Define and describe an accounting ...

[jasdeep_brar]

Define and describe an accounting system.

Question 2

How do not-for-profit hospitals calculate net patient service revenue, on their operating statements?
 
  a. gross billings at established rates; minus contractual adjustments, charity care, and similar items that the hospital does not expect to collect
  b. gross billings at established rates; minus contractual adjustments, charity care, and other items, such as bad debts expense
  c. gross billings at established rates; minus any amounts that the hospital does not expect to collect; plus revenue from capitation premiums
  d. gross billings at established rates; revenue from capitation premiums; and any other revenue directly attributable to patient services such as special charges for TV

[cdmart10]

Answer to Question 1

An accounting system is the methods and procedures for collecting, classifying,summarizing, and reporting a business's financial and operatinginformatio n. Accounting systems for large companies often record more than justbasic transaction data (i.e. aircraft maintenance for an airline). These systemsevolve through the process of (1) analysis of information needs, (2) systemdesign, and (3) implementation of the design. Input from users is used to analyzeand improve the system.

Answer to Question 2

a