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Alex
Alex, Bachelor's Degree
Category: Business and Finance Homework
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Experience:  BS in Business Administration with honors. Able to assist in many business related courses.
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Relationship between finance and accounting, and how they operate

Resolved Question:

Relationship between finance and accounting, and how they operate to determine financial viability within a health care organization.
Submitted: 10 months ago.
Category: Business and Finance Homework
Expert:  Alex replied 10 months ago.

Alex :

Hi, welcome to JustAnswer. Can you provide: 1. the name of the class 2. the due date and 3. the required word count?

Alex :

Thanks, Alex

Customer:

Yes. Between 550 and 800,

Customer:

When will expert get back online?

Alex : Hi. I can give you 500 words. When is it due?
Customer:

tomorrow morning.

Alex : Ok. Give me about an hour. I'll enable the rating button.
Alex : That work?
Customer:

Ok.

Alex : Ok. Touch base then. Thanks.
Customer:

No answer yet. Waited for more than 2 hours and went to bed. Just got up.

Expert:  Alex replied 10 months ago.
Our chat has ended, but you can still continue to ask me questions here until you are satisfied with your answer. Come back to this page to view our conversation and any other new information.

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If you haven’t already done so, please rate your answer above. Or, you can reply to me using the box below.
Expert:  Alex replied 10 months ago.
Hi, all set with your answer of 531 words. Your answer is 100% original and can be downloaded from the following link: http://ge.tt/7hI0TYt/v/0?c

Please remember to rate my answer as I only receive commission on what you have paid when you provide a positive rating. Respond back if you have questions and feel free to request me personally in the future.

Thanks
Alex
Expert:  Alex replied 10 months ago.

Hi, I actually posted back within 58 minutes. See the info above. It looks like your browser timed out and you had to refresh. Here is the link again:

 

http://ge.tt/7hI0TYt/v/0?c

 

Thanks

Alex

 

Customer: replied 10 months ago.


Unable to open link to answer.


Please, help.


Thanks.

Expert:  Alex replied 10 months ago.
Sure. Just a moment.
Expert:  Alex replied 10 months ago.
Here is the full text. Please remember to rate if satisfied. Sorry about the confusion last night.

​Finance and accounting are both related to the use and deployment of capital within an organization but there are clear distinctions between the two relative to how they are used. Both finance and accounting are critical for any organization to be successful in the long term. To better understand how the two are related one must first look at what makes each unique. First, finance is related to how capital is raised and utilized within an organization. This includes things such as funding of the organization and the means by which those finances are obtained. The number of paths to finance an organization are many and involve everything from existing capital assets to debt financing to obtaining credit in the open market via the stock market. All of these are viable options in order to fund the operations of the organization and are each useful depending on the circumstance of the organization as well as the overall financial position of the organization. In a sense finance can be described as obtaining capital to fund both new and existing operations within the organization. Accounting however is quite different as it seeks to define how the money that is obtained via financing is both managed and spent. Financing typically handles the allocation of funds but accounting is designed to provide an accurate and complete record of the funds and how they were utilized by the organization. Doing so is not simply required for a clear picture of the overall organizations financial health but in many cases it is required and companies report on their financial position using Generally Accepted Accounting Principles or GAAP. GAAP provides a framework for organizations to utilize to report on the status of the corporate financing in a way that provides investors with a view of the organization relative to others in the industry which can be used to drive investment decisions by banks, lenders and even individual investors depending on how the organization is financed. Accounting is best described as a record of the company’s past financial performance and in many cases can be used to derive potential future financial positions. Within a healthcare organization specifically both finance and accounting are critical. Many healthcare organizations fund new equipment and technology utilizing financing obtained from a number of different markets. In most cases the only way for a healthcare organization to obtain funding for new capital improvements is by financing the purchase of such equipment. This financing will in turn be accounted for using accounting and can also be used to determine how successful the financing of those assets were based on common available financial ratios. As companies expand they have to find a way to fund both ongoing operations as well as new equipment. In the case of some healthcare organizations there may be times when capital is available and other times when loans are need to bridge the gap between profitability and non-profitability. The goal of the finance person is to find funds to ensure the company is well-capitalized and can continue to operate while the goal of the account is to provide an accurate record of the financial expenditures and financial position of the overall organization.


Thanks
Alex
Alex, Bachelor's Degree
Satisfied Customers: 2595
Experience: BS in Business Administration with honors. Able to assist in many business related courses.
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