There are different ways in how two income statements are prepared. For example: the income statement (also known as P&L) of a merchandising company consists of Revenue‚ Expenses (related to the sales volume through the Cost of Goods Sold (COGS) and General & Administrative Expense (G&SA)‚ which all result in Net Income. The income statement of a Service company consists of Service Revenue minus any Expenses related to that service‚ which results in Net Income. Another way to look at it is that
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between accrual-basis accounting and cash-basis accounting? The variation between accrual basis accounting and cash basis accounting‚ is how cash is documented. Cash basis is an accounting basis that is used when expenses and revenue are paid out or received. This is when the transaction will be recorded. In accrual-basis accounting‚ transactions are recorded when they actually happen. Payment does not need to be made for the transaction to be recognized in accrual-basis accounting unlike cash-basis
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000 – Period costs Factory supplies used $13‚000 – Direct materials Salaries paid to sales clerks $50‚000 – Period costs (b) Explain the basic difference in accounting for product costs and period costs. Product costs are manufacturing costs‚ direct components‚ direct labor and manufacturing overhead‚ do not become expenditures until the company sells inventory. Period costs are non-manufacturing costs‚ including selling and administrative expenses. E19-8 Craig Corporation (a) Compute cost
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the principle is to have one record for one patient‚ which contains the whole medical history of this specific patient. With the development of information technology‚ Patient Information System (PIS) is becoming more and more common in the healthcare area‚ comparing to traditional paper-based patient record. PIS can include a wide range of data and information. Because of the complexity of the clinical data‚ PIS needs to be presented in a better way using visualization for physicians to actually
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What is the purpose of delegation in healthcare? HCS/350 April 30‚ 2012 Patrice Ross What is the purpose of delegation in healthcare? Delegation is defined as the transfer of responsibility for the performance of an activity from one individual to another individual. The purpose of delegation is designed to provide overarching principles and guidelines for practice situations where registered nurses delegate tasks safely to other medical teams such as LPNs (Licensed Practical Nurses)
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Communication A world without advertising Name: Veronika Líšková Course: Media Relations Group: VZME12 Term: winter School year: 2013/2014 How hard can it be to imagine and describe a world without any advertisements? It turns out that it is quite difficult to completely retrieve advertising from the Earth‚ even hypothetically‚ because besides the numerous negative aspects that advertising has‚ there are also some positive ones. The world without any advertising simply cannot
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have been reasonably accurate. However‚ direct labor has declined in importance over the years while overhead has been increasing. This suggests that there is no longer a direct link between the level of direct labor and overhead. Indeed‚ when a company automates‚ direct labor is replaced by machines; a decrease in direct labor is accompanied by an increase in overhead. This violates the assumption that overhead cost is directly proportional to direct labor. Overhead cost appears to be driven by
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years ago was very different. The following will compare and contrast the operation of a skilled nursing facility 20 years ago with the operation of Sandrock Ridge Care and Rehab now. The information systems in the workplace and how data was used 20 years ago versus how it is used now will also be identified. Finally‚ two of the major events and technoligical advantages that have influenced current Health Care Information Systems practices will be described. Compare and Contrast of Skilled Nursing
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There are two basic types of reimbursement for healthcare related costs that are in use today: fee for service (FFS)‚ and capitation. The FFS model can then be broken down into three separate sub-types: cost-based‚ charge-based and prospective payment (Gapenski‚ 2012). The FFS model pays according to the service provided‚ whether it is an office visit‚ procedure‚ etc.‚ though the amount reimbursed depends on the subtype of fee for service model. In the cost based system‚ the payer reimburses
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To truly understand the importance of interprofessionalism one must experience it first hand‚ and witness how much of a greater impact multiple disciplines‚ working simultaneously towards the same goal‚ can make in that patients life. Another great aspect of interprofessionalism in patient-centered care is that it allows people from different professions to
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