New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

HCA 270 Appendix E WK 6 Assignment Financial Officer Interview


HCA 270 Appendix E WK 6 Assignment Financial Officer Interview fin571

Marketplace > Kaplan University > fin571 > HCA 270 Appendix E WK 6 Assignment Financial Officer Interview

Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Purchase these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

HCA 270 Appendix E WK 6 Assignment Financial Officer Interview
Study Guide
50 ?




Popular in

Popular in Department

This 0 page Study Guide was uploaded by an elite notetaker on Tuesday November 10, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 28 views.

Similar to fin571 at Kaplan University


Reviews for HCA 270 Appendix E WK 6 Assignment Financial Officer Interview


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 11/10/15
Axia College Material Appendix E Financial Officer Interview Directions Conduct the following interview with a financial officer of a health care organization space has been provided for any additional questions you might have Once the interview has been completed answer the questions in Part II Part I Interview Questionnaire 1 Briefly describe your current position and its duties and responsibilities I work as a financial officer My duties include Budget preparation and monitoring I assist our financial department with budget planning and preparation on annual basis I also prepare different types of statements I prepare budget monitoring reports and give them to our budget managers I am also required to assist the Senior Finance Officer and provide all financial information in a very detailed report which has to be easy to read and follow 2 What are the revenue centers for your organization We have cost center services which include Medical supplies help desk customer service etc 3 What types of centers departments have budgets Revenue center has a budget which includes direct revenues and direct expenses Our supply department has an annual budget 4 How many cost centers are there Can you give some examples There are few of them like maintenance customer service etc Also rent utilities executive office and a revenue center 5 How important is it to control costs First of all it is important to stay within allowed budget so controlling the cost is what helps us to quotfunction properly 6 How are fixed costs separated from variable costs Salary costs are fixed and things such as maintenance supplies and any unexpected charges are variable 7 How are variable costs handled We have a sheet that must be filled out on a weekly basis That sheet help us to monitor expenses 8 What method of cost allocation do you use in your organization Direct allocation stepdown allocation double or multiple distribution or reciprocal What are the advantages and disadvantages of using that particular method We use stepdown allocation we allocate the cost of each cost center based on its previous statistics Capital costs include repairs of equipment etc and then employee benefits based on annual salaries This method gives us a better picture of how finances are being spend We believe stepdown cost is more accurate and it has been working for us 9 How are costs allocated What are some examples of criterion you use to determine cost allocation Sometimes we order supplies at a bundle which will cost less than if supplies were purchased separetly or we get different products or a combination which may also be used to determine cost allocation Even internet services and television waiting room can be used as a method to cost allocation 10 What happens when a service s revenues do not cover its costs We just get rid of the service because we can t cover up the expenses to provide the service 11 Has a service been discontinued because revenue did not cover its costs Yes We had few laser treatment services which had to be discontinued due to high costs of operation and pricing as whole In addition training gets very expensive as well 12 ltadditional questiongt 13 ltadditional questiongt 14 ltadditional questiongt Part II Interview Summary 1 Write a summary of your impressions Did anything surprise you What types of cost allocation criterion and methods are available to all heathcare organizations How does this particular organization deal with costs I can t say I was surprised at least because I did not know much about how company s finances are handled and everything was somewhat new to me If I had more knowledge I would probably find things that could ve surprised me Types of allocation methods which are available to heathcare organizations include direct step down double distribution and reciprocal 2 What method of cost allocation does this organization use Do you feel that this is the best method of cost allocation for this organization Why or why not They use stepdown cost allocation which I think is a little bit more difficult than direct First of all direct allocation quotignores the services of rent and utilities I do feel that stepdown allocation is the best choice for them at least because it has been working for many years All of the costs of the executive office are allocated 3 What are some examples of cost allocation criterion used by this organization Are these criterion appropriate Why or why not Ordering supplies in a bundle which allows the company to save lots of money


Buy Material

Are you sure you want to buy this material for

50 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Janice Dongeun University of Washington

"I used the money I made selling my notes & study guides to pay for spring break in Olympia, Washington...which was Sweet!"

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.