All organizations, including those in the healthcare industry, need to make money to be profitable and survive. Financial statements, such as balance sheets, profit and loss statements, and cash flow statements summarize this profitability and an organization’s overall financial status. What I need is to practice developing three key financial statements using data from a medical center.
Examine the data from Louis Medical Center. Reflect on how you will use this data to develop a balance sheet, profit and loss statement (statement of operations), and cash flow statement (statement of changes in net assets).