In previous units, we discussed the importance and purpose of maintaining financial statements. In this assignment, you will interpret those financial statements for a diverse group of stakeholders.
You are the Chief Financial Officer of People’s Community Clinic. You are responsible for delivering a financial overview presentation at the year-end meeting. Your audience will include employees and leadership team members of PCC, financial donors, and community members (who may be potential donors, if they are pleased with the information you present!)
People’s Community Clinic. (2015). People’s Community Clinic Annual Report (Links to an external site.). (Links to an external site.) [PDF]
People’s Community Clinic (n.d.). People’s Community Clinic (Links to an external site.)[Website]
- Using the content of the attached annual report document, prepare a 10-minute Powerpoint or Prezi presentation.
- Include a voice-over or written script (in the speaker’s notes section)
- You may include visuals of the important sections of the financial statements, ensuring the content is easy to read for your audience.
- Create graphs or charts to illustrate important data.
- Your closing two slides should summarize the year-end status, and summarize assumptions for the year in-progress (i.e. do you expect to be profitable, experience loss, why or why not).
- Your final slide should include any references, in APA format, used to complete your presentation.
Being able to concisely summarize financial information is an important skill for a health care manager. For this assignment, you will reference the presentation you created in U6A1, and repackage it for an internal audience.
Continuing your role as CFO of People’s Community Clinic, create a 1-2-page memo for the managers of PCC.
- Summarize the content of your presentation, focusing on key takeaways your managers need to know.
- Graphs and charts aren’t required, but may be included if space allows (your memo should not exceed 2 pages).
- On a separate page, include any references, in APA format, used to complete your presentation and memo.
Please review the rubric to ensure that your assignment meets criteria.
Expert Solution Preview
As a medical professor in charge of creating college assignments for medical college students, financial management is an important aspect healthcare professionals must understand. Financial statements and summaries must be created and presented to various stakeholders for transparency and accountability. In this assignment, we will answer questions related to creating financial statements and summarizing financial information.
Question 1: How would you interpret financial statements for a diverse group of stakeholders?
When interpreting financial statements, it is important to understand the audience and their level of financial literacy. Different stakeholders may have different levels of understanding of financial concepts and terms. It is important to use simple language and to explain any complex terms. Visuals such as graphs and charts may be used to supplement the explanation of financial information. It is also important to highlight the most important information for each stakeholder group. For example, the employees may be more interested in the company’s financial stability and job security, while financial donors may be interested in the company’s financial performance and impact on the community. Overall, interpreting financial statements requires a thorough understanding of the audience and their information needs.
Question 2: How would you concisely summarize financial information for healthcare managers in a memo?
When summarizing financial information for healthcare managers, it is important to focus on key takeaways and important data. The memo should be concise, no longer than two pages, and use simple language that is understandable by healthcare professionals without a financial background. Important financial figures should be highlighted, and graphs and charts may be used to supplement the information. The summary should include recommendations or actions that managers can take based on the financial information presented. Additionally, it is important to reference sources and include any assumptions or limitations of the financial information presented. Overall, the memo should provide a clear and concise summary of the financial information and its relevance to healthcare management.