Posted: August 15th, 2022

Compare and contrast financial accounting and managerial accounting

• Each topic must have 2 citations with one being a scholarly source.

TOPIC 1

After reading the required background resources for this Module, compare and contrast financial accounting and managerial accounting. What are the purposes and the critical functions of each? Explain your answer in a 200-word summary, using peer-reviewed sources to support your explanations.

TOPIC 2

Many of the available consumer-driven healthcare plans (whether they are spending-account or tiered-model plans) are now categorized as high-deductible health plans. These plans are currently the fastest growing plan options on the market, growing over 25% in the past decade. Although they are low in cost, members’ willingness to access care in a high-deductible environment have brought about valid quality of care and access to care concerns.
What are the advantages and disadvantages of a high-deductible/consumer-driven health plan? How would you best explain these points to your employees if your organization were changing to this type of coverage? Explain these items in a 200-word peer-reviewed source supported analysis (vs. posting opinions). Remember to use in-text citations in your post. High-deductible health plans are now a common type of consumer-driven health plan, whether it’s a spending account plan or a tiered-model plan. These plans have grown by more than 25% in the last ten years, making them the ones with the fastest growth rate on the market. Even though they are cheap, the fact that members are willing to get care in a high-deductible setting has raised concerns about quality of care and access to care.
What are the pros and cons of a health plan with a high deductible and a focus on the consumer? How would you explain these points to your employees if your company switched to this type of coverage? Explain these things in a 200-word analysis that is based on peer-reviewed sources (vs. posting opinions). Don’t forget to put citations in your post.

TOPIC 3

In the majority of healthcare environments, so many types of expendable medical supplies are needed. You’ll have a limited amount of space to store them, and limited budgetary funds to purchase each type of them. There will be an uncertainty of who’s coming in your facility’s doors, and for what conditions they need care. You’ll make your best prediction of how many will come to your facility this year vs. last year and the year before, but those numbers won’t be exact – as demographic and economic trends can easily influence them. Given all the uncertainty in the healthcare environment (that’s not going to go away) – what is the best way to evaluate your inventory management performance? How are budgetary item shortages best safeguarded against? Explain your answers in a concise 200-word response, using peer-reviewed sources to support your points.

Topic 4

Using the required background readings and some independent research in peer-reviewed sources, please summarize one of the recent healthcare financial trends and/or new pieces of legislation that will affect future healthcare managers. Present a concise summary of the trend and/or new piece legislation, and discuss its specific financial and economic impact in 200 words. Be as specific as you can in your response, using peer-reviewed sources to support your summary (not opinions).

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