Financial Fundamentals
The New Business of Healthcare operates on razor-thin margins. New models for delivering care including Patient-Centered Medical Homes and Accountable Care Organizations will require careful financial planning, structuring, and reporting. This course provides an overview of key financial statements and performance ratios and their function in assessing an organization’s financial condition.
Course Overview
Presenter: Gerald J. Archibald, CPA
The Bonadio Group
This course will help those new to healthcare or to finance to understand the basic fundamentals of how to interpret and analyze financial statements of health and human service providers.
The course consists of 2 modules
Module 1 - Financial Reporting Fundamentals
Financial fundamentals are all of the data points used to measure the health and value of a firm. In module 1, Mr. Archibald will review these data points; balance sheets, income statements, revenue, earnings, cash flow, etc. and explore their relationships to one another and to the firm’s health and value. He will also explore the relationship of debt to cash on hand.
Time to view this module is 58 minutes.
Module 2 - Ratios
Module 2 will cover Ratios. Accounting Ratios are used to describe the relationships between different types of accounting data. Ratios can be used to determine changes in a firm’s financial health, can be used for planning and forecasting, for determining the overall value of a firm, and for many other types of financial decision making. Ratios simply show how one number is related to another.
Time to view this module is 57 minutes.
Course Learning Objectives
Module 1
At the conclusion of Module 1 the learner will be able to:
- Describe the purpose and meaning of financial statements
- Understand the basic economic, financial, and operating factors that influence the success of a business
- Understand the key information necessary for an effective financial statement
- Articulate the key questions necessary to gain an understanding of financial statements
Module 2 – Ratios
At the conclusion of Module 2 the learner will be able to:
- Define the meaning of and the rationale behind using ratios
- Understand the different types of ratios and when and why they are used
- Understand the advantages and disadvantages of the different types of ratios
Time to complete this course is approximately 193 minutes.
Presenter: Gerald J. Archibald, CPA
Jerry is the partner in charge of the Healthcare/Tax-Exempt Central Division of The Bonadio Group. He began his career with Arthur Andersen & Co., where he spent 12 years before joining The Bonadio Group in 1986.
Jerry has over thirty five years of experience in providing business advisory, assurance, compliance, and consulting services to healthcare, tax-exempt, and government clients. He has provided services to more than 300 tax-exempt, municipal, and healthcare organizations in his career.
Jerry is certified as a Fellow in the Healthcare Financial Management Association and as a Certified Managed Care Professional. His expertise in the health and human service industries has provided him with a unique perspective of all aspects of health and human service delivery systems. He has been involved extensively in health and human service client engagements, which involve the evaluation, assessment, and implementation of operating improvements. A unique aspect of Jerry’s experience allows him to provide ongoing consulting and support services to organizations both during and after implementation of strategies and recommendations. His work does not end with the design and implementation phase.
Jerry has written a monthly column on non-profit management strategies for the Rochester Business Journal for the past fifteen years and the Central New York Business Journal for the past three years. He is currently the editor of the Thomson Reuters publications entitled Nonprofit Controller’s Manual and Corporate Controller’s Manual.
Jerry received his BS degree in accounting from St. John Fisher College in 1974. He is a member of the American Institute of Certified Public Accountants, the New York State Society of Certified Public Accountants, and the Healthcare Financial Management Association, of which he was a past president. He has served and continues to serve his community as an Honorary Board member of the School of Holy Childhood, Board Chair of the Mary Cariola Children’s Center, Advancement Committee of Bishop Kearney High School, and Allocations Committee and Agency Staff Training Committee of the United Way.
Development Organization: The Bonadio Group
Big Firm Capability. Small Firm Personality.
The Bonadio Group is comprised of a set of different companies, alliances and strategic partnerships that taken as a whole, delivers over fifty different services.
Complementing this structure is the diverse spectrum of law firms, banks, government officials and programs, regulators, insurers, venture capitalists, & MORE that we have built over the years into one of the area’s largest referral networks.
In effect, if you have a financial need, issue or problem—whether you’re a commercial company, a not-for-profit, or an individual—yes, we can help through our association, our affiliations, or through any one or combination of the Bonadio family of companies, described below.