...Financial Data Analysis Sharon M Flemming HCS 577 July 8, 2013 Dr. Patricia Jenkins Financial Data Analysis Financial management is an important aspect of health care financing. Whether for a hospital, medical group, or home care agency, long-term or short-term finance, maintaining accurate asset management records could mean the difference in failure or success for many organizations. The purpose of this assignment is to compare financial data for two consecutive years for Patton-Fuller Community Hospital from the 2008 and 2009 Balance sheets and Revenue and Expense sheets, and to identify significant changes between the years. I will also attempt to provide possible explanations for those changes based upon information provided within the Annual Report for that hospital. Patton-Fuller Community Hospital Financial Statements 2008-2009 Patton-Fuller Community Hospital (PFCH) is a large full service hospital providing cutting-edge medical care to Kelsey and the Northwest Valley since 1975. This is a physician owned organization with a fourteen member governing board in which each member with exception of the Chief Executive Officer (CEO) and the Chief Financial Officer (CFO) have equal voting rights. Each member serves a three-year term and elections are held each December, at which time four new members are voted in by the shareholders and profits are distributed among the owners (Apollo Group, Inc., 2013). According to the 2009 Annual Report the CFO indicates that...
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...Financial Data Analysis A financial data analysis “provides a great deal of important information regarding financial condition, it often fails to provide much insight into the operational causes of that condition” (Gapenski, 2008, p. 561). Financial data analysis identifies an organizations strengths and weaknesses by proving the relationship among items of a profit and loss account and a balance sheet. Numerous techniques or systems are used in analyzing financial statements. One such technique is comparative analysis. Comparative analysis “identifies new trends when data or ratios for a specific item from multiple time frames are presented alongside of each for a straight across comparison” (Investor Words, 2014, para. 1). This method can also be used to compare outcomes of alternate solutions or processes applied in similar situations. Other methods for analyzing financial data include “schedule of changes in working capital, common size percentages, funds analysis, trend analysis, and ratios analysis” (Accounting for Management, 2014, para. 3). The Patton-Fuller Community Hospital: Financial Analysis At first glance of the Patton-Fuller Health Care Organization one would assume this organization is viable. This would be due in part to a recent upgrade in operations. The balance sheet of December 31 2009-2008 reflects an increase of revenue. In addition to the increase of revenue, some expenses were also increased. It has yet to be determined if these increase were due...
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...Financial Data Analysis Patton-Fuller Community Hospital is a for-profit hospital that is owned by the physicians who currently works at the facility. Patton-Fuller was established in 1975 and has since provided innovative care to the surrounding communities of Kelsey. The key to this hospital's success is quality patient care and as shareholders their mission was to provide the best care to their patients (University of Phoenix, 2014). Patton-Fuller Community Hospital has been doing so well they were able to expand to an 600-bed, full-service facility. The hospital is directed by 14 board members, which consist of 12 physicians, the Chief Executive Officer and the Chief Financial Officer (University of Phoenix, 2014). The physicians are the only board members allowed to make any votes. Physicians would only serve 3-year terms, and four new members would come aboard every year in December during the annual shareholder meeting (University of Phoenix, 2014). Additional to the annual shareholder meeting, profits are dispersed to the physicians. Patton-Fuller Community Hospital made 80% of their revenue through inpatient services, which includes surgery, medical-surgical nursing, and intensive care unit. As 20% of their revenue made through outpatient services, the emergency department and other outpatient services (University of Phoenix, 2014). In the review of the financial statements, many events have occurred between the years of 2008-2009. Davis Geach, Chief Executive...
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...Financial Data Analysis HCS/577 July 14, 2014 Financial Data Analysis Patton - Fuller Community Hospital | Balance Sheet as of December 31 | 2009 and 2008 | (In thousands) | (Audited) | 2009 | 2008 | Assets | Current Assets | Cash and Cash Equivalents | $22,995 | $41,851 | Assets of Limited Use | $27,594 | $41,851 | Patient Accounts Receivable (1) | $58,787 | $37,666 | (net of Allowance for Bad Debts 2009: $11,757 / 2008: $7,533) | Other Receivables (3rd party payer settlements | - | $87 | Inventories | $18,396 | $8,370 | Prepaid Expenses | $95 | $201 | Total Current Assets | $127,867 | $130,026 | Other Assets | Funded Depreciation | $137,970 | $167,404 | Held under Bond Indenture | $73,584 | $75,332 | Property, Plant and Equipment, net | $248,346 | $175,774 | Total Assets | $587,767 | $548,535 | Liabilities and Equity | Current Liabilities | Current portion of long-term debt | $14,599 | $4,185 | Accounts payable, accrued expenses | $9,198 | $4,185 | Bond interest payable | $10 | $10 | Total Current Liabilities | $23,807 | $8,380 | Other Liabilities | Long term debt | $452,945 | $209,255 | less: current portion of long term debt | $14,599 | $4,185 | Net long term debt | $438,346 | $205,069 | Total Liabilities | $462,153 | $213,450 | Patton - Fuller Community Hospital | Statement of Revenue and Expense | 2009 and 2008 | (In...
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...MANAGEMENT INFORMATION REPORT PERFORMANCE OF THE WAGE BILL FOR THE PERIOD JANUARY TO DECEMBER 2010 1. General: The attached analysis shows actual performance of the wage bill for the period January to December 2010. The total actual payroll cost incurred during the period under review amounted to Le541.511 billion. The profiles indicate the expenditure pattern for MDAs, Teachers, Police, Foreign Missions, the Military, Salary Grants, Pensions/Gratuities and Government contributions to Social Security on a monthly basis. The total wage bill expended in 2010 compares unfavourably with the annual total projection of Le514.974 billion. The deficit of Le26.537 billion (representing 5.15% over the annual projection) was mainly due to excess expenditure as follows: * Pensions, Gratuity and other Retirement Benefits: Actual expenditure amounted to Le34.737 billion that is Le9.237 billion or 36.22% excess of the 2010 projection (Le25.500 billion). This was largely attributed to payment of arrears during the year. * Government’s Contribution to Social Secruity: Actual expenditure was Le34.674 billion which was Le3.568 billion or 11.47% more that what was projected (Le31.106 billion) for the financial year. The implementation of the free health care programme which resulted in the introduction of new salary structure for health workers largely triggered the rise in total payment made to NASSIT. * Teachers: Total actual expenditure for teachers amounted to Le164.874 billion...
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...Financial Data Analysis HCS/577 Financial Data Analysis Patton-Fuller Community Hospital (PFCH) is a for-profit health care provider for the Northwest Valley area. The hospital opened in 1975 and owned by the physicians practicing at the facility, PFCH is dedicated to providing cutting edge services with high quality patient care. Currently, the 600 bed facility received a majority of its revenue (80%) through in-patient services including surgical care, nurse services, both medical and surgical as well as their Intensive Care Unit (ICU). The remaining 20% of revenue is gained through Emergency Department visits and additional out-patient care. The remainder of this paper will determine the variances between the 2008 and 2009 fiscal year in attempts to determine where major gains and losses can be seen within Patton-Fuller’s financial environment. Variances between 2008 and 2009: The first area analyzed for variances between the 2008 and 2009 operating years, was the assets of Patton-Fuller Community Hospital. With both the stock market and real estate industries reeling during this most recent economic downturn, the return on these types of investments is much lower in 2009 than in 2008. Cash and Cash equivalents saw a depreciation of 45% going from $41,000,000 in 2008 to $22,000,000 in 2009. Based on long-term investment options, future projections estimate that this loss will ultimately be negligible as the stock market begins to rebound. Additionally, with...
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...1.0 INTRODUCTION This dissertation is based on a critical evaluation of training policies and procedures at The Maritime Financial Group South Branch- Training, Marketing and Sales service. This company was chosen because of its vast training of its workforce as compared to other companies within the region and always rises above other branches throughout the country annually and employs thirty five persons. This dissertation will give me the researcher the opportunity to define its objectives, compare pertinent theoretical frameworks and employ a methodology to attain the relevant information needed in order to analyze the findings and construct suitable recommendations. 1 1.1 CHOICE OF TOPIC This topic is chosen for many profound reasons. These consist of: It is a major factor in many organizations worldwide. Organizations now seek to have a well- trained workforce to gain competitive advantage in the market place and be profitable. I the researcher want to get hands-on experience in researching the topic as it is a field of interest. This will provide me with knowledge and understanding of the efficacy of training within companies. Training seems to be very dominant in many organizations. It is something that is pushing organizations upwards. Therefore the knowledge of training will be beneficial for the researcher’s future plans in becoming an entrepreneur. With established training theories, the research will experience growth in this chosen area of study...
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...OBJECTIVES TO BE ADDRESSED .............................................. 5 4. CRITICAL ANALYSIS OF THE METHODS ...................................................................... 6 5. RESULTS AND DISCUSSION ....................................................................................... 8 6. IMPLICATIONS FOR THE BUSINESS DECISION OR PROBLEM ........................................... 10 7. ETHICAL ISSUES .................................................................................................... 11 8. REFERENCES......................................................................................................... 13 9. APPENDIX ............................................................................................................ 14 The Learning Business Research Report | Campus: 10. 1 CHECKLIST OF ASSESSMENT CRITERIA .................................................................. 18 The Learning Business Research Report 1. Executive Summary This report discusses the rationale behind strategic decision taken by Royal bank of Scotland (RBS) in moving its headquarters from Glasglow to Leeds, Yorkshire. The benefits of financial clustering in the UK have been analyzed and assessed on the basis of theoretical evidences collected from literature review and qualitative data collected. There is an emphasis on financial information...
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...in accounting are professionals which directly deal with financial matters and especially in cost control and budgeting. Controllers use statistics software to analyze and interpret data that helps them to make strategic and short term decisions. Question#2.a There are many issues related to controllers while making decisions on the basis of available data. Budget forecasting is very important for controllers because this tool is used to control costs and increase revenue. Deviation of budget from actual or real budget is primary issue and controllers strive hard to minimize deviations from mean. At the start of financial year, controllers are asked to prepare budget for the complete year through using realistic approach. Deviation in the budget occurs due to sensitivity of variables. Probability is very useful and important technique used in the forecasting process. Controllers use statistics and probability technique to reduce uncertainty and variance in the data. Although probability is very useful in the forecasting but when controllers inaccurately assign probability weightage to the variables then decision will not be accurate. b. There are many variables in the data file which are analyzed in different manners and through accurate analyses these variables can make decisions more accurate and meaningful. We have selected two variable which are growth and interest rate. When controllers analyze financial statements such as income statement and balance sheet they...
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...IS5111:Integration of IS & Business Business Intelligence and Analytics Abhishek Kumar Singh Anbarasan Thangapalam R Deepak Chattani Naadiya Danapal Ram Vibhakar S [A0120022] [A0119959] [A0119975] [A0119961] [A0120054] A Case study on Business Intelligent and Analytics Systems in NTUC FairPrice Table of Contents Executive Summary ............................................................................................................................. 3 Acknowledgments ............................................................................................................................... 4 1. Introduction ...................................................................................................................................... 5 2. Business Intelligence in Retail Industry: ................................................................................. 6 3. Combining BI in CRM ...................................................................................................................... 7 3.1 Analytical CRM ..........................
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...industry ABC is classified as one of the strongest players among the Non Banking Financial Institutions (NBFI’s) in Sri Lanka. The NBFI’s can once again be categorized into two main sectors and they are the Licensed Finance Companies (LFC’s) and the Specialized Leasing Companies (SLC’s) such as ABC. The NBFI sector in Sri Lanka consists of 48 LFC’s and 8 SLC’s as at2014. The total market of the Non Banking Financial institutions in Sri Lanka, it can be interpreted that the portfolio is divided into three major markets and mainly classified as Finance Leasing, Hire Purchase, Secured Loans and Advances. 1.2 Introduction to the Company “ABC Finance Company PLC is one of the most stable and reputed financial institutions in Sri Lanka”. The life time of the company spans over a period of nearly six decades and has served to add value and positively impact the lives of all its stakeholders. ABC Finance Company PLC (herein after referred to as ABC) started operations as a private limited liability company in the hill capital, Kandy in the year 1967. ABC is among the top 35 corporate entities in Sri Lanka consecutively for the last 12 years. As per the annual report of the company for the year 2014/2015, currently ABC employs 1244 employees, has a distribution reach of 87 branches and serves 124,917 customers. The core business of ABC is the finance leasing business whereas they also provide financial services like hire purchase, operational leasing, small and medium enterprise. ...
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...2. Spreadsheet Errors: What we think we can do What we know? 1. What are the leading causes of Spreadsheet errors? The leading causes of spreadsheet errors are a) Human incapability of doing complex cognitive tasks with accuracy, this is a limitation in human capability and this contributes partly to the errors that are caused in spreadsheets b) Lack of disciplined development practices is one of the most common reasons why spreadsheet contains errors. Many organization has policies in general about end user development in general, much less spreadsheet development c) Many developers build the models and hardwire it to one end result they are working without considering the constraints or different possible scenarios. This ultimately leads to the fact that the model doesn’t work for any other input variables other than the one that is being used to. d) Another common reason of spreadsheet errors is due to the overconfidence of the developers in the accuracy of the spreadsheets. They don’t spend time to test the spreadsheet for any possible errors e) We could also say innocence (in a sense of not knowing the excel capabilities) as one of the common reasons why spreadsheets has errors, people tend to learn from friends and coworkers without any proper training on Excel and its capabilities which ultimately lead in unstructured spreadsheet development 2. Why these errors are typically not detected? a) Primary...
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...EHR/CPOE Implementation Executive Summary This thesis follows the implementation of Computerized Patient Order Entry/Electronic Health Record (CPOE/EHR) system implemented by Partners Healthcare System (PHS) during 2002-2003 for all its constituent practitioners. It looks at the problems faced during implementation of the system and identifies new potential problems that the system may encounter. Particularly in consideration is the effort it takes to convince healthcare professionals to switch to CPOE/EHR, the cost of installing the system, the potential of automating redundancies in the system and the potential of healthcare professionals getting skewed data out of the system suggestions. It looks at the management challenges faced by the administration when bringing about CPOE/EHR to PHS and divulges in some techniques that were used for tackling these issues. It defines ways in which the system is being used to improve patient healthcare and save millions of dollars for the government, healthcare facilities and patients alike. This thesis also finds ways to combat the potential problems that may arise later and the system and looks at related government policies and statutes which apply to the implementation. Finally some metrics of success are discussed their effectiveness in driving a result. Problem Definition CPOE/EHR Implementation can face a host of problems that can hinder the process flow and the acceptability of the system by the people involved. The initial...
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...doing this is by evaluating the consequences of each choice. Tradeoffs If you got this far without a solution, it’s probably because your decision is really tricky. It also means that it has conflicting objectives — and that you’ll need to consider some hard tradeoffs between them. Week 3 Data Quality Issues When transferring data from one program to another (ie from Excel to Access), you need to consider the following: * Uniformity (data has transferred in the same manner for all records in a file). * Version (ensure format of original data and variables has not changed when data was transformed). * Completeness check (all records are transferred in the file). * Conformity check (does data look right?). * Spot check (trace some records back to their source file eg. 10 random records to see they have transferred correctly). Cleaning Data One of first and most important steps in data analysis is to verify that your data values are correct, or conform to a set of rules. * For example a variable called Gender would be expected to have only 2 values (M or F). * You need to consider the variables and their values firstly to see they are appropriate for the data they contain. * MS Access and SAS have a number of ways you can use to check for...
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...the financial analyst role there will be a BAPI based web service that assists the analyst in performing a detailed cost analysis. Ideally the BAPI will be able to pull major cost centers throughout the organization which will give the analyst an estimate of the expenses generated along with their breakdown 2) Also part of the role would be a web service that returns a financial position summary with current assets, liabilities of the organization credit ratings of vendors. All the above information can be looked at by month, by year or by department. This data gives the analyst valuable information of the company’s current standing compared to where it envisions being. 3) Analytical capabilities of SAP’s HANA which processes years’ worth of data in a matter of seconds will also be an integral part of the finance role. Maintaining cash flow is essential to keep the organization functioning on a daily basis. Data analytics can be used to conduct “Variance Analysis” which is a comparison of projected cash flow against actual cash flow. Such a comparison over different periods gives a financial analyst vital insight about cash flow requirements and helps him better anticipate times when greater cash flow is needed, for example purchasing bulk material, handing out bonuses. 4) i-Views containing SAP services will assist the financial analyst to view detailed reports before they are published. Access to these reports helps the analyst ensure that all financial reports...
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