What is cost accounting in the healthcare system?
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- What is cost accounting in the healthcare system?
- How are costs classified by
accounting function and management function? - Describe one cost classified by traceability and one cost classified by behavior.
- What are the four methods of cost allocation used in healthcare organizations?
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- Which costing system is extensively used in the service industry for hospitals, law firms, or accounting firms? Explain why.what are the components of the cost of goods sold (also known as cost of revenues for healthcare organizations)give a brief definition of each one of those componentsA. Service costing is a costing method used to compute the costs of services rendered.Provide the most suitable basis to calculate the cost for the following services:i) Audit ii) Hotel iii) Hospital
- In grouping expenses for planning and control purposes, what is the difference between grouping by Cost Center and by Diagnoses and Procedures?how and why hospitals use Activity-based Costing?What are support departments, and why are their costs allocated to other departments? What process is used to allocate support department costs?
- Cost accountancy is the application of cost accounting: a. Science, Principles and practice b. Principles, art and profession c. Principles, methods, techniques d. Science, management and PrinciplesMatch each of the following type of responsibility centers with what all they are accountable for. Cost Center Profit Center Investment Center Revenue CenterWhat is the typical focus of responsibility reports for cost centers, revenue centers, and profit centers?
