Assignment: Developing Financial Statements
Note: The Instructor will post the document for this Assignment by Day 1 of Week 7.
All organizations, including those in the health care industry, need to make money to be profitable and survive. Financial statements, such as balance sheets, profit and loss statements, and cash flow statements summarize an organization’s profitability and overall financial status. For this Assignment, you practice developing three key financial statements using data from a medical center.
To prepare for this Assignment:
Review the Week 7 Assignment document provided to you by the Instructor. Examine the data from the medical center described in the document. Reflect on how you will use this data to develop a balance sheet, profit and loss statement (statement of operations), and cash flow statement (statement of changes in net assets). Refer to the course text for additional guidance.
Complete a balance sheet, profit and loss statement (statement of operations), and cash flow statement (statement of changes in net assets) using the “Week 7 Financial Statement Excel Template”.