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.

Sample Answer 2 for NUR 621 Balance Sheet

Introduction

This presentation provides an overview of the financial statements for Hospital Anywhere USA for the years ending 2019, 2018, and 2017. The focus is on the consolidated balance sheet derived from the income statement, including assets, liabilities, stockholders’ equity, revenue, expenses, and cash flow. This presentation evaluates our consolidated balance sheet and provides a view of Hospital Anywhere USA’s financial position as of December 31, 2019. The balance sheet is based on the accounting equation, as Mashoka (2022) shows: Assets = Liabilities + Stockholders’ Equity. As we can see, our total assets amount to $29.624 billion, balanced by our total liabilities of $22.157 billion and stockholders’ equity of $7.467 billion. This balance demonstrates our financial position at the end of 2019. The assets represent what our hospital owns or controls, while liabilities encompass our financial obligations. The stockholders’ equity represents the net worth of our hospital after all liabilities have been accounted for. In the following slides, we’ll examine each component in more detail.

Assets Overview

Research guides that the assets section of the balance sheet reveals the hospital’s liquidity and investment in long-term resources (Abdulazizovich, 2023). Cash and cash equivalents increased to $314 million, indicating improved liquidity. The significant property and equipment value of $5.297 billion reflects the hospital’s investment in infrastructure and technology. Accounts Receivable at $2.893 billion suggests efficient billing practices, but also highlights the need for effective receivables management.

Current Assets

Current assets are crucial for our day-to-day operations and financial liquidity. Our current assets include several vital components. Cash and cash equivalents represent a significant portion of these assets, offering liquidity that can be used to meet short-term obligations and fund ongoing operations (Fridson & Alvarez, 2002). They were at $314 million as of December 31st, 2019. Another critical component is accounts receivable, which includes amounts owed to the hospital by patients and insurance companies for services rendered, with an allowance for doubtful accounts of $1.583 billion in the same financial year. This figure, net of allowances for doubtful accounts, indicates the hospital’s efficiency in managing its billing and collections processes (Fridson & Alvarez, 2002). On the other hand, inventories include medical supplies and pharmaceuticals essential for patient care, which amounted to $ 90 million for the 2019 financial year. We also have income taxes receivable and other current assets under this category.

Properties and Equipment

The most considerable portion of the assets, however, is in property and equipment, which includes land, buildings, equipment, and ongoing construction projects. These assets’ purchases amounted to $1.155 billion in 2019. These long-term assets are vital for the hospital’s ability to provide high-quality care and expand its services. The breakdown of these assets shows the hospital’s current financial strength and its capacity to invest in future growth (Barker et al., 2021). We also have ongoing construction projects in the “Construction in progress” line item. The total property and equipment figure represents the cost of these assets. It’s important to note that we also report accumulated depreciation, reflecting our assets’ wear and tear over time (Barker et al., 2021). This approach ensures that our balance sheet accurately represents the current value of these long-term assets.

Current Assets

Current assets are crucial for our day-to-day operations and financial liquidity. Our current assets include several vital components. Cash and cash equivalents represent a significant portion of these assets, offering liquidity that can be used to meet short-term obligations and fund ongoing operations (Fridson & Alvarez, 2002). They were at $314 million as of December 31st, 2019. Another critical component is accounts receivable, which includes amounts owed to the hospital by patients and insurance companies for services rendered, with an allowance for doubtful accounts of $1.583 billion in the same financial year. This figure, net of allowances for doubtful accounts, indicates the hospital’s efficiency in managing its billing and collections processes (Fridson & Alvarez, 2002). On the other hand, inventories include medical supplies and pharmaceuticals essential for patient care, which amounted to $ 90 million for the 2019 financial year. We also have income taxes receivable and other current assets under this category.

Properties and Equipment

The most considerable portion of the assets, however, is in property and equipment, which includes land, buildings, equipment, and ongoing construction projects. These assets’ purchases amounted to $1.155 billion in 2019. These long-term assets are vital for the hospital’s ability to provide high-quality care and expand its services. The breakdown of these assets shows the hospital’s current financial strength and its capacity to invest in future growth (Barker et al., 2021). We also have ongoing construction projects in the “Construction in progress” line item. The total property and equipment figure represents the cost of these assets. It’s important to note that we also report accumulated depreciation, reflecting our assets’ wear and tear over time (Barker et al., 2021). This approach ensures that our balance sheet accurately represents the current value of these long-term assets.

Non-Current Assets

In addition to our current assets, property, and equipment, we hold several other significant assets. These include investments in our insurance subsidiary and investments in and advances to affiliates. We also report intangible assets, showing net accumulated amortization of $785 million as of 2019. The ‘Other’ category encompasses assets that don’t fit the previous categories (Batrancea, 2021). These assets contribute to our overall financial position and support our operations.

Liabilities Overview

In 2019, “Hospital Anywhere USA” reported total liabilities of $22.157 billion. This figure represents the hospital’s financial obligations and includes several key components crucial for understanding its risk exposure, categorized into current or long-term liabilities. Dambra et al. (2022) report that current liabilities are due within one year, including accounts payable and accrued salaries. Comparatively, long-term debt represents our financial obligations extending beyond one year. We also have other long-term liabilities, which include professional liability risks, deferred taxes, and other liabilities. Understanding our liability structure is crucial for assessing our financial obligations and planning for the future.

Current Liabilities

Accounts payable, one of the current liabilities, refers to the amounts the hospital owes to suppliers and vendors for goods and services received. Managing these payables efficiently is essential to maintain good supplier relationships and ensure the hospital’s operations run smoothly (Abdulazizovich, 2023). Accrued salaries and other expenses represent another significant portion of the hospital’s liabilities. We also have other accrued expenses and a government settlement accrual. Additionally, we report the portion of our long-term debt due within one year as part of our current liabilities. These are obligations to employees for salaries earned but not yet paid and other expenses that have been incurred but not yet settled.

Long-Term Liabilities

Our long-term liabilities comprise several components. The primary component is our long-term debt, representing financial obligations extending beyond one year. We also have grouped professional liability risks, deferred taxes, and other liabilities. Additionally, we report minority interests in equity of consolidated entities, forward purchase contracts, and put options (van Straten et al., 2020). These long-term liabilities are crucial for understanding our extended financial commitments and potential future obligations. Long-term debt indicates that the hospital has leveraged financing to fund capital projects, such as expansions or equipment purchases, which are critical for its growth and service delivery. However, this also means the hospital must generate sufficient revenue to meet these obligations without compromising its financial stability.

Stockholders’ Equity Overview

As of December 31, 2019, our total stockholders’ equity is $7,467 million. This figure, based on the four main categories of stakeholders’ equity—Common Stock, Capital in Excess of Par Value, Accumulated Other Comprehensive Income, and Retained Earnings—is a crucial indicator of our financial health and represents the value that would be returned to shareholders if all assets were liquidated and all debts paid off (Mashoka, 2022). In the following slides, a breakdown of the components of this equity will be provided.

Components of Stakeholders’ Equity

Our stockholders’ equity comprises several elements. Common Stock represents the value of shares issued by the hospital and held by shareholders. We have common stock with a par value of $0.01, with 1,600,000,000 voting shares and 50,000,000 nonvoting shares authorized. As of 2019, we have 521,991,700 voting shares outstanding. We also report capital over par value, which represents the additional capital contributed by shareholders over and above the nominal value of the shares, reflecting investor confidence and the hospital’s capacity to raise capital (Rosko et al., 2020). Gou (2020) elaborates further that Accumulated Other Comprehensive Income captures gains and losses not included in the net income, such as unrealized gains or losses on investments, foreign currency translation adjustments, and pension plan adjustments. This component adds a layer of complexity to the hospital’s equity, as it can be volatile depending on market conditions and other external factors. Finally, Retained Earnings represent the cumulative profits that the hospital has reinvested in its operations rather than distributed as dividends. This segment indicates the hospital’s ability to generate and retain profits over time, which is crucial for funding future growth and absorbing potential losses (Gou, 2020). These components collectively represent the ownership interest in our hospital.

Revenue Overview

The total revenue for Hospital Anywhere USA in 2019 was $16.670 billion, slightly higher than the $16.657 billion generated in 2018. This steady revenue stream indicates the hospital’s ability to maintain a consistent income despite the healthcare industry’s challenges (Pitcher et al., 2023). Revenue is the lifeblood of the hospital, providing the necessary funds to cover operating expenses, invest in new technologies, and expand services. It is generated primarily through patient services, including inpatient care, outpatient services, and other medical procedures. Although modest, the slight increase in revenue from 2018 to 2019 demonstrates the hospital’s resilience and effectiveness in maintaining its patient base and service offerings. Additionally, this consistent revenue is crucial for the hospital’s long-term financial stability, allowing it to meet its obligations and reinvest in its operations.

Expenses Overview

In 2019, Hospital Anywhere USA incurred total expenses of $16.070 billion, a significant figure that reflects the costs associated with running a large healthcare institution. These expenses are categorized into several key areas, each critical to the hospital’s operations. Salaries and benefits represent the most significant portion of these expenses, as the hospital employs many medical professionals, administrative staff, and support personnel. The quality of care provided by the hospital is directly tied to its ability to attract and retain skilled employees, making this an essential area of expenditure. Supplies, which include medical equipment, pharmaceuticals, and other necessary materials, are another major expense category. These supplies are vital for the hospital’s daily operations and directly impact patients’ quality of care. Other operating expenses include utilities, maintenance, and other essential services that keep the hospital running smoothly (Batrancea, 2021). Additionally, the hospital must account for depreciation and amortization, which represent the gradual reduction in the value of its long-term assets over time. Interest expense, another significant cost, reflects the interest payments on the hospital’s long-term.

Cash Flow Overview

The cash flow from operating activities for “Hospital Anywhere USA” in 2019 was $1.547 billion, up from $1.223 billion in 2018. This positive cash flow strongly indicates the hospital’s ability to generate sufficient cash from its core operations to cover its expenses and fund its ongoing activities, as explained by Mashoka (2022). Cash flow from operating activities includes all the cash generated by the hospital’s daily operations, such as payments from patients and insurance companies, minus the cash paid out for operating expenses like salaries, supplies, and utilities. The increase in cash flow from 2018 to 2019 demonstrates the hospital’s efficiency in managing its operations and collecting payments, which is crucial for maintaining liquidity and financial stability. A strong cash flow from operations is essential for the hospital as it provides the necessary funds to reinvest in the business, pay down debt, and prepare for future challenges.

Conclusion

Our total assets are $29.624 billion, balanced by total liabilities of $22.157 billion and stockholders’ equity of $7.467 billion. These figures provide a snapshot of our financial position as of December 31, 2019. The balance between our assets and liabilities, resulting in a positive equity, indicates financial stability. However, a comprehensive understanding of our economic health would require additional information from other financial statements and year-over-year comparisons. Moving forward, we’ll continue to focus on maintaining a solid financial position while providing high-quality healthcare services to our community.

References

Abdulazizovich, K. U. (2023). Improvement of information about accounts receivable in current assets in the balance sheet based on international standards. Journal of Survey in Fisheries Sciences, 10(2S), 2849–2859. https://doi.org/10.17762/sfs.v10i2S.1349

Barker, R., Lennard, A., Penman, S., & Teixeira, A. (2021). Accounting for intangible assets: Suggested solutions. Accounting and Business Research, 52(6), 1–30. https://doi.org/10.1080/00014788.2021.1938963

Batrancea, L. (2021). The influence of liquidity and solvency on performance within the healthcare industry: Evidence from publicly listed companies. Mathematics, 9(18), 2231. mdpi. https://doi.org/10.3390/math9182231

Dambra, M., Even-Tov, O., & Naughton, J. P. (2022). The economic consequences of GASB financial statement disclosure. Journal of Accounting and Economics, 101555. https://doi.org/10.1016/j.jacceco.2022.101555

Fridson, M. S., & Alvarez, F. (2002). Financial statement analysis : A practitioner’s guide. John Wiley & Sons.

Gou, C. (2020). Research on the reclassification of financial assets. OALib, 07(06), 1–9. https://doi.org/10.4236/oalib.1106324

Mashoka, T. Z. (2022). The effect of fair-value accounting on the value relevance of the balance sheet and the income statement. Jordan Journal of Business Administration, 18(4). https://doi.org/10.35516/jjba.v18i4.456

Pitcher, A., Zhang, R., Gurzenda, S., Pink, G., & Reiter, K. (2023). Non-operating revenue is an important source of funding for rural hospitals, especially those that are government-owned. The Journal of Rural Health: Official Journal of the American Rural Health Association and the National Rural Health Care Association. https://doi.org/10.1111/jrh.12797

Rosko, M., Al-Amin, M., & Tavakoli, M. (2020). Efficiency and profitability in US not-for-profit hospitals. International Journal of Health Economics and Management, 20(4). https://doi.org/10.1007/s10754-020-09284-0

van Straten, B., Dankelman, J., van der Eijk, A., & Horeman, T. (2020). A circular healthcare economy; a feasibility study to reduce surgical stainless steel waste. Sustainable Production and Consumption. https://doi.org/10.1016/j.spc.2020.10.030