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Financial and Management Accounting

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Question 1

The Board members requires to be provided with the information that relates to the established plans that are contained in the financial statements. This makes sure that the plans set are achieved. In case of deviations from the set plans, the board members develop a corrective action to ensure achievement of set plans. In every organization, there must be set goals that will enable the management develop a positive attitude of shareholders towards the success of the business. The success of business depends with the management ability of ensuring that the business succeeds. In the healthcare sector, the board members must have a clear picture of the goals of the organization.

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Question 2 and 3

The board members require having the accounting knowledge. This is necessary, as they will be able to compare between the set plans and actual results realized. This will help them develop a better way of dealing with the diversions. This will also help them in identifying the possible areas prone to error and frauds. They will be able to monitor financial activities in health care organization. They should also be able to set goals for the organization based on this criteron. They will be able to evaluate whether the set goals are achievable or not. 

Question 4

The bill contains information that varies depending on the parties. The most important information relates to the date of payments. The detail of the parties involved is also given. The details of the parties in the bank are contained in this bill. The information the physical address of both parties will be found in the bill. The bill will give the appropriate means required for payment and settlement. The bill will give the alternative means of payment available in case the indicated one fails.

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Question 5

In case I have sound reasons to reject the bill, I should contact my financial analyst who will submit my claim to the banks. The bank will hence make a follow up on my behalf since the bank acts as my personal agent. The bank will also come up with the required means of developing an acceptable claim. Despite this, the claims should not be done on weekly basis to avoid time wastage when following the claims.

Question 6

To avoid submitting claims that may be rejects, I would ensure that the information in these claims is accurate and consistent concerning the particular claim made. Thus, I would educate my staff on how to submit claims that will be automatically accepted without rejection. I would warn them of the penalties regarding any rejected claim. O would negotiate with the bank on the best terms to adopt in case there are any claims. This will enable the organization to have a complete check of what will be done in case of the claims. The rejected claims may create a negative impact of the organization. Care must be taken to ensure that the submitted claims meet the required standards. This will improve the image of the health care organization.

Question 7

The patients are less reluctant to speak about their health care, as they fear that their problems will not be tackled well. They also afraid that their problems might be exposed to third parties in case of killer diseases such as HIV/AIDS. Hence, they prefer to go silent. These are the main reasons for the reluctance in complaining. The medical providers can improve on the service delivery in order to encourage patients to be more open. The confidence among patients can be improved by use of open forums among the patients. This will increase their confidence greatly. 

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