A successful executive must understand how to determine the financial position of his or her organization. This session explores the basic accounting information healthcare managers must be familiar with in order to understand their operations and manage their organizations. To understand the impact of business operations on the financial position of any organization, it is critically important for executives to understand and interpret three key financial statements: the balance sheet, the income statement and the statement of cash flows. This session teaches participants how to read and interpret these statements, and includes a capital budgeting exercise and an introduction to activity-based measurement – both of which are essential in healthcare. Healthcare-specific examples are used and current practices are explored with the coverage of each topic.
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