UMUC HMGT322 Assessment #1: Understanding an Income Statement Question # 00599774 Course Code : HMGT322 Subject: Health Care Due on: 03/23/2019 Posted On: 03/23/2019 04:54 AM Tutorials: 1 Rating: 4.6/5

Assessment #1:
Understanding an Income Statement

You are an intern in a health care organization business
office. Find an example of an income statement for a health care organization
online and using the resources you have been provided under course content,
please develop a 4-6 page paper responding to the following questions regarding
the income statement:

1. What is an income statement used for?

2. What are the key components of an income statement?

3. On your example of an income statement, is the
organization making a profit or loss? How much is that profit or loss? Show the
calculations. (Total Revenues – Total Expenses = Net Profit/Loss)

4. On your example of an income statement, what is the
“contribution margin”? Show the calculations.
(Total Revenue – Variable Costs=Contribution Margin). You can use the
assumption that volume is 15,000 if not included in financial statements.

5. What three financial indicators does a contribution
margin help determine? How?

6. What is a break-even analysis? What is the break-even
point for this organization? Show the calculations. (Total revenues – Total VC – FC= Profit)

7. How does a break-even analysis vary between
fee-for-service and capitated payments? Explain it using the income statement
you chose. What are similarities and differences applicable to the Income
statements in fee-for-service and capitated payment options?

The paper should not be more than 6 pages and should follow
APA format, spelling and grammar. Include a cover page and reference page (not
included in the page count). Make sure to properly cite and reference all the
used sources. The calculations need to be shown as formulas using figures.
Follow the mathematical rules while calculating numbers.

90-100

80-89

70-79

50-69 Points

Student demonstrates a high degree of critical thinking, is
consistent in accurately interpreting questions & material; provides solid
assumptions, reasoning & claims; provides thorough analysis &
evaluation with sound conclusions

Student shows good critical thinking; accurately interprets
most questions & material; usually identifies relevant
arguments/reasoning/claims; offers good analysis & evaluation with fairly
sound conclusions

Student shows occasional critical thinking; questions &
material are accurately interpreted ay times; arguments/reasoning/claims are
explained occasionally; offers fair analysis & evaluation with a conclusion

Student lacks critical thinking, consistently offers biased
interpretations; ignores or superficially evaluates; argues using poor
reasoning, and/or unwarranted claims

Student’s arguments or positions are well-supported with
evidence from the readings/experience; ideas go beyond the course material and
recognize implications and extensions of the material and concepts to the real
life and industry. All calculations are accurate.

Student’s arguments or positions are mostly supported by
evidence from the readings and course content; ideas presented demonstrate
student’s understanding of the material and concepts and may relate to the real
life and industry occasionally. Two of the calculations are accurate.

Student’s arguments are more often based on opinion or
unclear views than on position grounded in the readings of material or external
sources of material. Three of the calculations are accurate

There is no meaningful attempt to explain or support ideas
or the application/examples are superficial and unrelated to the
material/industry. None of the calculations are accurate

Student demonstrated full understanding of requirements;
responded to each aspect of assignment: correctly developed required document
format.

Student demonstrated general understanding of requirements;
missed one minor aspect of assignment; the document format is missing one
element

Student demonstrated some understanding of requirements;
missed a key element or two minor aspects of assignment; the document format is
missing two or more elements

Student did not demonstrate understanding of assignment
requirements; the document format is not followed

Student’s writing is clear and easy to follow; grammar and
spelling are all correct; formatting gives a professional look and adds to
readability, no APA style errors

Most ideas are presented clearly; occasional spelling and/or
grammar issues (no more than 3), attempts in-text citation and reference list
but 1 or 2 APA style errors are present

Wordy; some points require rereading to understand fully;
more than 3 occasional spelling and/or grammar errors, attempts in-text
citation and reference list; APA style errors are present; inconsistencies in
citation usage can be found throughout the document

Very difficult to understand, poorly written in terms of
mechanics and structure

Due Date