step by step solution with explanation Q. Financial AccountingThe supply chain manager at Desert View Hospital implemented a new medication tracking systemthat monitors three critical factors for controlled substances. Each factor contributes to a dailycompliance score: accurate counts worth 40 points per item, proper storage conditions worth 35points, and documentation accuracy worth 25 points. During yesterday's audit of 200 items, 192 hadaccurate counts, 188 met storage requirements, and 195 were properly documented. The pharmacydirector must determine the overall compliance percentage to report to the regulatory board.

Explanation of Accurate Counts:Accurate counts refer to ensuring the precise quantity of controlled…

Answered: Q. Financial Accounting The supply…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter13: Lean Manufacturing And Activity Analysis

Section: Chapter Questions

Problem 1MAD

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Organizing a Risk Analysis. You are the director of internal auditing of a large municipalhospital. You receive monthly financial reports prepared by the accounting department, andyour review of them has shown that total accounts receivable from patients has steadily andrapidly increased over the past eight months.Other information in the reports shows the following conditions:∙ The number of available hospital beds has not changed.∙ The bed occupancy rate has not changed.∙ Hospital billing rates have not changed significantly.∙ The hospitalization insurance contracts have not changed since the last modification 12months ago.Your internal audit department audited the accounts receivable 10 months ago. The auditdocumentation file for that assignment contains financial information, a record of the riskanalysis, documentation of the study and evaluation of management and internal risk mitigation controls, documentation of the evidence-gathering procedures used to produce evidenceabout the…
using a sample Third-Party Accounts Receivable Report attached a.Describe how data are utilized by an organization in healthcare audits. Consider the following: Which data are important to a revenue-cycle audit? How are the different components of the accounts receivable report used to inform an auditb. b. Describe how to establish parameters for collecting benchmarking data in healthcare audits. Consider the following: How do you determine which data are appropriate for benchmarking? What should you consider when setting parameters for benchmark data?
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Match the following terms and descriptions. 1. Audit planning 2. Preventive Controls 3. System Evaluation and Selection 4. Recovery Operations Centre (ROC) 5. The Sarbanes/Oxley Act Section 404 Identify optimal solution from alternatives. Involves feasibility study and cost-benefit analysis steps. In the event of a major disaster, a subscriber can occupy the premises and, within a few hours, resume processing critical applications. The auditor's objective is to obtain sufficient information about the firm to plan the other phases of the audit. Requires the management of public companies to assess the effectiveness of their organization's internal controls Passive techniques designed to reduce the frequency of occurrence of undesirable events.
Summarize the valuation method's calculation and discuss how it relates to fraud investigations. Be sure to identify the type of industry the valuation can be used for. The value of a first-year community pharmacy residency program (CPRP) at an independent pharmacy was estimated based on time allocation for resident responsibilities. Methods: Predefined time allocation categories for the pharmacy resident were used to consistently classify and document time completing residency activities. Benefit-to-cost ratio was determined by tabulating total costs and total benefits of the residency program. A retrospective-prospective comparison of overall change in revenue, operating expense, and prescription volume was performed between the preresident time period (July 2012 to June 2013) and the postresident time period (July 2013 to June 2014). This comparison accounted for resident activities that did not directly generate revenue. Results: Time allocations for the resident out of 2,221…
Aurora Radiological Services is a health care clinic that provides radiological imaging services (such as MRIs, X-rays, and CAT scans) to patients. It is part of Front Range Medical Systems that operates clinics throughout the state of Colorado. a. What type of key performance indicators and other information would be appropriate to display on a data dashboard to assist the Aurora clinics manager in making daily staffing decisions for the clinic? b. What type of key performance indicators and other information would be appropriate to display on a data dashboard for the CEO of Front Range Medical Systems who oversees the operation of multiple radiological imaging clinics?
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Q: Applied with audit risk model for planning Identify and explain SIX audit risks that exist in the audit of Hope-well Limited?
Pareto chart and cost of quality report for a service company The administrator of Liberty Hospital has been asked to perform an activity analysis of the emergency room (ER). The ER activities include cost of quality and other patient care activities. The lab tests and transportation are hospital services external to the ER for determining external failure costs. The result of the activity analysis is summarized as follows: Instructions 1. Prepare a Pareto chart of the ER activities. 2. Classify the activities into prevention, appraisal, internal failure, external failure, and other patient care activities. Classify the activities into value-added and non-value-added activities. 3. Use the activity cost information to determine the percentages of total ER costs that are prevention, appraisal, internal failure, external failure, and other patient care activities. 4. Determine the percentages of the total ER costs that are value-added and non-value-added. 5. Interpret the information.
Star audit firm have started the annual audit of Carrefour Muscat. The auditors have a long meeting with their management. Their target is to conduct the audit during one week. The auditors have started their work. identify which of the following is related to their audit process. O a. Discussing corrective action plan O b. Identifying the risk Oc Conduct interviews O d. Create audit procedure and plan
Use the sample data and confidence level given below to complete parts (a) through (d). A drug is used to help prevent blood clots in cortain patients. In olinical trials, among 4202 patienta treated with the drug, 120 developed the adverse reaction of nausea. Construct a 96% confidence interval for the proportion of adverse reactions a) Find the best point estimate of the population proportion p. (Round to three decimal places as needed.)

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