Please answer each question on question-and-answer format.
Why are balance sheets important to healthcare organization finance and what area of the balance sheet would you consider the most critical?
• Comparing organizational costs, which costs does nursing administration have little control over and why? Which costs would be most important if you are expanding your services and considering quality improvement measures?
• Compare and contrast for-profit and not-for-profit corporate structures based on the information available from a balance sheet and an income statement? Fundamentally, what are the differences?
• Goodwill and patents are considered what types of assets? Give detailed examples and explain.
• Compare and contrast assets which are the essential economic lifeblood of a healthcare organization stability. Give detailed examples and explain.