Bradmark Comprehensive Case Chapter 9 – Revenue Cycle Questions Read the Bradmark Case located in the “Bradmark Case Description” folder and answer the following questions: 1) From the case description and the associated flowcharts‚ assess Bradmark’s internal controls over its revenue cycle procedures. Bradmark Comprehensive CaseChapter 10 – Expenditure Cycle 1) From the case description and the associated flowcharts‚ assess Bradmark’s internal controls over its expenditure
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Bradmark Wholesale General Supply An ACL™ Case Study Bradmark is a wholesale general supply company that ships to business customers throughout Northeast Pennsylvania‚ New York state‚ and Southern Connecticut. Bradmark has developed a competitive edge by offering a wide variety of quality products at competitive prices. The company’s products range from paint to watering cans. Bradmark is a publicly owned company‚ whose board of directors has retained your firm to conduct the annual audit
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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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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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3. The Revenue Cycle The revenue cycle is a set of four business activities: Sales order entry‚ shipping‚ billing and cash collections. To each of these activities there are related administrative organisational activities. It is all associated with providing the goods and services of a company to their customers and collecting the payments for these sales. Information about the revenue cycle activities also flows to the other accounting cycles which are: the expenditure cycle‚ the production
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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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TEST OF CONTROLS – REVENUE TRANSACTIONS |Audit Objective |Audit procedure |Findings | |General | | | |Validity |Observe
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------------------------------------------------- Top of Form Chap 10 Revenue Cycle ANGEL AVAKIAN | Started: May 5‚ 2012 11:45 AM | Questions: 35 | | | 1. ais11r 10-2 (Points: 1) | | The revenue cycle is a recurring set of business activities and related information processing operations associated with providing goods and services to customers and collecting cash in payment for those sales. With whom is the primary external exchange of information? a. competitors
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for Revenue Cycle Management and Medical Records Overview Physician practices are being called on to do more than ever before. Today’s physicians must treat more patients‚ document interactions more meticulously‚ wrangle with more complex managed care rules‚ keep track of an ever-expanding array of drugs‚ submit and track claims and pay rising malpractice insurance bills. In many cases‚ physicians must treat 20 percent more patients than they did five years ago to generate the same revenue. In
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Case 9-4: Cost Volume Profit (CVP) Analysis and Strategy: The ALLTEL Pavilion The ALLTEL Pavilion in Raleigh‚ North Carolina is an outdoor amphitheater that provides live concerts to the public from April through October each year. The seven-month season usually hosts an average of 40 concerts with 12 year-round staff planning and managing each season. SFX Entertainment Inc. operates the pavilion. SFX is the largest diversified promoter‚ producer‚ and venue operator for live entertainment events
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