The CEO of a 400-bed hospital has scheduled a board of directors meeting to discuss the current financial situation of the hospital and steps that need to be done to correct some current problems. The CFO needs to send each board member an explanation of the financial statements that they will be discussing. You are the Director of Finance and he has asked you to put together a memo, explaining each statement. Do the following:
- Provide a copy of the most common four statements used within your hospital and what information is available in each.
- Make sure you explain each main components/section of each statement.
NOTE: You can develop your own set of statements or research and pull healthcare financial statements online.