Finance and Economics in Health Care Discussion

Discussion: Foundational Accounting ConceptsTo prepare:Review this week’s Learning Resources focusing on the difference between accrual accounting and cash accounting. Conduct additional research as needed until you are confident that you grasp the distinction between the two approaches.Consider why you would select one approach over the other and the effect it would have on financial decision making. Determine how you could explain these concepts to someone not familiar with accounting.Select a task you might perform daily, or an item that you might use daily in the workplace, and determine where the cost should appear on a balance sheet.Reflect on the role of cash in the financial operations of an organization. How could cash flow issues impact your own organization (or one with which you are familiar)?