https://bookshelf.vitalsource.com/reader/books/9780133802757/pageid/73
eBook: https://www.vitalsource.com/educators/products/ems-finance-jeffrey-t-lindsey-ph-d-v9780133802757
Answer the review questions from the book above.
Answer the review questions on page 57 of your EMS Finance
(Links to an external site.)
textbook. Be sure to tailor any specific questions to either fire, EMS, or emergency management according to your specialization.
Answer the question such that you are critically thinking what the impact will have on your organization or the community. In other words, critically think about your answers as if you are the chief of the department or a CEO. Please do not just answer the question with concepts found in the text.
Submission Requirements
Your response should be no less than 2-3 pages of written responses to the questions.
Include paraphrased wording of the question or at a minimum, the question number, before your response.
Answers will provide the detail necessary for the reader to understand your thoughts and what you have learned. One or two sentence answers are NOT adequate for developing the response.
Similarity scores are expected to be less than 20%. Similarity scores greater than 40% will automatically be returned for rework and resubmission. Avoid using the author’s ideas or quotes to answer the questions. They can support your ideas, but cannot be used to answer the questions.
If the question states “list” it also requires a discussion on what is listed. Avoid just listing items to answer the question – explain the meaning of the list or the items in the list.
Information that is acquired from a source must be cited in APA format.
References should be cited in the body of the paper in APA format.
Multiple valid sources must be used.
Sources are peer-reviewed journals (primary), books and trade journals (secondary), news publications or other non-vetted sources (opinion pieces)
Wikipedia is not a source.
Your completed paper should be double-spaced, in 12-point Times New Roman font, with title page, abstract, conclusion, and reference list, following the APA format. It should be saved as a Word (*.doc, *.docx) file and uploaded here using the following naming convention:
m03_a03_FES3753_FirstnameLastname.doc
Enter the following on the Title Page of your paper:
Course Name: FES3753: Financial Management
Module Number and Assignment Name: Module 3 Paper
Student Name
Today’s Date: month/day/year
Instructor
Paper formatting
Title Page
Abstract page
Body of Paper
Conclusion Page
Reference Page
1. How do GAAP principles affect decision making by the EMS manager, and why should the EMS manager become familiar with these concepts?
2. When looking at accounting principles, how does the EMS manager use concepts such as marginalism to decide what the organization should or should not do relative to providing service to the community?
3. When performing an assessment of the financial position of the organization, how does the EMS manager ensure that the measurement of revenue matches the actual cash in and cash out?
4. Explain how important is inventory control to the success of the organization?
5. When determining inventory, how does the manager objectively look at all the incurred
expenses to determine the ultimate cost of ordering supplies for the organization?
6. Why is determining inventory costs important to negotiating reimbursement from payers?
7. How does depreciation affect the revenue of the organization in terms of cash flow and determining asset value?
8. Why is the distinction between concept definitions and operational definitions important?
9. In Figure 3.1, financial accounting is shown as part of management accounting. Discuss the logic underlying this concept.
10. Conceptually, how do public accounting, governmental accounting, and management accounting differ?
11. Explain how cost accounting is linked to tax accounting, financial accounting, and managerial accounting.
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