KINNS Chapter 24 – Financial And Practice Management (MOA 112)

accounts payable
Debts incurred and not yet paid
accounts receivable
Amounts owed to the physician.
accounts revievable trial balance
a method of determining that the journal and the ledger are in balance.
accrual basis of accounting
A method of accounting in which income is recorded when earned and expenses are recorded when incurred
The entire property of a person, association, corporation, or estate applicable or subject to the payment of debts
balance sheet
A financial statement for a specific date that shows the total assets, liabilties, and capital of the business
The recording of business and accounting transactions
cash basis of accounting
A method of accounting in which income is recorded when received and expenses are recorded when paid
cash flow statement
A financial summary for a specific period that shows the beginning balance on hand, the receips and disbursements during the period, and the balance on hand at the end of the period
A standard of comparison to make sure answers obtained are accurate
disbursements journal
A summary of accounts paid out
A record or notation of an occurance, transaction, or proceeding
Th monetary value of a property or of an interest in a property in excess of claims or liens against it
in balance
The state in which the total ending balances of patient ledgers equals the total of accounts receivable
A paper describing a purchase and the amount due
Things that are owed; debts
petty cash fund
A fund maintained to pay small, unpredictable cash expenditures
A request for payment
Supporting other documents or records
trial balance
A method of checking the accuracy of accounts
Abbreviation: Problem – Oriented-Medical-Record, Problem oriented medical record-form of record keeping which revolves around a list of patient problems.

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