What would you do in the following situations?
Not what you're looking for?
What would you do in the following situations?
1. You walk into a new job and find that there are hundreds of accounts payable checks sitting in drawers. At this point you have no idea how much cash is available and you must meet a payroll of $100,000 in 2 days. Where would you start? What would you do?
2. You are faced with the last days of a computer conversion and you are receiving calls that people have paid their bills, yet were not being credited for the payments. You later find no copies of receipts, yet the patients sent you copies of theirs. You know there was theft. How do you address it? How do you prove it? There were 4 people who had signed receipts. The total stolen was $10,000. Do you report it? Do you handle it yourself?
3. Imagine that you are the administrator of a nonprofit community hospital. You have been approached by medical staff from two different departments (for example, pediatrics and radiation therapy) who are equally convinced that their respective areas of specialty need major new pieces of high technology capital equipment that will greatly enhance patient care in each department. Knowing your hospital has limited resources for capital expenditures, what information do you need to gather? Once you have gathered this information, how will you go about deciding which department, if either, should get the equipment?
4. You are the nursing supervisor responsible for general medical/surgical units consisting of 50 beds. For the first time the chief financial officer has asked you to prepare a budget for your area of responsibility. Describe the process you will use to accomplish this task, including the information you will need, and the important steps in the process.
Purchase this Solution
Solution Summary
What would you do in the following situations?
1. You walk into a new job and find that there are hundreds of accounts payable checks sitting in drawers. At this point you have no idea how much cash is available and you must meet a payroll of $100,000 in 2 days. Where would you start? What would you do?
2. You are faced with the last days of a computer conversion and you are receiving calls that people have paid their bills, yet were not being credited for the payments. You later find no copies of receipts, yet the patients sent you copies of theirs. You know there was theft. How do you address it? How do you prove it? There were 4 people who had signed receipts. The total stolen was $10,000. Do you report it? Do you handle it yourself?
Solution Preview
1. I will start with evaluating the current bank balance/cash position to ensure that the bank account has sufficient cash to meet the immediate need of 100,000 in the next 2 days. Further, I will enquire regarding the incoming funds coming in the next few days, so that I have clear idea of incoming payments that can be used to meet the payment obligations.
If the working capital situation is such that organization will not be able to meet its short term liabilities and payroll related payments, I will review the entire situation and present my analysis to ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
Recent Feedback
- "Thank you. "
- "Thank you"
- "Thank you. I got 20/20 last week for my discussion you help me out with."
- "Thank you. Great Job. "
- "Thank you. Great Job. "
Purchase this Solution
Free BrainMass Quizzes
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.
Managing the Older Worker
This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking
Lean your Process
This quiz will help you understand the basic concepts of Lean.
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.