business. You have been presented a list of questions from the group to answer in your presentation:
What is the importance of financial information to the hospital?
Who are the various users of the hospital financial information and how is the information used in healthcare decision making?
Discuss the differences between financial and managerial accounting and how each applies to healthcare facilities?