Chapter 4 The Revenue Cycle Objectives for Chapter 4 • Tasks performed in the revenue cycle‚ regardless of the technology used • The functional departments involved in revenue cycle activities and the flow of revenue transactions through the organization • The documents‚ journals‚ and accounts that provide audit trails‚ promote the maintenance of records‚ support decision making‚ and sustain financial reporting • Risks associated with the revenue cycle and the controls that reduce these risks
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The Accounting Cycle Five Cycles of Accounting The accounting cycle consists of five components: revenue‚ expenditures‚ financing‚ conversion‚ and fixed assets (Bagranoff‚ Simkin‚ & Strand‚ 2008). There are many business activities within a company that will take place in each of these cycles. The revenue cycle incorporates sales and cash receipts. Expenditures are the decrease in cash assets to acquire goods or services necessary to operate. The conversion cycle is a continual process that
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Engagement Letter Apollo Shoes‚ This letter is to confirm our understanding of the terms and objectives of our engagement and the nature of the services we will provide. We will audit the consolidated balance sheet of Apollo Shoes as of year end 2007‚ and the related consolidated statements of operations‚ retained earnings‚ and cash flows. The objective of our audit is the expression of an opinion about whether your consolidated financial statements are fairly presented‚ in all material
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drawbacks of efficiency loss‚ the team added value to the design by creatively using hydraulic components in various configurations. Requirement For Hydraulic Cycle Hydraulic Pump Hydraulic Gear Motor Hydraulic Fluid Hydraulic Hose Tank Frame Seat Wheels Tires Tire Tubes Disc Brakes Smooth Elbow Hydraulic Fittings Flow Control Valve Check Valve Accumulator Function Of The Parts Accumulator The accumulator is the sole energy
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LOGISTICS CYCLE Therefore the emphasis is on designing the logistics management information system and inventory management activities‚ rather than central-level activities such as quantification and procurement. However‚ as the logistics cycle demonstrates‚ all these functions are interrelated and so when the logistics system is designed‚ these other activities must be considered‚ such as ensuring that the data required for quantification are collected and that quality monitoring is incorporated
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Revenue Cycle Education Improvement Strategies Presented by: Colleen Malmgren‚ MS‚ RHIA Fairview Health Services cmalmgrl @fairview.org Definition of Revenue Cycle All administrative and clinical functions that contribute to the capture‚ management and collection of patient service revenue *HFMA Scheduling/Registration Health Info Mgmt Case Management Pt Financial Srvcs Charge Capture Revenue Audit Chargemaster Establish Performance Indicators Establish measures that go beyond Accounts receivable
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Dear Mr. Smith‚ This letter confirms our understanding of the arrangements for our audit of the financial statements of Apollo Shoes‚ for the year ending December 31‚ 2012. We will audit Apollo Shoe’s balance sheet as of 12/31/2012‚ along with the related income statement‚ statement of retained earnings‚ and statement of cash flows for the entire year of 2012. We will provide a professional opinion based on the information found in the audit. All of the financial statements will be the responsibility
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Each Hype Cycle drills down into the five key phases of a technology’s life cycle. 1. Technology Trigger: A potential technology breakthrough kicks things off. Early proof-of-concept stories and media interest trigger significant publicity. Often no usable products exist and commercial viability is unproven. 2. Peak of Inflated Expectations: Early publicity produces a number of success stories—often accompanied by scores of failures. Some companies take action; many do not. 3. Trough of Disillusionment:
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OPERATING CYCLE The way working capital moves around the business is modeled by the working capital cycle.This shows the cash coming into the business‚what happens to it while the business has it and then where it goes.the term operating cycle otherwise known as “cash cycle”.In order to earn sufficient profits‚a firm has to depend on its sales activities apart from others.The continuing flow from cash to suppliers‚to investors‚to debtors and back in cash.The time gap is technically termed as
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CHAPTER ONE INTRODUCTION 1.0 BACKGROUND OF THE STUDY Menstrual cycle is a process experienced by every female at one point in their life cycle. In the olden days a young lady experiences her first menstruation in her late teens or early twenties. In recent times‚ however‚ some begin their menstrual cycle as early as nine years. The age at menarche (the first time a girl or a young woman menstruates) is widely considered as an important landmark in sexual maturity. However it varies widely between
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