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Health Care Financial Environment Required Reading Accounting Capital XXXXXXXXXXWhat are accounting principles? Retrieved from http://www.accountingcapital.com/basic-accounting/accounting-principles/...

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Health Care Financial Environment
Required Reading
Accounting Capital XXXXXXXXXXWhat are accounting principles? Retrieved from http:
www.accountingcapital.com
asic-accounting/accounting-principles
Laying the groundwork for value-based payment. Healthcare Financial Management, 67(2), 1-4.
Speizman, R. A XXXXXXXXXXTax-exempt status for hospitals: Where have we been – and where are we going? Healthcare Financial Management, 63(2), 62-66.
Tolbert, S. H., Moore, G. D., & Wood, C. P XXXXXXXXXXNot-for-profit organizations and for-profit businesses: Perceptions and reality. Journal of Business & Economics Research, 8(5), XXXXXXXXXX.
 
Optional Reading
Internal Revenue Service XXXXXXXXXXNew requirements for 501(c)(3) hospitals under the Affordable Care Act. Retrieved from https:
www.irs.gov/charities-non-profits/charitable-organizations/new-requirements-for-501c3-hospitals-under-the-affordable-care-act
Answered Same Day Jun 16, 2020

Solution

Parul answered on Jun 18 2020
137 Votes
Order 31814
In a non-profit organisation there are no owners unlike for-profit organisations where there are defined owners and stakeholders. Fundamentally, all non-profit organisations provide services that are required to uplift the society. While on the other hand all the for profit organisations strives to earn profit and deliver the commitment made to their stakeholders.
Taking reference from “Tax-exempt status for hospital: Where have we been- and where are we going?” (Speizman, R. A., 2009)
ings out another major difference between non- profit organisations and for-profit organisation is that all the non-profit organisations are exempted from Income Taxes if the same is permitted by IRS below the code 501 (c)(3) but all the for profit organisations their owner and corporation as a whole are subjected to taxes.
Essentially stream of revenues for any for profit organisation is sales of services provided or products delivered/manufactured. While the revenue of any for profit organisation comes from contributions made by the donor, any grants received and dues from membership
Furthermore, anything left after settling the expenses are reinvested for the growth of the organisation while on the other...
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