would be able to boost the earnings for that year. According to the generally accepted accounting principles‚ Excello must record the sale in accordance with the revenue recognition principle. When the transaction has been recorded correctly by the GAAP‚ the accounting department must post the sale to accounts receivable until the product has been shipped. At that time‚ the transaction is posted to earned revenue. By recording the transaction in 2010‚ Reed is deceiving internal and external users
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Individual Paper CMGT/554 – IT Infrastructure December 16‚ 2012 Patton-Fuller is a community hospital treats all kinds of concerns (Ecampus‚ 2009). They provide healthcare services designed to meet every need and any stages in life. They have providing service since 1975 and their goal is to be as pleasant in their service as possible while being productive through their many communications between all the branches of the hospital
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Hospital Computer Network The fundamental characteristics of the Patton-Fuller Community Hospital network components‚ though operational do require an immediate upgrade to permit the changes forecasted. It’s very important that I highlight the present information technology infrastructure‚ with the intent to analyze its components and capabilities‚ and make recommendations for effective technological changes. Patton-Fuller Community Hospital’s IT structure reflects a combination of seven
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and ethical decisions are intertwined at Patton-Fuller Community Hospital (PFCH) and are important to their success. The hospital‚ like many other organizations‚ identifies how it conducts business transactions and how it deals with people. Determinations or decisions within the hospital are established by accepted standards‚ which line up with PFCH’s purpose and mission and use to regulate the behavior of
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budgets‚ forecasts‚ projections and has no set rules) GAAP – Generally Accepted Account Principles (established by FASB) – Revenues are recorded when earned. Financial Statements - End product of financial accounting process liabilities and equity operations) Accounting Equation – Assets – Liabilities = Equity or Assets = Liabilities + Equity Statement Cash Flows – Credit/Debit Financial – More summarized‚ more historical (past‚ recorded) Uses GAAP Balance sheet (assets = liabilities + Equity) -
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space to hold the shipment of the product at that time. On December 30‚ 2010 Mr. Reed approached the controller Marty Fuller with his concerns about this dilemma. Marty Fuller tells Mr. Reed there are rules and regulation on accounting for sales of goods that are held for a later delivery date. The Rules and Regulations could differ according to which method was being used. Marty Fuller‚ assumed that they used the accrual method being this is the method that most corporation use. This meant that the
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HCS 405 week 1 Health Care Financial Terms Worksheet Paper Introduction The HCS 405 week 1 financial terms worksheet throws light on some of the most basic concepts of the healthcare business. Understanding health care financial terms is a prerequisite for both academic and professional success. The health care business helps the nation by providing the building blocks that the citizens need to live a successful and healthy life. The worksheet is intended to ensure that the students understand
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HCS 405 Week 2 Health Care Financial Terms Paper The theme of HCS 405 is to enable students to learn about the financial statements and other financial transactions in the hospital industry. There are various topics in HCS 405 like balance sheet‚ statement of revenues and expense‚ revenue cycle‚ payer mix and revenue. There will be five weeks in the course of HCS 405 in which the above topics will be covered. There will also be the study about the financial worksheet and reporting practices. It
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risks for each approach. The threats must be read and understood appropriately. The first approach would be about Patton Fuller Community College going through with an IPO. An IPO is also known as an Initial Public Offering. The IPO is the first stock sale is a public offering that sales shares of stocks from a company to people within the “general” public. Some of the threats that Patton Community Hospital could go through if the IPO is pronounced publically would be that the people who make large
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31‚ 2010. Of the three options the best alternative seems to be offering a discount if the customer takes the product by December 31‚ 2010. Giving discounts to a buyer is not an uncommon practice and is not an illegal practice that is defined by the GAAP or the SEC. If the product is delivered to the buyer by the December 31‚ 2010 deadline the sale will be legitimate and the $1.2 million dollars can be appropriately recorded in 2010. Transferring the product to the buyer before January in order to
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