An Introduction to Accounting and Financial Management
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An Introduction to Accounting and Financial Management
Discussion of topic one should be at least 300 words for a total of two pages. Be thoughtful, creative, and work to advance the Discussion. Discuss the process of capital investment and the importance of capital investment decisions for health care managers today. In your Discussion, use three key terms from Chapters 9 and 10 from Gapenski, L. C. (2012). Healthcare finance: An introduction to accounting and financial management. Chicago, Ill: . Then On two different paragraph give your personal opinion to Mercedes Whitted and Alicia Renville
Mercedes Whitted
Capital investment is when funds are invented into a firm or organization to gain invest and further business plan and growth (Kenton, 2011). Capital investment consists of seven steps such as: project identification, project definition, analyze the benefits (financial and non-financial), approve capital investment, implement the project, project management, and audit and report actual benefits versus assumptions (Mendrala, 2017). As a healthcare manager is it vital to review the time line to determine so the capital investment has made any improvement or decrease to business. Compounding should be done by the healthcare manager to determine the cash flow. Once the manager completes compounding it is important to perform an post-audit to see if capital investment has made any kind of improvement.
Mercedes Whitted
References
Kenton, W. (2011, July 13). Capital Investment. Retrieved January 6, 2019, from https://www.investopedia.com/terms/c/capital-investment.asp
Mendrala, J. (2017, October 16). Capital Investment Decisions – Process. Retrieved January 6, 2019, from http://magnusequipment.com/blog/2016/02/14/capital-investment-decisions-process/
Alicia Renville
I understand the process of capital investment to be investing money into your organization with the expectation of receiving a positive return of investment , which is defined in our text as the “financial attractiveness of such investments” (Gapenski, 2012, p. 312). This type of investment looks toward the financial future rather than current day-to-day profits. When making a capital investment, it could be useful to utilize a time line to see potential increase in revenue in the future.
In healthcare, capital investment decisions are well-thought out due to the fact it could end up being a very costly error. The goal of a healthcare organization is to provide high-quality care that is also cost-effective. When it comes to capital investment decision making, the healthcare manager is often part of the deciding factor.
An example of a common capital investment in healthcare would be the transition into electronic health records. In this case, they have to weigh the cons and pros of this type of large financial investment. An IT investment in healthcare often strives to improve patient care by providing better care management and reducing
overall cost. In most cases, these investments produce a great amount of financial return for the company. This leads us to another decision the healthcare manager may have to make; where are these funds now going to be used? They must make sure that the funds are allocated properly to ensure the best possible return.
After the investment has been made, you will want to review the process and outcome to analyze if the investment was indeed a positive one. One way you can do this is by using a post-audit feedback process. This will give you the necessary information you need to see if any changes need to be made.
Reference:
Gapenski, L. C. (2012). Healthcare Finance: An Introduction to Accounting and Financial Management (Vol. 5th ed). Chicago, Ill: Health Administration Press.
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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