How can cost accounting be utilized to support healthcare organizational strategic decisions and goals related to departments, facilities, and services.

Q: How does having an effective payment model impact the role of a manager / administrators in a…

A: Effective Payment Model: Payment Model refers to the system of paying for the quantity of service…

Q: Identify and explain the cost controls utilized by Managed-Care health plans

A: Managed care health plans is a recent change in health care insurance plan in country to reduce the…

Q: ) Give an example of a department corresponding to an investment center, specifying the practical…

A: Give an examle of a department corresponding to an investment centre.

Q: When allocating support department costs, managers must identify cost pools.  The choice of cost…

A: Cost pools represents the various cost incurred in the production process of the company that have…

Q: What is the difference between operating departments and service departments?

A: There are so many multinational corporations that manage difficult industries. Managing such…

Q: Explain why maintaining their medical-services provider network is treated as a…

A: Activity-based costing: It is a method that helps in finding the activities performed by a company…

Q: How does the use of a time-driven activity-based costing (TDABC) system facilitate the preparationof…

A:

Q: Function of human resources management

A: Solution- Human resource management (HRM) is nothing but managing human resources. it's the policies…

Q: Why are top management support and cross-functional involvement crucial when attempting to implement…

A: Activity based costing system is a form of costing system in which cost is analysed by dividing the…

Q: Which of the following would be the most appropriate cost driver allocating the service department…

A: Cost drivers are direct reason of cost incurred. Allocation of overhead is made on the basis of cost…

Q: What are support departments, and why are their costs allocated to other departments?  What process…

A: generally supporting departments are the departments that provide services to main departments. so…

Q: Describe the importance of Revenue Cycle Management and the impact it can have on the healthcare…

A: Revenue Cycle Management (RCM) refers to the process of identifying, collecting and managing the…

Q: Define and explain the cost management information system's two major subsystems.

A: Cost management information system refers to the system which is related with the manufacturing the…

Q: Developing). Manage personnel costs on th

A: From Service Department Cost Allocation - Direct Method Service Department Operating Departments…

Q: How does price transparency impact the role of a manager / administrators in a healthcare…

A: Transparency in business refers to a situation where significant stuff is known to many. This…

Q: Explain the Role of absorption costing to improve organisational performance

A: Absorption costing means absorption of all cost of company. It allocates fixed overhead cost to the…

Q: Are activity-based costing systems appropriate for the service industry? Explain.

A:

Q: How cost accounting is useful for external user as Government ,and customer etc.support your answer…

A: Cost accounting system is a framework that guides the firm to calculate their cost and helps in…

Q: What are the differences between the strategic initiatives and operating activities of a health care…

A: Difference among operating activities of healthcare organization and strategic initiativesStrategic…

Q: Discuss how the budgeting process in an organisation benefits a functioning standard costing system

A: The process of creating a budget is referred to as budgeting. This process involves budget planning…

Q: Explain the difference between the engineered-cost and discretionary-cost approaches to…

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Explain how the choice of the type of responsibility center (cost, revenue, profit, or investment)…

A:

Q: Service costing is a costing method used to compute the costs of services rendered. Provide the most…

A: Foe hotel industry: Service costing is an effective tool in respect of hotel industry which run on…

Q: Using a CPA firm to represent the service industry, discuss how activity-based costing could be used…

A:

Q: Which costing system is extensively used in the service industry for hospitals, law firms, or…

A: Service industry for hospitals, law firms, or accounting firms would use the job order costing…

Q: Describe the difference between direct and step-down methods to allocate service department costs to…

A: Service departments are those department which provides services to other departments like other…

Q: Distinguish between direct and indirect expenses and identify bases for allocating indirect expenses…

A:

Q: What is meant by Activity Based Costing? How does it differ from Absorption costing? Is it suitable…

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: Define standard costs and briefly indicate how they may beused by management in planning and…

A: Standard costs: Standard costs are the per-unit cost that is expected to be incurred under normal…

Q: How cost accounting is useful for external user as Government ,and customer etc,support your answer…

A: Cost accounting gives complete details of the cost incurred in the manufacturing of the product and…

Q: The decision-making authority assigned to managers within the different responsibility centers…

A: The distinction among the three is as given below:

Q: Discuss how cost accounting can be utilized to support healthcare organizational strategic decisions…

A: The cost accounting principles and formulae are widely used and shown to be accurate. There are many…

Q: Describe accounting and presentation for research and development and similar costs.

A: Definition:   Research and development cost: These are the cost that is incurred on the research…

Q: assess if task costing or process costing would be a more suitable method of accounting. • *An…

A: solution : concepts involved task costing               Task costing is a method of costing where…

Q: what are the components of the cost of goods sold (also known as cost of revenues for healthcare…

A: Cost of goods sold is that cost which is incurred by an organization for generating the sales or…

Q: Identify and discuss the factors that affect the focus and practice of cost management.

A: The practice of managing and organizing the expenses associated with running a firm is known as cost…

Q: valuate the key elements of a human resource management strategy.

A: HRM strategy is a plan that lead to the implementation of a company's human resources department's…

Q: Distinguish among the three methods of allocating the costs of support departments to operating…

A:

Q: Explain why support costs are allocated to departments.

A: Support Cost:-These are those costs that are not directly attributable to the manufacturing of the…

Q: Define and explain the cost management information system's two major subsystems.

A: The Cost Accounting Information System (CAIS) is a financial accounting system that computes and…

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.