Accounts payable definition. Balance sheet accounts.
Inventory cost flow methods – definitions, advantages, disadvantages.
Units of production depreciation method – advantages and disadvantages. How to calculate units of production depreciation. Pros and cons of method.
The need of third-party payers. Role of third-party payers in the healthcare world.
Sum years’ digits depreciation definition – advantages, disadvantages. Depreciation expense, calculation of depreciation.
Straight-line depreciation definition - main advantages and disadvantages. Depreciation expense, salvage value explained.
Salary definition. Employees work compensation. Gross earnings vs net pay.
Importance of third-party payers in healthcare organizations. How third-party payers affect healthcare.
Disadvantages of using third-party services in healthcare organizations. Impact of third-party payers on healthcare - cons.
Impact of third-party payers on healthcare. Healthcare finance basics. Advantages of using third-party services in healthcare.
Last-in first-out inventory cost flow method. LIFO –definition, advantages, disadvantages.
First-in first-out inventory cost flow method. FIFO – definition, advantages, disadvantages