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Financial Management of Healthcare Organizations - Coursework Example

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I would present the report on behalf of Pennypacker& Vandelay, LLC which is an accounting firm duly appointed by HCF to conduct an independent…
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Financial Management of Healthcare Organizations
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"Financial Management of Healthcare Organizations"

Download file to see previous pages The auditing criteria which we applied in the analysis were in accordance with the U.S generally acceptable auditing standards. According to the regulations, we are required to undertake the audit process so that assurance is provided to the company that no sign of material misstatement was exhibited in their financial statements. The audit considered assessment of accounting principles, the presentation of statements and the supporting evidences for the amount and disclosures as provided by the financial statements of the organization. Being a respected institution in the field, our opinion would be an asset for future financial management plan.
Under this section the analysis would show an evaluation of the general financial profile of the organization. The interpretation of the HCF data would be captured which will summarize the figures as extracted from the combined financial statements of cash flow, balance sheet, equity statement and income statement as was prior prepared by the organization.
According to figures as was posted in the balance sheet, total asset for the year 2003 was $238,365. This increased to $265,784 in 2004; $276,975 in 2005; $287,983 in 2006 and $311,140 thousand in the year 2007. Basically, the combined total resource between 2003 and 2007 experienced an increment of $72,775 thousand dollars which is an equivalent of 30.53 percent. Referring to the combined liability values, the company reported $39,458 thousands dollar of total liabilities in 2003; $51313 thousands in 2004; 44960 thousands in 2005; $41,277 in 2006 and $45,432 thousands in 2007. There was a general increase in the combined liabilities with the financial year 2003 and year 2004 reporting the highest percentage increment of 30.04 percent. The overall change in total liabilities within the period of analysis however, was slightly lower because the value declined in 2007 to ($5974 thousands) which is an ...Download file to see next pagesRead More
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