Determining Financial Viability Research Assignment Paper

Determining Financial Viability
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Write a paper of 500-750 words that explains the relationship between finance and accounting, and how they operate to determine financial viability within a health care organization

Accounting and finance are relevant in health care organizations (HCO) to evaluate financial risk and operations (Cleverley & Cleverley 2016). Accounting is concerned with providing accurate and timely financial information, including recording the financial history and identifying financial information that improves decision making. Finance focuses on supervising resources acquired and disposed to fund operations, the finance personnel rely on accounting information, but finance managers look forward rather than backwards as accountants do (Cleverley & Cleverley, 2016). In evaluating the financial viability of health institutions, the dimensions considered are revenues and expenses, availability of resources/ capital and the ability of the organization to renew itself. This paper explains the relationship between accounting and finance, and how they determine financial viability within a health care organization.
Accounting records express a true and fair view of the financial transactions and records, and ensuring accuracy allow users to identify and use relevant accounting information when required (Cleverley & Cleverley, 2016). Financing operations and paying taxes also depend on the accounting and financial records. Health care organizations facing financial strain cannot operate effectively and provide health care services when required. Even when health care organizations might be operating efficien...