LTCE 845e Understanding and Calculating Financial Information: Average Collection Period Ratios and more 2 CEUs
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Discussion of how to use financial statements in managing the assisted living facility. Explanation of working capital, ratio analysis, and vertical analysis. Additional accounting procedures that help the administrator maintain control over the facility are explored, e.g. accounts receivable, resident census reports. How to collect money owed the facility. Standard procedures in handling cash. Types of inventory and control of inventory are discussed.