Critical Thinking and Business Decisions Essay -- GCSE Business Market

Critical Thinking and Business Decisions Our basic concept of critical thinking is, at root, simple. We could define it as the art of taking charge of your own mind. Its value is also at root simple: "if we can take charge of our own minds, we can take charge of our lives; we can improve them, bringing them under our "self-command" and direction (McCall and Kaplan, 1990)." Of course, this requires that we learn self-discipline and the art of self-examination. This involves becoming interested in how our minds work, how we can monitor, fine tune, and modify their operations for the better. It involves getting into the habit of reflectively examining our impulsive and accustomed ways of thinking and acting in every dimension of our lives and business. Many various "Forms of Thinking" affect the way we rationalize problems and situations. We could approach a problem by utilizing the forms such as in "a logical, scientific, persuasive, or creative fashion (University of Phoenix, 2000)." The way we approach a problem or situation can be and is very important. In addition, all that we do, we do based on some motivations or reasons that are forces which influence our ways of thinking. However, we rarely examine our motivations to see if they make sense. We rarely scrutinize our reasons critically to see if they are rationally justified. "Some of the forces that influence are thinking can be gender, culture, ethnicity, religion, race, economic status, ethics, etc (University of Phoenix, 2000)." As consumers, for example, we sometimes buy things impulsively and uncritically, without stopping to determine whether we really need what we are inclined to buy, whether we can afford it, whether its good for our health, or whether the price is competitive. As parents, we often respond to our children impulsively and uncritically, without stopping to determine whether our actions are consistent with how we want to act as parents, whether we are contributing to their self-esteem, whether we are discouraging them from thinking, or from taking responsibility for their own behavior. The two examples above, illustrate how we could have used a "scientific form of thinking" to come to a conclusion but the "force", whatever it may have been, that influenced that way of thinking, was very strong. The same remains true in business as it pertains to our manageria... ...en seriously, it can transform every dimension of work life: how we formulate rules, how we relate to our employees, how we encourage them to relate to each other, how we cultivate their speaking and listening skills, as well as their decision making skills. Of course, we are likely to make "Critical Thinking" a basic value in work only insofar as we make it a basic value in our lives. "Therefore, to become adept at contemplating critical thinking, we must become committed to thinking critically and reflectively about our own lives and the lives of those around us (Shermerhorn, Hunt, and Osborn, 2000)." We must become active, daily, practitioners of critical thought. We must regularly model for our employees what it is to reflectively examine, critically assess, and effectively improve the way we live and think. References Morgan W. McCall Jr. and Robert E. Kaplan, (1990). "Whatever It Takes, Realities of Managerial Decision Making," (New Jersey: Prentice Hall) Schermerhorn, Hunt, and Osborn. (2000). Organizational Behavior. 7th Ed. New York: John Wiley & Sons, Inc. University of Phoenix, (2000). Critical Thinking: Strategies in Decision Making. (Module) MGT 350.

A comprehensive protection plan

The primary objective of drawing a comprehensive protection plan is to enable an individual or an organization to survive or avoid a disaster (security threat) and therefore continue with his/her normal daily activities smoothly. To be able to achieve the above, one has to fully access the existing vulnerabilities in relations to the present, and predict future trends. As such therefore, comprehensive protection planning is tedious, complex, and requires careful and proper strategizing. In order for the plan to be relevant, both the security agent and the client have to make sure that, the plan is adhered to, up to the dot.Protection plans are not a two-month project neither is it a plan that once completed one can forget about it. The plan must be maintained, and tested regularly to gauge its efficient.Any security protection plan has to be systematic so that in the end, security threats can be avoided. The following steps need to be followed in order to come up with a comprehensive protection plan. 1) Plan description; this involves things like; (I) Pre-planning, which deals with the understanding of the immediate environment of an individual or an organization. (ii)Vulnerability assessment:- This concentrates on activities which can reduce the possibility of   a disaster occurrence.(iii) Disaster impact:- A detailed study should be carried out to determine the outcome, should a disaster occur.(iv) Definition of tasks:-this deals with the real course of action should a disaster occur(v)Plan development:-during this phase, recovery plans are tackled and clearly documented.(vi) Testing phase:-the above plan is now   put into real test so as to gauge its feasibility and if possible alternatives are evaluated.(vii)Maintenance of the plan is a very critical phase as   it determines the success of the whole plan should a security threat take place.(viii) Implementation of the plan:– this is   the most important phase of a comprehensive protection pla n since the plan will be of no use if it will not be fully implemented. As such implementation includes the following; defining the plan approach, identifying plan implementers, and modifying the plan when need be.The next step, number (2) plan objectives, which as said earlier the main objective of security protection plan is to enable an individual to survive a disaster and therefore carry on with their duties. As such, it requires critical operations trough out the course of plan. These critical operations can only be achieved by establishing of clear objectives.The objectives to any protection plan includes the following; (I) provision of safety to people incase of a disaster. (ii) Continuation with normal activities after a disaster. (iii) Minimize immediate damage and losses. (iv) Minimizing of disruption time. (V) Identify critical support incase the situations are out of control. These objectives help both the security agent and the client to be fully acquainted with the sco pe of the plan and the general security and safety procedures.Number three in this order is the plan organization and staffing. For the plan to be efficient, it needs to be effected by a number of people. Every level of the plan needs to be taken care of by professionals e.g. guards, drivers etc. initially we had said that protection planning is a tedious, complex, and labor-intensive program.This is so because it will be of no use to draw a detailed plan of action and fail to assign duties to specific people. Professionals as said earlier need to be in full time contact to execute the plan incase of a disaster happening.Lastly in this order are recourse requirements; people or organizations who have tried to develop or implement protection plans without providing the necessary recourses have been largely unsuccessful.Therefore, it is imperative that in order to successfully carry out a protection plan, the essential recourses must be employed to the maximum. Of importance also is t he regular testing of plans due to changes of time, and environment. These recourses can be divided into three categories; personnel costs, capitals costs, and on-going costs.( http://www.utoronto.ca/security/documentation/business_continuity/dis_rec_plan.htm)The above steps when followed keenly, then a comprehensive security protection plan can be drawn and successfully executed when need arises. In our contemporary society, security threats have become the order of the day and therefore there is a need to come up with protection plans to combat these threats.Some of the most areas, which are frequently affected when disaster strikes are communication networks, personal security, and transport systems. The following is a detailed plan of action to undertake in relation to communication, personal security, and transportation of a client.

Administrator Of Human Resources Interview - 2082 Words

Administrator of Human Resources Interview Introduction Steve Barrett is the Executive Director for Human Resource Operations for the Minneapolis Public Schools District. According to S. Barrett, he has worked in his current position for seven months (personal communication, January 20, 2015). Previously, Barrett worked as an adjunct professor at the Metropolitan State University for 25 months, and as an Executive Director for Employee Relations at Minneapolis public schools for 20 months. Later, he worked as the Labor Relations Director at Osseo Area Schools for three years and four months, and Labor Relations Specialist at the City of Saint Paul for six years and one month (S. Barrett, personal communication, January 20, 2015). Barrett earned his master’s degree at Hamline University, where he graduated with a Masters of Arts in Public Administration. In this report, I document the interview I had with Barrett on January 20, 2015 to discuss human resources management in the school district. What are the demographics of the district? S. Barrett explains that the Minneapolis Public Schools District has 76 schools (personal communication, January 20, 2015). The number of students is approximately 35,356. There are 11,439 White students, 13,109 African American students, Hispanics are 6,766, Asians are 2,526, American Indians are 1,479, and Pacific Islanders are 37 (S. Barrett, personal communication, January 20, 2015). Approximately 65 percent of the students benefit fromShow MoreRelatedAdministrator Of Human Resources Interview2084 Words   |  9 PagesAdministrator of Human Resources Interview Steve Barrett is the Executive Director for Human Resource Operations for the Minneapolis Public Schools District. According to S. Barrett, he has worked in his current position for seven months (personal communication, January 20, 2015). Previously, Barrett worked as an adjunct professor at the Metropolitan State University for 25 months, and as an Executive Director for Employee Relations at Minneapolis public schools for 20 months. Later, he worked asRead MoreHuman Resources Department : The Core Of Any Successful Organization Essay1700 Words   |  7 PagesThe human resources department is the core of any successful organization. Human resource management is an ever-evolving profession, and is also one of the most critical departments in any company. Human resource professionals are responsible for many of the day to day contributions of an organization such as recruitment, hiring, retention, and management of existing and new employees. They are also responsible for maintain ing and keeping track of all the different rules and regulations set forthRead MoreHr Assessment 2 Escape to the Wild1695 Words   |  7 PagesManaging Director has expressed his wish for the company to take on a more Strategic approach to the way it recruits trains and promotes its employees. To implement this new strategic approach a human resource function should be introduced. The following describes four activities the human resource function will undertake in order to support the company’s expansion and success: Recruitment Selection The purpose of recruitment and selection is to reduce the risk of poor selection and Read MoreThe Implementation Of The Staffing Process758 Words   |  4 Pagesdetailed. First, there has to be some type of organization that conducts the interview such as a committee. This committee could consist parents of children enrolled in center or preschool (who can consider if he or she feels comfortable leaving their child in the hands of the candidate), staff members (who would be working with new candidate and see if the candidate would be a team player), and director or administrator of facility. The final decision on hiring the candidate should be made clearRead MoreHealth Center At Texas State University1370 Words   |  6 PagesIntroduction This is a report of an Interview with Karen Gordon-Sosby, associate director at Texas State Student Health Center. Karen is a highly motivated professional, an experienced healthcare administrator and appears to possess inherent management and leadership skills that are quite significant and noteworthy. Her expertise in performing the indispensable task in managing and analyzing financial records, brings a unique blend of health administration and public health prowess to the healthcareRead MoreNursing And Health Services Managers894 Words   |  4 Pages(My Next Move, 2016). According to the Bureau of Labor Statistics (BLS) (2015) in order to become a nursing home administrator, one would need to sit for a state exam, to retrieve the necessary certification to become a nursing home administrator. Requirements vary state to state, while most states require a person to obtain a bachelor’s degree to sit for the nursing home administrator exam. Personality traits and skill sets that a person would need for this profession would be basic skills: readingRead MoreRoles and Values of Nursing1694 Words   |  7 Pagespaper is a comparison of the views of a BSN staff nurse and a BSN clinical administrator on various aspects of nursing roles and how they contribute to my professional development. Both of the nurses that I interviewed had obtained a BSN and worked in a hospital owned orthopedic and spine medical group. There were commonalities in several of their answers related to patient care but differences related to their roles Interview #1 The first nurse that I interviewed was a staff nurse in a physician’sRead MoreEssay on Professional Care Action Plan1534 Words   |  7 Pageshealth care organization to work at, and the knowledge gaps that exist, and professional resume. In this paper will speak on professional goals, the health care career plan to have in the health care sector, skills currently have for health care administrator health care field, skills that will need to be changed or alter. I will state plan for ultimately achieving these professional career goals, and with the information mentioned above. I will give a perception on the Professional organizations thatRead MoreActavis Pharmaceutical Company Essay1045 Words   |  5 Pagesfor me to start my career and do my research on them as well to give me an idea of how the pharmaceutical industry works. Business management is currently my major and I fore see myself working as business administrator or a human resource coordinator, with the position of contracts Administrator opened I figured this is a great opportunity for me to kick start my career in the pharmaceutical industry. With the pharmaceutical industry having a significant low employee turnover ratio due to the excellentRead MoreThe Assessment Team Administrator Should Begin The Process Of Soliciting Evaluation Team Members838 Words   |  4 PagesThe assessment team administrator should begin the process of soliciting assessment team members. Many organizations solicit members through. Their corporate newsletter, electronic mail, or a personal letter sent from the president/CEO inviting participation. Team members selections should be considered from a group of employees who have expressed an interest in better understanding homeland security and using the Baldrige Criteria as a template for improving their organization’s homeland security

Glossary of Usage Waive and Wave

The words waive and wave are  homophones: they sound alike but have different meanings. Definitions The verb waive means to voluntarily  defer, dispense with, or give up (a claim or right). The verb wave means to make a signal with the hand or to move freely back and forth. As a noun, wave refers to a ridge of water, a surge, or a rising trend. Examples Some agencies waive the collection fees on overdue student loans if they are paid in full.The retiring  ballplayer waved to the crowd, looking somber in his final moment of glory.A silent security guard in a pasty-green uniform directed us with  a careless wave  to a flapping wooden door, from which a cold, abysmal breeze steadily blew.(Larry Frolick, Grand Centaur Station.  McClelland Stewart, 2004)The boisterous sea of liberty is never without a wave.(Thomas Jefferson in a letter to Richard Rush, October 20, 1820)The singing reached Joe vaguely; he felt happy and friendly toward all the people gathered here . . .. He liked them—he loved them. Great waves of good feeling flowed through him.(F. Scott Fitzgerald, Crazy Sunday. American Mercury, 1932)[T]he crossing guard stands and winks at me daily, as dependably as a blinking light. . . . She is waving cars and people forward in waves.(Rosellen Brown, How to Win. The Massachusetts Review, 1975) Idiom Alerts Make WavesThe metaphorical expression to make waves means to create a disturbance or make trouble by doing or saying something new or different.Today, artists kicking around in political waters are more likely to  make waves  online using social media, and more likely to gain viral attention with an unexpected political quip at an opportune moment.(Joe Cascarelli, Prophets of Rage Bring Their Anger to the Republican Convention. The New York Times, July 20, 2016)Wave (Someone or Something) Off or AwayThe phrasal verb  to wave (someone or something) off or away means to dismiss or to make a signal with the hand indicating that someone or something should move away or stay at a distance.-  China once could  wave off  complaints about its currency policies, arguing that it was a developing nation entitled to a bit of slack from its Western customers.- Kipper  waved off  a security guard who seemed intent on holding them up, and accelerated past, paying no respect at all t o his frantically waving clipboard.(John Birmingham, Without Warning. Del Ray, 2009) Practice (a) A record-breaking heat _____ tightened its grip on New York City on Tuesday.(b) An  enormous  _____  crashed high on the beach, sweeping the castle into the sea.(Steven  J. Simmons,  Alice and Gretta.  Charlesbridge, 1997)(c) According to policy experts, parties may choose to _____ legal rights when public money is involved.(d) The country has recently experienced  another great _____  of immigration, the largest since the 1920s. Answers to Practice Exercises: Waive and Wave (a) A record-breaking heat  wave  tightened its grip on New York City on Tuesday.(b) An  enormous  wave  crashed high on the beach, sweeping the castle into the sea.(Steven  J. Simmons,  Alice  and  Gretta.  Charlesbridge, 1997)(c) According to policy experts, parties may choose to  waive  legal rights when public money is involved.(d) The country has recently experienced  another great  wave  of immigration, the largest since the 1920s.

Argumentative Essay Am I A Criminal - 2178 Words

Diana Gallegos Mr. Thompson English 1A 6363 04 May 2016 Am I a Criminal? Despite communities lacking sufficient affordable housing and shelter space, cities are continuing to penalize people forced to live on the streets and in public spaces and in addition include criminal penalties for violations of these laws. Instead of criminalizing the homeless and wasting millions of dollars, we should unite with advocates that are going to help protect those living on the streets and go head to head with those laws that strongly discriminate against the homeless. As human beings we can be selfish and we do not really care about matters that have little to do with our lives or affect us in a major way, which is why problems that affect us as a†¦show more content†¦It does not make any sense whatsoever to criminalize the homeless and incarcerate them. It has been proven that if we put more of our time and money into helping the homeless instead of strongly passing laws that discriminate against their human rights, not only will we save money but we can also help slowly cease the criminalization of the homeless. Furthermore, laws are criminalizing people just for being homeless and more cities are passing bans on begging, loitering, and sharing or giving away food in public places. As we start to criminalize the homeless for irrelevant reasons, the homeless end up being taken to the hospital and being arrested due to being on the streets and violating these new laws. As a community sometimes we are unaware and not properly informed of the amount it is costing us tax payers, when we could be avoiding these hefty costs by investing in proper homeless shelters and facing the issue head first instead of putting up barriers. Laws that discriminate against the homeless may not change overnight and the fact that a homeless man or woman may be incarcerated for sleeping on the street or begging for some money, but at least there will be less homeless people roaming the streets and less homeless people to discriminate upon and incarcerate. In ad dition to costing tax payers tons of money for incarcerating the homeless and

Hospital Organization Free Essays

string(48) " a number of state-based cost control programs\." Hospitals continue to be the largest segment of the health care industry, measured by economic volume and delivery of a wide range of professional services. HEALTH CARE SERVICES The different segments of the health care delivery system provide various combinations of services. The specific combination offered depends on a variety factors that prevail in a location, including state and local licensing laws, reimbursement structures, availability of medical personnel and facilities, and the demographic details (such as age and industrial distribution) of the potential patient population. We will write a custom essay sample on Hospital Organization or any similar topic only for you Order Now The unique aspect of the health care industry from an audit perspective is the health care delivery system – the revenue cycle. The other cycles are essentially similar to those in manufacturing or selling enterprises. Services are generally described by a six-level classification. Those levels indicate, but do not strictly define, the type of organization, the level of medical treatment involved, or the severity of, or prognosis for, the medical situation. The levels are: †¢Preventive – Health education and prevention programs provided by business and other organizations, such as schools and family planning clinics. Primary – Early detection and routine treatment of health problems, such as are often provided by physicians’ offices, industrial and school health units, and hospital outpatient and emergency departments.†¢Secondary – Acute care services, typically provided by medical personnel, through hospitals, using elaborate diagnostic and treatment procedures. †¢Tertiary – Highly technical services, such as for psychiatric and chronic diseases, provided through specialty facilities and teaching hospitals. †¢Restorative – Rehabilitative and follow-up acre, typically provided by home health agencie s, nursing homes, and halfway houses. Continuing – Long-term, chronic care, typically provided by geriatric day care centers and nursing homes. The growing economic magnitude of the health care system has led to increased regulatory activities focusing on health care. This increase in regulation interacts with a growing demand for more health care and for increasingly technical and complex methods of providing it. The largest and most evident regulatory activity involves reimbursement by state governments. Other regulatory activities are concerned in varying degrees with the availability and quality of health care.There are continued initiatives by state government to link such regulations to reimbursement in order to enforce compliance. The presence of multiple regulatory systems influences the demand for and the nature of professional accounting services required by health care institutions. Those systems often emphasize reporting requirements, and health care institutions tend to view compliance reporting as a major use of accounting data. Auditing services in particular are affected because the regulatory agencies rely heavily on the attest activities of the health care institution’s independent accountant.STRUCTURE AND ORGANIZATION Patient care is the essential function of a hospital. Other vital roles include medical education and research. Recently, many larger general hospitals have become total community health centers, providing a wide range of outpatient services in addition to traditional impatient care. One characteristic of the growth of the health center concept is the emergence of such diverse related organizations as real estate holding companies and medical management companies.These organizations are a response to changes in the reimbursement, regulatory, tax and financial environment facing hospital management. Such nontraditional organizational structures and patterns of activity are needed to provide adequate financial resources to support the delivery of health care by hospitals. Some observers see these changes as leading to major multihospital systems, so that in the future a few major health entities may control the majority of the hospital beds in the country. Hospitals may be classified by type of ownership and mode of operation, as follows: Government – Hospitals operated by governmental agencies and providing specialized services to specific groups and their dependents, such as the military, veterans, government employees, the indigent and the mentally ill. †¢Investor-owned (proprietary) – Hospitals owned by individual proprietors or groups of proprietors or by the public through stock ownership. The objective of such hospitals is to operate for profit. †¢Voluntary nonprofit – Hospitals operated under the sponsorship of a community, religious denomination, or other nonprofit entity.This is the largest category (in number of hospitals), comprising two major types: teaching hospitals and community hospitals. a. Teaching hospitals – Generally university-related hospitals, their health care service activities combine education, research and a broad range of sophisticated patient services. Large community hospitals affiliated with medical schools and offering intern and resident programs are also considered teaching hospitals. b. Community hospitals – Hospitals that traditionally are established to serve a specific area, such as a city, town, or county, and usually offer more limited services than teaching hospitals do.Hospitals may also be categorized by the type of care provided, as short-term (acute), general, long-term general, psychiatric, and other special care. The mode of a hospital’s operation and type of care occur in various combinations, such as government psychiatric or short-term pediatric. THIRD-PARTY REIMBURSEMENT OR PAYMENT A major difference between health care entities and commercial enterprises is that the recipient of health care services – the patient – in most cases does not pay directly for the services. Instead, payment is made by some other organization.The payment is often referred to as a â€Å"third party†. Typically, a hospital’s most significant patient revenue sources are its reimbursement contracts with third parties. In each case, there is an identifiable group of patients whose health care services are paid for, in whole or in part, by the third party. The amount of the reimbursement, as well as the eligible class of patients and other administrative matters, is covered by regulations or contracts. The major third parties are governmental agencies. Of these, the state government is the largest. Medicard is state-administered third-party reimbursement program designed to underwrite hospital costs of the medically indigent and those eligible for certain types of public welfare. Medicare is a third-party reimbursement program administered by the Health Care Financing Administration of the Department of Health and Human Services. State governments have long been involved in reimbursement for health care services, and their involvement has increased through participation in the Medicard Program. Recently, the continued growth of third-party expenditures for reimbursement has fostered a number of state-based cost control programs. You read "Hospital Organization" in category "Papers"Of increasing importance are a wide variety of controls at the state level, usually referred to by terms such as state rate control. The state government has been quite active in encouraging or supporting such programs. The impact of governmental and commercial third parties on hospital is affected by when the reimbursement or payment is determined and the basis of the reimbursement or payment. Third-party reimbursement systems are either retrospective or prospective. Retrospective refers to third-party reimbursement systems that determine the amount to be paid after the services have been performed.In prospective payment systems, the amount is determined before the services have been performed. Reimbursements or payments are usually based on either the costs (to the hospital) of services performed for eligible patients or the amounts charged by the hospital for such services. The regulations or contracts of the third party contain specific provisions designed to ensure that only certain costs or charges enter into the determination of the reimbursement or payment. There are also provisions to ensure that reimbursement or payment is made only for services to eligible patients.Third-party payers can be expected to continue to refine their approach as the volume of payments increases. The difference between the hospitals established rates for services rendered and the amounts received or receivable from third-party payers known as a contractual allowance and is shown as a deduction from gross patient revenues on the statement of revenues and expenses. PAYMENTS AND SETTLEMENTS Under many retrospective reimbursement and prospective payment contracts, the hospital is paid throughout the year on an interim basis.The payment is based on estimates of costs expected to be incurred during the year in serving patients. At the end of the fiscal year, a reimbursement report is filed with each third party, and any difference between the final cost settlements, by providing an independent basis for third-party reliance on the hospital’s accounting records. Reimbursement reports typically include cost-finding calculations that segregate direct costs by cost centers and allocate overhead costs from indirect or nonrevenue-producing centers to revenue-producing centers, us ing one of several allocation methods.Departments that provide direct patient services such as nursing, laboratory, and radiology are examples of revenue-producing centers, while support or overhead units such as laundry, dietary, and administrative services are typical nonrevenue-producing cost centers. This allocation produces an operating cost for each revenue-producing center, consisting of its direct costs plus its share of indirect costs. After all costs have been assigned to revenue-producing centers, they are apportioned to the various third-party payers. STATISTICSDepartmental activity or usage statistics are employed in most cost-finding methods used to allocate overhead costs to revenue-producing centers. Some statistics, such as square feet of space, may remain unchanged from prior years. The auditor should, however, inquire whether changes have occurred. Simple observation is helpful; a new wing, department, or floor plan means that statistics must be updated. Certain statistical information is generated by the various transaction cycles. Examples of statistics that are generated in the buying cycle are: Payroll pesos – Used to allocate employee benefits, health and welfare costs, and other compensation costs. †¢Hours worked – Used to allocate nursing administration costs and sometimes employee cafeteria costs. †¢Full-time equivalent employees (FTE) – Sometimes used to allocate employee cafeteria costs. Other statistics utilized in cost-finding and third-party reimbursement are generated by departmental activity studies and surveys. Examples of such statistics are pounds of laundry, housekeeping hours of service, social service hours, and cost of drugs and medical and surgical supplies issued to nursing stations.Medicare regulations require a study of at least four 2-week periods annually. FUND ACCOUNTING The audit guide prescribes the use of fund accounting for the external financial statements of nongovernment, not-for-profit hospitals. Fund accounting entails the maintenance of separate or group accounts for hospital resources according to the spending objectives set by donors, other outside sources, or the board of trustees. (Investor-owned hospitals are regarded as business enterprises and report as such. ) Two broad classes of funds are used: †¢Unrestricted funds, which encompass assets other than those that are restricted, as defined below.Many authorities believe that this class of funds should be referred to as general and that the term unrestricted is misleading, since restrictions other than those imposed by donors or grantors may be placed on assets of these funds. A reserve account maintained under a bond indenture provision is an example of an asset that is included in unrestricted funds but is restricted as to use. †¢Restricted funds, which encompass assets that are subject to restrictions imposed by specified external parties, that is, donors or grantors. Examples are plant replacement and endowment funds. AUDIT STRATEGY AND RISK ASSESSMENTIn many ways, the accounting systems and controls that operate in health care institutions are the same as those in any other industry. Because of regulation by governmental agencies and consumer group pressures, however audit concerns for hospital client is expanded considerably. Those concerns, fee pressures because of the nonprofit nature of many institutions, and competition among firms all create a need for this audit analysis to streamline audit procedures and improve audit efficiency as much as possible. In developing an audit strategy for a hospital engagement, the auditor had a thorough understanding of the patient mix.The geographic location of the hospital, the range of service it provides, and state regulations influence the age, financial status, and insurance coverage of the patient population. In particular, the audit strategy will vary depending on whether the services are rendered on a charge-paying or cost-reimbursement basis. If most of the hospital’s services will be paid on a cost-reimbursement basis; the propriety of costs incurred is a primary concern of the auditor. The accuracy of dep artmental revenue classification is also important in the cost apportionment process. The payment is made either directly by the patient or by third parties based on actual charges billed; auditing statistical data and departmental cost classification is deemphasized since those data do not affect revenue. In planning hospital audit, it is important to have an understanding of the hospital’s current financial position and financial trends. Analyzing financial ratios may lead to a fuller understanding of the hospital’s operations and problems than could be obtained from reviewing raw data. It is also helpful to compare the hospital’s operations and financial position with those of the other institutions.Inherent risk in considerations in the health care industry revolves around the third-party reimbursement structure. A key concern is billing procedures, which are complicated by the very significant involvement of third parties. TYPICAL TRANSACTIONS, INTERNAL CONTROLS, AND AUDIT TESTS PATIENT REVENUE CYCLE The major source of revenues in a hospital is services provided to patients. Revenue was recorded, at hospital’s established rate, on the accrual basis at the time services are performed. Patient service revenues are recorded separately by source (laboratory revenues) and by patient type (inpatient or outpatient).Additionally, the source of payment of each patient is essential information that was captured by the accounting system. Hospitals generally billed inpatients after completion of a patient’s stay in the hospital. The actual amount received by the hospital may vary depending on contractual arrangements between the hospital and the patient or a third-party payer. Services rendered to private-paying patients are billed at the established rates, except that courtesy allowances may be granted to doctors, employees, or members of religious orders and charity allowances may be granted as determined by patient needs and hospital policy.To understand the hospital’s patient revenue cycle, the auditor should become familiar with the variou s functions and departments that may serve patients and should also understand how those functions and departments relate to accounting for patient revenue. SUBSTANTIVE TESTS OF ACCOUNTS RECEIVABLE Hospital receivables have several characteristics not normally found in receivables of commercial organizations. First, full-rate charges to patients for services received may be settled for an amount less than the full rate because of contractual arrangements with third-party payers courtesy, charity, or other policy discounts.In addition, large amounts of receivables are paid by third-parties, and payment may be made by a single payer or combination of payers (e. g. , commercial insurance, Medicare, Medicard, workers’ compensation and the patient. ) Since a patient may have more than one insurer, it is possible for duplicate payments to be made on the patient’s account. This results in credit balances in accounts receivable, which are characteristic of hospitals with aggressive billing procedures. The auditor should review the components of these credit balances, and if they are significant, consider reclassifying them. Since the hospital must refund duplicate payments, the auditor should review controls over issuance and use of refund checks to determine that they are for valid credit balances and that they are payable to the proper payee. In most hospitals, accounts receivable are classified according to the patient’s billing status, generally using the following categories: †¢Inpatient:Admitted but not discharged (commonly referred to as â€Å"in-house patients†) Discharged but not billed (accounts awaiting final or â€Å"late† charges, or unbilled as a result of a backlog in billing procedures – which might indicate a control weakness) Discharged and billed †¢Outpatient: Unbilled Billed These categories of inpatients and outpatients may be expanded further to indicate private-paying status or third-party responsibility for payment. The existence and accuracy of accounts receivable are normally tested by reviewing subsequent cash receipts.The validity of admitted-but-not discharged patient receivables can be tested by comparing accounts with the daily census report or by relying on compliance tests of admitting function. Confirming balances with patients may be difficult, and the auditor should consider confirming other items, such as number of days spent in the hospital, types of insurance coverage, or, at least, the policy number and insurance company. This information confirms that the patient was in the hospital. Negative confirmations generally produce adequate results for the â€Å"self-pay† or patient portion of the bill.Typical responses for the third-party portion state that the patient believes the bill will be paid by the insurance company or that the patient is unable to confirm because of insufficient information. NONPATIENT REVENUES Revenues from sources other than patient charges consist of interest on invested funds, unrestricted gifts and grants, transfers from restricted funds, and expenditures of restricted fund assets for the benefit of unrestricted (general) funds. Audit steps for material nonpatient revenues should include, but not limited to: †¢Confirming investment activity with banks or an external trustee. Reviewing date and documents underlying gifts, grants, and bequests, such as board minutes, correspondence, and acknowledgement receipts. †¢Reviewing research or grant documentation. †¢Confirming pledges (or otherwise obtaining satisfaction as to their existence) and evaluating their collectability. BUYING CYCLE Payroll. Hospital employees may be classified as professional and nonprofessional. Examples of professional staff are registered nurses and licensed vocational nurses. Nonprofessional employees include orderlies, housekeeping and maintenance personnel, and kitchen staff.Control over both professional and nonprofessional time is critical since salary costs constitute a significant portion of hospital costs. Generally, the same payroll audit procedures used in other organizations of comparable size also apply to hospitals. Compliance testing of total payroll costs should include tests of controls over classification of costs by department, which is important for purposes of reimbursement and also for cost reporting. Misclassification of a reimbursable cost to a no reimbursable cost center could result in failure to receive reimbursement for that cost.The auditor typically reviews the appropriateness of the account distribution and traces amounts to the payroll register or distribution summaries. Those registers or summaries are tested for mathematical accuracy and then agreed to the appropriate general ledger accounts. Other Expenses. Hospital expenses are typically classified by departmental function (such as nursing services and laboratory services). Proper classification of costs by department is important for financial statement purposes as well as cost reporting and reimbursement.The auditor should test the propriety of the general ledger account distribution by reference to purchasing documentation. Fixed Assets. Controls over the acquisition of property, plant, and equipment by a hospital should be the same for a commercial enterprise. Some hospital departments own and use expensive, highly specialized equipment, such as nuclear magnetic resonance devices. Department heads should, of course, but that involved in capital budgeting and purchasing decisions, but that involvement should not extend to overriding controls that have been instituted for purchases generally. How to cite Hospital Organization, Papers

Qualities of A3 Maps for Intelligence & Planning- myassignmenthelp

Question: Discuss about theQualities of A3 Maps for Intelligence Planning. Answer: Introduction An A3 mapping is a systematic approach to solving and making decisions regarding issues of management of organizations. There are different A3 maps that may be used for this purpose. Each of these types has its own strengths and weaknesses. More specifically, the A3 map for solving problems is well defined to carry out the following roles: give a clear definition of the problem, offer education to managers on how to properly train, counsel, and provide leadership (Brooksbank, 2011). In addition, the A3 maps allow for an all-around thinking on the foundation of the Lean theory that points out that processes should be flowing and wastes minimised. Finally, it gives an empowerment to the people to implement great thinking (Buttle, 2010). Strengths of A3 Problem Solving Method The major strength of A3 maps as mentioned within the given document is that it can help to understand the requirement of the client. The given document provides the requirement of client associated with the tourism activity in Wales. From the section of delivery will it is possible to understand and the overall size of the tourism industry and the internal and external business environment. One of the major strength of the document is the ability to provide supporting theory and that can help to properly analyze the market environment of the tourism industry in Wales. The time frame is also provided that can help in proper allocation of task in definite time period. The document also provided reflection that can help in improvement of the tourism business plan. Weaknesses of the A3 Problem-Solving Method The major weakness that is associated with that of the A3 maps in the given document is due to the inability to clearly mention the objectives. In spite of the supporting theory that is mentioned there is no clear practical process that is presented within the map. The gnatt chart within the given document is also mentioned properly. Hence, the major weakness of the A3 maps is due to the fact that it is not possible to clearly rely upon the information. This is due to the unclear and disrupted information that is provided in each of the cases. Reference Brooksbank, R. (2011). Problem Solving Techniques. Management Intelligence Planning, 12(4), 10-14. https://dx.doi.org/10.1108/02634509410060695 Buttle, F. (2010). The A3 Mapping problem-solvinga practical planning tool. Long Range Planning, 18(4), 80-88. https://dx.doi.org/10.1016/0024-6301 (85)90088-3