Explain important concepts regarding the use of financial information.
The Chief Financial Officer (CFO) of the hospital has asked for assistance. The CFO wants to create a document for new employees that explains financial information and the way it is used to evaluate a health care organization. You are being asked to explain important concepts regarding the use of financial information.
Using the information found in Ch. 7, “Fraud, Internal Control, and Cash,” and Ch. 9, “Reporting and Analyzing Long-Lived Assets,” of Accounting, respond to each question in the “Required Elements” column in the Financial Information Table below.
Thoroughly answer each question in your own words and provide a 100-word response for each question. This means the total word count for this assignment is 1,000 words.
Cite at least 3 scholarly sources to support the answers to the questions.
Format your citations and references according to APA guidelines.