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FINANCIAL MANAGEMENT
Total: 100 Marks
Instructions : Answer any 5 questions. Each question carries 20 Marks.
1. How will you define concepts of Accounting? How is it applicable in the
Hospitals?
Answer : The preparation of
Income Statement and Balance Sheet of a business is based on certain
assumptions. These assumptions are called Accounting Concepts.
Accounting concepts are very
helpful in applying commonly established procedures in preparing financial
statements.
Definition
It is assumed that the business
will continue to operate in the foreseeable future (as far as one can predict).
Therefore, there is no intention of closing down.
This concept may not be applied
if there are
2. Explain the role of Financial Management in Healthcare sector & functions
of Finance Manager?
Answer : Role of Financial Management in Healthcare sector
With inflation taking a bite out
of just about everyone's budgets these days, from single people, to families,
to business and government agencies alike, it has become evident that quality
healthcare financial management is increasingly important. With so many
troubles related to the economy nowadays, and the uncertainty and turmoil that
is being experienced by so many, providing good financial management in the
healthcare sector is of the utmost importance for all parties involved, from
patients to providers to insurance companies.
These days there are a number of
financial management services for healthcare that provide specific solutions
and have been specially designed for the healthcare organizations and the
medical professionals involved in providing care for their patients. While
there are many money management software programs and many
3. Explain concept of Economics?
Answer : Definition
of economics
The English term ‘Economics’ is derived from the Greek
word ‘Oikonomia’. Its meaning is ‘household management’. Economics was
first read in ancient Greece. Aristotle, the Greek Philosopher termed Economics
as a science of ‘household management’. But with the change of time and
progress of civilization, the economic condition of man changes. As a result,
an evolutionary change in the definition of Economics is noticed. Towards the
end of the eighteenth century Adam Smith, the celebrated English Economist and
the father of Economics, termed Economics as the ‘Science of Health’. According
4. Define & classify the Budget.
Answer : Budget is a financial
statement that coins down the expected revenue and expenditure of a particular
fiscal year.
A budget is a quantitative
expression of a plan for a defined period of time. It may include planned sales
volumes and revenues, resource quantities, costs and expenses, assets,
liabilities and cash flows. It expresses strategic plans of business units,
organizations, activities or events in measurable terms
Definition
“A sum of money allocated for a particular purpose.”
Or,
“A summary of intended expenditures along with proposals for how to
meet them.”
Purpose
Budget helps to aid the planning
of actual
5. Explain Payback method and discounted pay back method
Answer : The payback method is a
method of evaluating a project by measuring the time it will take to recover
the initial investment.
In capital budgeting, the payback
period refers to the period of time required for the return on an investment to
"repay" the sum of the original investment.
As a tool of analysis, the
payback method is often used because it is easy to apply and understand for
most individuals, regardless of academic training or field of endeavor. When
used carefully to compare similar investments, it can be quite useful. As a
stand-alone tool to compare an investment, the payback method has no explicit
criteria for decision-making except, perhaps, that the payback period should be
less than infinity.
6. What do you mean by “Term Loans”? Explain with examples?
Answer : A term loan is a monetary loan that is repaid in regular payments
over a set period of time. Term loans usually last between one and ten years,
but may last as long as 30 years in some cases. A term loan usually involves an
unfixed interest rate that will add additional balance to be repaid.
Usage
Term loans can be given on an
individual basis but are often used for small business loans. The ability to
repay over a long period of time is attractive for new or expanding
enterprises, as the assumption is that they will increase their profit over
time. Term loans are a good way of quickly increasing capital in order to raise
a business’ supply capabilities or range. For instance, some new companies may
use a term loan to buy company vehicles or
Dear
students get fully solved assignments
Send
your semester & Specialization name to our mail id :
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or
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