Write a paper the responses to the items noted below. The paper can include other outside references, including the assigned textbook.

Operational Basics for Financial Management

Overview

This section will review the details of operationalizing the healthcare finance information in an assisted living operation. The information will review:
*Financial Records
*Accounts Receivable
*Accounts Payable
*Risk Management

Reading:
Gapenski’s Textbook:
Chapter 7 – pages 184 – 205
Chapter 11 – pages 319 – 344
Chapter 12 – pages 350 – 377
Chapter 13 – pages 382 – 400
Instructor’s Notes:
YouTube Video:
Can You Pay for Assisted Living with Medicaid and Medicare (Web view)

https://www.youtube.com/watch?v=WJvRgcXc4GU (Web view)

Optional Reading:
Chapter 4 (pages 119 – 125) (127 – 130)“The Health Services Executive (HSE) – Olson, DM; Knapp, KR (2020)
Chapter 10 (pages 136 -172) – “Assisted Living Administration and Management – Yee-Melichar, D; Flores, C.; Boyler, AR (2021)

Assignment. Write a paper the responses to the items noted below. The paper can include other outside references, including the assigned textbook.

*Describe the role of the following reports for managing an assisted living facility:
*Monthly financial statement
*Monthly accounts receivable aging report
*Check registers
*Payroll journal

*What are the differences between the following:
*Balance Sheet
*Income Statement
*Cash flow statement

*What are the roles of the following positions in preventing losses of assets:
*External auditors
*Facility Bookkeeper
*Corporate Chief Financial Officer

Assisted Living Director