[MO2] Accounts Payable [Tier 01]
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| show | involved the process of identifying, recording and communicating economic events
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| accounting formula | show 🗑
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| show | the total amounts owed by the practice to suppliers
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| show | the total dollar amount of the outstanding payments or claims due to the office from patients and customers
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| assets | show 🗑
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| balance sheet | show 🗑
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| show | a formula that determines how efficiently and timely an office is collecting payments for services rendered by the physicians
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| show | a formula that demonstrates the cost of a specific procedure or service
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| show | an analysis that allows for program evaluation by demonstrating whether the benefits received will outweigh its costs
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| show | consumed, emptied, exhausted
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| show | an accounting method of recording transactions that provides an equality of debits and credits
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| equity | show 🗑
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| show | actual payment of cash or cash equivalent for goods or services
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| financial records | show 🗑
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| show | includes the total payments received by a practice for a specific period of time
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| show | demonstrates the profit and expenses for a given month
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| invoice | show 🗑
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| liabilities | show 🗑
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| show | the study and analysis of financial data as it applies to operational issues within a company
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| net collection ratio | show 🗑
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| show | assets minus liabilities, which demonstrates the value of a business
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| show | the information that is needed on a day-to-day basis in order for a company to conduct business
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| show | a manual bookkeeping system that uses a lightweight board with pegs to track the physicians day sheet transactions, patient ledgers and deposits
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| show | a small amount of cash available for small business expenses; used for postage stamps, inexpensive office supplies and small charitable donations
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| trial balance | show 🗑
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| show | a document that serves as proof that the terms of a transaction have been met
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| show | an expense usually deemed uncollectable by any business
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Created by:
MaesterRay
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