Financial Analysis for Major Medical Center Case Study
Public Financial Management
Introduction
The paper examines the auditor’s opinion letter for Major Medical Center and Hospital Support, Inc. The report of the independent auditors seeks to instill confident on the various stakeholders. This paper also analyzes the financial statements and review notes and any concerns. Lastly, the paper will evaluate the financial statement of Major Medical Center and Hospital Support, Inc.
Auditor’s Opinion Letter
Auditing is an independent examination that is used to test the precision and completeness of information presented in a firm’s financial statement. The test enables the independent auditor or Certified Public Accountant (CPA) to give an opinion. According to Finkler, Steven A. et al. (2012), the opinion should check on whether the corporation financial statements denote its true pecuniary position and whether it has complied with the Generally Accepted Accounting Principles. The aim of auditing is to ensure that it offers an assurance to stakeholders on the true and fair view of...
Introduction
FIFO is an abbreviation of First In, First Out. It is an asset-management and assessment method that recommends using, disposing or selling of those assets that are acquired or produced first while retaining those bought last. It is can be used by a person or corporation. On the other hand, LIFO is an acronym of Last In, First Out (Finkler, S. A. et al. 2013). It is an asset-management and valuation technique that recommends using, disposing or selling of those assets that are acquired or produced last while retaining those bought first. It is can be used by a person or corporation. This paper examines the advantages and disadvantages of FIFO and LIFO inventory methods and evaluates the best inventory method for this scenario.
Advantages of using FIFO for Inventory Management
Reduce Outdated Inventory – the outdated inventory refers to the inventory that is obsolete and outdated. Thus, the inventory is not appropriate for sale or use in creation. Numerous businesses necessitate...
Explain the meaning of the variances
Introduction
Variance is the dissimilarity between a planned, budgeted, or standard cost and the definite amount incurred. The computed variance can stand for both revenue and costs. The variance aid the company in comparing their planned and the actual outcomes and the effect of the two on the performance of the firm. Further, the variance can result to either favorable or adverse variance. A favorable variance is attained when the actual performance is enhanced than projected results. An adverse/unfavorable variance occurs when the actual results are worse than the estimated results. This paper will explain the meaning of price, volume, and mix variances. The paper will consider revenues and how things turn out for the group considering aspects such as profit.
Price Variance
It is the dissimilarity between the real price that is paid by an enterprise to acquire an item and its average price, the difference is multiplied by the number of units acquired. If the result...
Case Study Mead Meals on Wheels
Introduction
The process of acquiring equipment by the Mead Meals on Wheels (MMWC) is a huge financial choice that can have an adverse effect in the operation of the company. The machine has a total cost of $ 700, 000 with a five years life span and the executive director. Therefore, there are key factors that the firm should consider before buying the machinery. The company should consider the finance, tax implications, growth plans and usage, time, and running costs. This paper will explore and present an endorsement backing the type of financial influence the development of facilities will have on MMWC.
Finance
MMWC may choose to purchase machinery or equipment to have its full ownership. However, the decision may affect their cash flows rendering the company incapable of performing other functions such as paying of employees. According to Finkler, Steven A. et al. (2013), the company can take a bank loan or enroll in an asset finance...
Explain your Budget to the County Council
PPA602 – Public Financial Management
Introduction
Capital budgeting concerns the investment of funds with expectation that it generates extra remunerations or cash-flows in the future. It entails the maximization of the limited incomes to the best investment prospect that is accessible. Further, the investments of current funds focus on long-term assets. Examples of capital budgeting decisions include acquisition of another enterprise, expansion of prevailing business, replacement and transformation of assets, research and expansion programs, and the purchase of novel long-term assets. In this case, the capital budget includes acquisition of two garbage trucks, a bulldozer, three new lawn mowers, and building an activity center.
Steps and Processes in Capital budgeting
The venture will start with an idea that develops to reality. Secondly, River County should develop the ideas from the top management but should consider the notions of the lower management (Mielcarz, P. et al. 2014). Thirdly, the experts should appraise...
Cardigan History
Date:
To:
From: [Your Name]
Re: Business Formation of Potential Cardigan Home Store
There are a number of forms of business units that one can start operating their business. Some business organizations can be formed by one person, a group of people or even by the government .They have various features as well as advantages and disadvantages. This paper shall discuss the sole proprietorship, partnership and corporations form of business units.
The sole proprietorship is a business enterprise owned by one person who is referred to as a sole proprietor .They are the most common forms of business units. This is due to the fact that they are easy to start and the owner enjoys profits alone. However, the sole proprietor suffers the losses alone (Kelly, 2012).
Its advantages are; it is easier to form since there are fewer legal formalities required to start up the business. The sole proprietor is not required to submit business tax report which saves them from additional costs on...
Global Operations Management/MGMT415
Apple Inc. is a multinational company that concentrates operations in the manufacture of a variety of technology products. The company is headquartered in California, U.S.A. Its product line can be divided in three major categories namely consumer electronics, online services and software applications. The hardware segment includes products such as personal computers, smartphones, smartwatch, iPods, and tablets. In the software segment, the company prides has developed iOS operating systems, OS X, iTunes media software, iLife, and among others. Apple Inc. delivers a number of online services such as iTunes Store, App Store, iCloud, Mac App Store, and among others. Apple has the largest revenue base compared with other information technology companies worldwide. It is also the largest in terms of the assets held. The company delivers its products and services worldwide, making it suitable for evaluation in this study.
Components of Apple’s supply chain
Apple Inc. has one of the best supply chain strategies which has earned...
Bona Fide Occupational Job Qualifications
Bona Fide Occupational Job Qualifications (BFOQs) are the employment qualifications that the law allows employers to take into consideration while making hiring and retention decisions. The law requires that the employment qualifications be concerned with an essential job duty that is a necessary part of business operation. Under the BFOQs, employers are legally allowed to hire employees based on sex, age, ethnicity, or national origin if there is sufficient proof that the aforementioned qualifications are an essential job duty or bona fide job qualifications (Beever, 2007). Although Title VII of the Civil Rights Act of 1964 prohibits the employers from making any form of discrimination against employees, the law provides exemptions where the employer is allowed to discriminate based on the nature or kind of the job. However on many occasions, exemptions are only allowed under narrow limits, and usually pertains to religion and gender of employees.
With regard to the above, CARDWARE does not...
Capital Budgeting
Capital budgeting refers to the decision making process in a firm relating to investment in long-lived assets such as new machinery, new plant, replacement of machinery, research development programs and others. Capital budgeting attempts to seek whether investing in the long-term projects will yield any benefits in the long-run. Long-term projects are those that typically take a period of more than one year. Capital budgeting helps in making crucial decisions about whether or not to invest. The decision to invest is weighed against the firm’s retained earnings, equity available, and current liability standings. Capital budgeting is a continuous process since firms occasionally seek for new investment opportunities in the environment. This paper will analyze capital budgeting with regard to the Department of Housing and Urban Development (HUD) in the United States.
Explain how the debt capacity of the U.S. governmental entity is determined
The debt capacity of firms and government entities is critical to creditors. If a firm exceeds...
Government Budgeting Process at VA
Governmental Budgeting Process refers to the decision-making process by which public resources are allocated to priority areas identified by the government. It refers to the mechanism by which a budget is created and approved. Budgeting is important since it enables the government to establish expenditure levels for various agency’s functions. Budgeting helps allocate scarce resources to various agencies and departments that help meet public demand and maximize the welfare of the citizens (Lee, Johnson, Joyce, 2008). The budget is supposed to reflect the values and meet the needs of majority of the citizens. Over the years, Governmental Budgeting Process has evolved tremendously. This has mainly been influenced by laws passed by the Congress to shape and smoothen the entire process. This paper will analyze the budgeting process with regard to United States Department of Veterans Affairs (VA).
The U.S. Department of Veteran Affairs is a state-run benefits system that is meant to cater for veterans....
