Open AccessInterpreting Organizational-Level Financial Statements
Author(s) -
Todd Smith,
Teresa D. Welch
Publication year - 2021
Publication title -
nursing administration quarterly
Language(s) - Uncategorized
Resource type - Journals
eISSN - 1550-5103
pISSN - 0363-9568
DOI - 10.1097/naq.0000000000000483
Subject(s) - balance sheet , quality (philosophy) , key (lock) , statement (logic) , interpretation (philosophy) , health care , public relations , business , accounting , computer science , political science , philosophy , computer security , epistemology , law , programming language
An organization's financial statements reflect their financial well-being and determine their ability to meet the health care needs of the citizens in their community. It is imperative that nursing leadership recognize the key components of an organization's annual consolidated financial statements, the balance sheet and income statement, and know how to interpret them to provide efficient, high-quality health care and to be successful in their role as nurse leaders. This article provides exemplars of these key documents with detailed instructions for the interpretation and understanding of the organization's financial statements, which will enable the reader to accurately and adeptly interpret their own organization's financial statements, as well as the statements from other organizations.