NUR 621 Balance Sheet

Grand Canyon University NUR 621 Balance Sheet – Step-By-Step Guide

This guide will demonstrate how to complete the Grand Canyon University NUR 621 Balance Sheet  assignment based on general principles of academic writing. Here, we will show you the A, B, Cs of completing an academic paper, irrespective of the instructions. After guiding you through what to do, the guide will leave one or two sample essays at the end to highlight the various sections discussed below.

How to Research and Prepare for NUR 621 Balance Sheet               

Whether one passes or fails an academic assignment such as the Grand Canyon University NUR 621 Balance Sheet   depends on the preparation done beforehand. The first thing to do once you receive an assignment is to quickly skim through the requirements. Once that is done, start going through the instructions one by one to clearly understand what the instructor wants. The most important thing here is to understand the required format—whether it is APA, MLA, Chicago, etc.

After understanding the requirements of the paper, the next phase is to gather relevant materials. The first place to start the research process is the weekly resources. Go through the resources provided in the instructions to determine which ones fit the assignment. After reviewing the provided resources, use the university library to search for additional resources. After gathering sufficient and necessary resources, you are now ready to start drafting your paper.

How to Write the Introduction for NUR 621 Balance Sheet               

The introduction for the Grand Canyon University NUR 621 Balance Sheet  is where you tell the instructor what your paper will encompass. In three to four statements, highlight the important points that will form the basis of your paper. Here, you can include statistics to show the importance of the topic you will be discussing. At the end of the introduction, write a clear purpose statement outlining what exactly will be contained in the paper. This statement will start with “The purpose of this paper…” and then proceed to outline the various sections of the instructions.

How to Write the Body for NUR 621 Balance Sheet               

After the introduction, move into the main part of the NUR 621 Balance Sheet  assignment, which is the body. Given that the paper you will be writing is not experimental, the way you organize the headings and subheadings of your paper is critically important. In some cases, you might have to use more subheadings to properly organize the assignment. The organization will depend on the rubric provided. Carefully examine the rubric, as it will contain all the detailed requirements of the assignment. Sometimes, the rubric will have information that the normal instructions lack.

Another important factor to consider at this point is how to do citations. In-text citations are fundamental as they support the arguments and points you make in the paper. At this point, the resources gathered at the beginning will come in handy. Integrating the ideas of the authors with your own will ensure that you produce a comprehensive paper. Also, follow the given citation format. In most cases, APA 7 is the preferred format for nursing assignments.

How to Write the Conclusion for NUR 621 Balance Sheet               

After completing the main sections, write the conclusion of your paper. The conclusion is a summary of the main points you made in your paper. However, you need to rewrite the points and not simply copy and paste them. By restating the points from each subheading, you will provide a nuanced overview of the assignment to the reader.

How to Format the References List for NUR 621 Balance Sheet               

The very last part of your paper involves listing the sources used in your paper. These sources should be listed in alphabetical order and double-spaced. Additionally, use a hanging indent for each source that appears in this list. Lastly, only the sources cited within the body of the paper should appear here.

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Sample Answer for NUR 621 Balance Sheet

Introduction

Running and managing a company requires various approaches. Therefore, the organization’s leaders have to strive to use appropriate strategies to help keep track of the organization’s performance and be proactive in taking the necessary steps and solve identified problems or issue. One such strategy is the use of balance sheets and consolidated balance sheet. A balance sheet is used to show the company’s financial position on a particular data by listing the capital, liabilities and assets. Balance sheet plays a crucial role of revealing the financial health of a company and help them make appropriate plans and actions (Bandy, 2023). Therefore, this presentation focuses on provided consolidated balance sheet and identity various aspects such as assets, liabilities, revenue and expenses among others.

Assets

Assets can be defined as resource which a company owns, in this case, the hospital. Assets are usually categorized into two as they can either be current or non current and such classification is based on the time expected off conversion into cash or when it can be used in operations (Jeenas, 2019). As such, the current assets are those assets which can be used or converted into cash within a year. On the other hand, non-current assets are in most cases used over longer periods of time. The consolidated balance sheet given in the appendix recorded assets for the year 2018 and 2019 with an analysis showing an increase in assets in 2019 in comparison to 2018.

The organization’s assets displayed are composed of both current and non-current assets. The current assets include cash and cash equivalents, account receivables, income tax receivable, and other current assets.  The totals value for current assets considerably increased in 2019 as compared to 2018, which could be an indication that the company experienced growth during this time. The other parts of assets presented include, land, buildings, equipment, construction in progress, investments in and advances to affiliates and intangible assets. As it can be observed,  the total assets for 2018 was $16885 while it  was $17568 in 2019, representing a substantial increase and an improvement of the company.

Liabilities

Liabilities can be defined as debts that an organization such as a hospital owes to others. They are usually divided into the current liabilities and non-current liabilities, with the categorization based on when they are to be paid (Schroeder et al, 2022). The implication is that in the case of current liabilities, they are usually expected to be pain within one year. On the other hand, the non-current liabilities are expected to be paid over a longer duration. The consolidated balance sheet provided show liabilities for two consecutive years, 2018 and 2019. From the total figures, it is important to note that the total liabilities for the year 2018 was $11268, a figure which increased to $13163 in the year 2019.

From the table on the slide, it is evident that the current liabilities recorded for the year 2018 and 2019 was accounts payable, accrued salaries, other accrued expenses, government settlement accrual and long term debt. These current liabilities totaled to $3117 and 4141 in 2018 and 2019 respectively. The increase can be associated with the presence of government settlement accrual in 2019 which was not there in the year 2018. The non-long term liabilities include, Professional liability risks, deferred taxes and other liabilities, Minority interest in equity of consolidate entities and Forward purchase contracts and put options. The total liabilities recorded for the year 2019 and 2018 was $13,163 and $ 11, 268 respectively. Which represented a substantial  increase which can mainly be associated with the presence of Government settlement accrual and Forward purchase contracts and put options in the year 2019.

Stockholder’s Equity

Stockholder’s equity can be defined as the residual interest in the assets of an organization after the liabilities deduction (Sridewiarsi & Eva, 2023).  The implication is that stockholder’s equity is a representation of the asset quantity that would be left over for the shareholders in a case where the liabilities are all paid off.  From the consolidated balance sheet provided in the appendix, the organization’s stockholders’ equity was represented for two consecutive years which is 2018 and 2019. In the year 2018, the total stockholders’ equity was $5617, a value with substantially decreased to $ 4405. The stockholder’s components include capital in excess of par value of shares, retained earnings, common stock and Accumulated other comprehensive income.

Revenue

Revenue is another key indicator of an organization’s success. Therefore it is important to compare revenues for two or three years to help unveil how an organization is doing in terms of revenue (Weygandt, 2019). As such, from the consolidated balance sheets provided, the revenues for the organization were recorded for three consecutive years including 2017, 2018 and 2019. from the table it can be observed that the revenue generated for the years 2017, 2018 and 2019 was $18681, $ 16657 and $16670. While there was a significant drop in revenue in 2018 as compared to 2017, the company recovered and posted a positive change in the year 2019 which signaled a positive move.

Expenses

Expenses is another vital component of the consolidated balance sheet (Kimmel et al.,2020). Therefore, it is important to explore the expenses incurred by the organization. The expenses from the consolidated balance sheets was recorded for three consecutive years including 2017, 2018 and 2019. While the total expenses recorded in 2017 was $17,530, this figure dropped to 15, 373 in the year 2018. However, an increase in expenses was observed in the year 2018 as $16,070 was recorded. The expenses incurred by the organization included salaries and benefits, supplied, other operating expenses, provision for doubtful accounts, depreciation, interest expense, settlement with federal government, impairment of long-lived assets and restructuring of operations and investigation-related costs.

Cash Flow

Cash flow is another component of the consolidated balance sheets (warren, 2020). The provided consolidated balance sheets provided presented cash flow for three consecutive years, 2018, 2018 and 2018.  Among the components of the cash flow include net income, provision for doubtful accounts, depreciation, income taxes, settlement with federal government, gains on sales of facilities, impairment of long-lived assets, loss from discontinued operating assets, and accounts receivable. No particular general trends can be seen as most of the items experienced fluctuations.

There are other items included in cash flows. It is important to note that the net cash provided by continuing operations was observed to increase from 2017 to 2019. net cash provided by continuing operations  recorded in 2017, 2018 and 2019 was $1916, $1223 and $1547 respectively, showing an increasing trend. Part of the cash flow also include cash flows from financing activities. Some of the cash flows associated with financing activities included issuance of long term debt, net change in bank borrowing, repayment of long-term debt, issuance of common stock and payment of cash dividends.  A decreasing trend was observed from 2017 to 2019.

As part of the cash flows, the organization also had cash flows from investing activities for the years 2017, 2018 and 2019.  while the total values for 2017 was observed to be $ 970, a decrease to $925 was observed in the year 2018. However, the year 2019 was associated with an increased value of $ 1087. the components of the cash flows from investing activities included the purchase of property and equipment, acquisitions of hospital and healthcare entities, spin-off of facilities to stockholders, disposal of hospital and healthcare entities, change in investments and investments in discontinued operations.

References

Bandy, G. (2023). Financial management and accounting in the public sector. Routledge.

Jackson, A. B. (2021). Financial Statement Analysis: A Review and Current Issues. China Finance Review International, forthcoming. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3958540

Jeenas, P. (2019). Firm balance sheet liquidity, monetary policy shocks, and investment dynamics. Work, 5. http://madbarworkshop.com/wp-content/uploads/2019/09/Jeenas_FBSL_0626.pdf

Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2020). Financial accounting: tools for business decision-making. John Wiley & Sons.

Bandy, G. (2023). Financial management and accounting in the public sector. Routledge.

Jackson, A. B. (2021). Financial Statement Analysis: A Review and Current Issues. China Finance Review International, forthcoming. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3958540

Jeenas, P. (2019). Firm balance sheet liquidity, monetary policy shocks, and investment dynamics. Work, 5. http://madbarworkshop.com/wp-content/uploads/2019/09/Jeenas_FBSL_0626.pdf

Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2020). Financial accounting: tools for business decision-making. John Wiley & Sons.

The for-profit and nonprofit entities are different entities based on operation and the goals that they work to achieve success or accountability. For-profit entities are organizations that aim to sell products and services, earn owners money and give profit to the shareholders or investors (Leger, 2021). This is the process that is achieved by offering services at a fee. Not-for-profit, on the other hand, is also associated with entities that do not have the goal of profitability (Leger, 2021). They take part in the use of alternative performance indicators, including revenue from over-expenses or under-income and performance income. They provide and compensated care and tend to be located in areas with fewer uninsured patients. There are focuses on completing specific missions and visions associated with the public. They do not engage in generating revenue or benefiting owners and shareholders but rather relate to reinvesting without operation or expenses. An example of a difference that exists between the two is in profits that are measured. For-profit entities are always involved in measuring success in the form of financial performance, return on investment or turnover.

On the contrary, not-for-profit measures success in the form of the extent to which the mission has been achieved or objectives. For-profit entities can focus on the bottom line, whereby revenue examines expenses to generate profit. Another difference is based on primary purpose, whereby for-profit entities aim to generate profit for the owners. At the same time, not-for-profit entities exist to fulfil a specific social, educational, or religious mission. Revenue is primarily regenerated in the form of the cells of goods and services for for-profit entities, while not-for-profit relies on donations and grants (George Washington University, 2021). For-profit entities are subjected to corporate taxes on profits, while not-for-profit entities do not engage in federal income; however, they have to support regulations and maintain their status.

The differences between the two can significantly affect the mission, vision, values and goals. In the case of mission, for-profit entities are focused on delivering value to customers and achieving market leadership. In contrast, the not-for-profit mission is impacted with the primary focus on a specific course or community benefit, including elevating poverty and promoting education (Leger, 2021). The vision is also affected because for-profit entities’ vision is on growth and innovation with the aim of expanding market share and profitability. On the other hand, not-for-profits have a vision of reflecting long-term societal impact, including creating accessibility to quality education. This is similar to the case with the effect on values and goals, whereby core values impact for-profit entities on customer satisfaction and goals of increasing revenue.

On the contrary, not-for-profit entities have values that emphasize compassion and social justice and other goals that are aligned with the mission of increasing the number of individuals that are served (Leger, 2021). Generally, the fundamental difference between purpose and mission fulfilment shapes the entire approach of day organization. The distinctive goals and objectives influence the organization’s strategic direction and decision-making process.

References

George Washington University (2021). For-profit vs. nonprofit hospital administration. Retrieved from https://healthcaremba.gwu.edu/blog/profit-vs-nonprofit-hospital-administration/

Leger, M. (2021). Financial management for nurse managers: Merging the heart with the dollar (5th ed.). Jones and Bartlett. ISBN-13: 9781284230932