a business that would require you to keep an inventory

  1. Accounting
  • If you were to open your own business (a business that would require you to keep an inventory), what inventory costing method would you prefer? Discuss why you chose the particular inventory costing method and if your costing method would follow the actual flow of your inventory.
  • Discuss whether you think the same person who receives cash payments should also prepare the bank reconciliation. Give a least one reason to support your answer.
  1. Microeconomics
  • Firms, such as Walmart, have used a strategy where the price (marginal revenue) of certain items are intentionally set below the average total cost of production, such as grocery items. Why would firms intentionally lose money on certain goods? Do you think this strategy works? Why, or why not? Would (or does) it work on you?
  • Pick one of the four market structures covered in this unit (perfect competition, monopolistic competition, oligopoly, or monopoly). For the market structure you choose, provide one example of a firm that operates in this market structure, and briefly explain why the firm would or would not meet each of the characteristics of your selected market structure. Do you agree with the structure and explanations provided by your classmates?
  1. Health Care Financial Management
  • Healthcare organizations strive to manage working capital in such a way that they can reliably cover their short-term expenses while also getting the best possible benefits from their capital. In managing working capital, healthcare organizations face some common challenges, as well as other challenges that are particular to the institution. What do you think the main capital management challenges would be in a for-profit facility that has a constant stream of revenue? How do you think these challenges would differ from a military hospital that is given its funding at the beginning of the year?
  • Bring to mind a wide range of healthcare organizations, such as a long-term care facility, large for-profit hospital, a physicians’ practice, Veterans Affairs hospital, or a state-run clinic. Consider how budgeting would be influenced depending on an organization’s sources of funding. How do you think the purposes or uses of a budget vary according to the kind of healthcare organization it is?

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