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Slides for Class 5 and 6 H ADM 545 February 7th and 14th, 2002

This presentation provides an introduction to financial statements and discusses how the Omega Health Foundation (OHF) displays its financial status and productivity to the general public. It includes an overview of OHF's organizational structure, notes to the combined statements, balance sheet, statement of revenues and expenses, statement of cash flows, and statement of changes in unrestricted net assets.

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Slides for Class 5 and 6 H ADM 545 February 7th and 14th, 2002

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  1. Slides for Class 5 and 6H ADM 545February 7th and 14th, 2002 The 4 key financial statements in an accounting entity’s financial history

  2. Introduction to Financial Statements How the Omega Health Foundation (OHF) displays its Financial status and productivity to the general public

  3. Synopsis of Chapter 5 on Financial Statements • Organizational Structure • Notes to combined statements for OHF • Balance sheet • Statement of Revenues and Expenses • Statement of Cash Flows • Statement of changes in Unrestricted Net Assets

  4. OHF’s Organizational Structure Omega Psychiatric and Psychological Associates Omega Institute of Psychiatry Omega Psychiatric and Psychological Associates Omega Medical Management Inc. Omega Institute of Psychiatry

  5. Notestocombinedstatements forOHF • Basis for Presentation • Summary of significant Accounting Policies • Third party agreements • Charity care, community expense, and Bad debt • Property, Plant and Equipment and Accumulated Depreciation and amortization

  6. Notestocombinedstatements forOHF(continued) • Long-Term debt • Funds held by trustees • Retirement Programs • Insurance coverage • Restructuring costs

  7. Assets Current Assets Property, plant and equipment Assets that have limited use Other Assets Investments Deferred financial costs Intangible assets: goodwill Liabilities + Net Assets Current Liabilities Non-current Liabilities Long term debt Accrued retirement costs Accrued insurance costs Deferred third party payments + Unrestricted net assets Balance sheet

  8. Revenue patient services revenue other revenues non-operating gains (losses) Operating Expenses salaries and wages fringe benefits professional fees supplies interest on borrowed capital bad debt expense depreciation and amortization restructuring costs Statement of Revenues and Expenses

  9. Statement of Cash Flows(Sources of cash compared to Uses of Cash)(Cash coming into OHF minus cash going out) • Cash flows from operating activities and gains and losses • Cash flows from investing activities • Cash flows from financing activities • = • Net (decrease) increase in cash and cash equivalents from beginning to end of year

  10. Statement of changes in Unrestricted Net Assets • Balance of Unrestricted Net Assets at the beginning of the fiscal year • + Excess of revenues over expenses • + Change in net realized gains and losses on other than trading securities • + Decrease in unrecognized net periodic pension cost • = Balance of Unrestricted Net Assets at the end of the fiscal year.

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