Health Finance and Budgeting
Excel Assignment
This artifact was completed for my Healthcare Finance and Accounting course. The assignment required me to use Excel to organize and analyze financial information for Merion Hospital, including a Balance Sheet, Statement of Operations, and Statement of Changes in Net Assets.
This artifact demonstrates my ability to interpret basic healthcare financial statements, organize financial data, and understand how revenues, expenses, liabilities, assets, and net assets affect the financial position of a healthcare organization. It also helped me practice using Excel as a tool for financial analysis and professional documentation.
annotated-Excel%20Assignment.xlsx.pdf
What I learned
This assignment helped me better understand how healthcare organizations track their financial performance and overall financial position. Before this course, I understood healthcare mostly through clinical care, research, and operations. This assignment helped me see the financial side of healthcare and how important accounting is for organizational decision-making.
Through the Excel assignment, I learned how to read and organize major financial statements. The Balance Sheet helped me understand how assets, liabilities, and net assets show the financial position of an organization at a specific point in time. The Statement of Operations helped me see how revenues and expenses determine whether an organization has a positive or negative operating result. The Statement of Changes in Net Assets helped me understand how donor restrictions, transfers, and changes in revenue affect an organization’s overall financial standing.
I chose this artifact because it connects directly to my future goals in healthcare administration and leadership. Healthcare leaders need to understand more than patient care and operations. They also need to understand financial performance, budgeting, resource allocation, and sustainability. This assignment helped me build a foundation in financial literacy that will be important in future leadership roles.
This artifact also strengthened my Excel and data organization skills. I practiced working with financial categories, aligning statements, checking totals, and presenting information in a clear format. These skills will be useful in healthcare operations, clinical research budgeting, program management, and administrative decision-making.
Program Competencies
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Utilize financial tools, principles, concepts, and practices to analyze budgets and financial documents to determine the financial performance of health services organizations.
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This artifact directly required me to work with financial statements and understand how assets, liabilities, revenues, expenses, and net assets reflect organizational performance.
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Apply data and health information technology to inform organizational performance and decision making.
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I used Excel to organize financial data and better understand how financial information supports decision-making in healthcare organizations.
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Apply quality, strategic planning, management, organizational behavior, marketing, and human resource theories and tools to manage organizational resources, confront industry challenges, and improve outcomes in health organizations.
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Understanding financial statements helps healthcare leaders manage resources, evaluate organizational sustainability, and make informed operational decisions.
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Demonstrate effective written communication and oral communication skills.
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This assignment required clear organization of financial information so that the data could be interpreted and understood in a professional format.
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Demonstrate behaviors that align with ethical, legal, and professional standards.
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Financial accuracy and transparency are important professional responsibilities in healthcare organizations because financial decisions affect staffing, services, patients, and long-term organizational stability.