Accounting and Healthcare

Midweek Assignment: Accounting ProjectHealthcare organizations have formalized accounting systems that
track the financial status of the organization. Financial managers need
to perform the necessary task of compiling financial reports, which are
sets of financial statements. There are numerous tools that are
essential for understanding the financial condition of an organization.Using the readings for the week, the South University Online Library,
and the Internet, create a 3–4-page accounting project paper.Cover the following:Select a tool that is essential to the analysis of an organization’s financial status and explain it in detail.Using this tool as a template, create an application of it in an
imaginary organization. Examples include, but are not limited to,
balance sheets, operating statements, statements of changes in net
assets, statements of cash flows, total assets, liabilities, and owners’
equities.Explain the example tool in detail. One option is to use generally
accepted accounting principles (GAAP) to highlight various sections of
the tool. Another option might be to provide a detailed explanation of
fund accounting, highlighting various sections of the example. Be sure
that the tool matches the explanatory methods used.