Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

3. Accrual Accounting Concepts

Closing Entries

Financial Accounting

3. Accrual Accounting Concepts

Closing Entries

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Multiple Choice

Which of the following steps comes immediately after checking out patients in the standard revenue cycle?

Posting charges and payments to patient accounts

Collecting patient demographic information

Scheduling patient appointments

Verifying insurance eligibility

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Verified step by step guidance

Understand the concept of the standard revenue cycle in financial accounting, which involves managing the financial aspects of patient care in healthcare organizations.

Review the sequence of steps in the standard revenue cycle, which typically includes scheduling appointments, verifying insurance eligibility, collecting patient demographic information, checking out patients, and posting charges and payments to patient accounts.

Identify the step that comes immediately after checking out patients. This involves ensuring that all charges for services provided and payments received are accurately recorded in the patient accounts.

Recognize that posting charges and payments to patient accounts is a critical step for maintaining accurate financial records and ensuring proper billing and collections.

Confirm that the other options, such as collecting patient demographic information, scheduling appointments, and verifying insurance eligibility, occur earlier in the revenue cycle process.