Lesson 1
In this week’s lesson we will highlight how the various elements of finance fit together and finance works in the business of healthcare. The real key to understand finance is understanding the various pieces and their relationship to each other. The healthcare industry is a services industry. It is not in the business of manufacturing, its essential business is the delivery of healthcare services. It may have inventories, of medical supplies and drugs, but the inventories are necessary to service delivery.
Review the following key terms:
· Controlling
· Decision
· Financial Accounting
· Managerial Accounting
· Non-Profit Organization
· Organization Chart
· Organizing
· Planning
· Proprietary Organization
***Please provide a complete definition that shows your understanding of each of the terms. Be sure to provide examples.
Lesson 1 In this week’s lesson we will highlight how the various elements of fin
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