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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

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Relationship between finance and accounting, and how they operate to determine financial viability within a health care organization.

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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


Yes. Between 550 and 800,


When will expert get back online?

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

tomorrow morning.

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

Hi, all set with your answer of 531 words. Your answer is 100% original and can be downloaded from the following link:

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Customer: replied 3 years ago.

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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.

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