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Financial Statements Review for Physicians
By Dr. David Edward Marcinko; MBA, CMP™
[Publisher-in-Chief
]
Of course, it is important to read the fine-print and understand the footnotes when reviewing all four consolidated financial statements or studying an annual business report.
And, these four consolidated statements are:
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Balance sheet
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Net-income statement
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Cash Flow Statement
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Statement of Retained Earnings
However, it is seldom done by the physician, financial manager or healthcare executive. Yet, the footnotes to financial statements and fine print of annual reports are often packed with meaningful information.
Footnote Highlights
The following are some usual footnote highlights for healthcare entities:
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Significant accounting policies and practices – Public healthcare companies are required to disclose the accounting policies that are most important to the portrayal of the company’s financial condition and results. These often require management’s most difficult, subjective or complex judgments.
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Income taxes – The footnotes provide detailed information about the healthcare company’s current and deferred income taxes. The information is broken down by level – federal, state, local and/or foreign, and the main items that affect the company’s effective tax rate are described.
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Pension plans and other retirement programs – The footnotes discuss the healthcare company’s pension plans and other retirement or post-employment benefit programs. The notes contain specific information about the assets and costs of these programs, and indicate whether, and by how much, the plans are over-or-under funded.
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Stock options – The notes also contain information about stock options granted to officers and employees, including the method of accounting.
Conclusion
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Filed under: Investing | Tagged: Health Care Finance |
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Why Is the Investor’s Personal Rate of Return Missing on Financial Statements?
Only 25% of statements across the annuity, mutual fund, and brokerage sectors include a “personal rate of return,” Dalbar’s annual survey says.
http://www.wallstreetandtech.com/asset-management/why-is-the-investors-personal-rate-of-return-missing-on-financial-statements/d/d-id/1297413
Wassup?
Dirk
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