Essay Examples on Profit and Loss

Disadvantages of piece rate remuneration systems

Disadvantages of piece-rate remuneration systems. Less attention to quality. The workers would focus more on trying to produce more quantity of products in the attempt of trying to make more money and producing the product the fastest way possible, rather than focus on the quality and result in the production of blew average quality products because payment for the worker is made on the basis of output. Wastage use of materials. Since employees work to produce faster without putting effort into the efficiency to increase production, an excessive wastage of materials is to be expected due to their efforts to obtain maximum output. Wages. Because of the relationship between the quantity of output and wages the employee will face a decrease in pay if he did not meet the number of units that required. Also having minimum wage could lead to some employees coming to work and giving no effort and getting paid. Some workers would focus their time to produce the best quality product that they can rather than produce more and they suffer because will not be composited for good quality that is produced.

1 pages | 372 words

The financial statements for Community Hospital

The financial statements for Community Hospital delineate the organization's standings for the 2012 and 2013 fiscal years. The organization's current assets listed as 188 million 2013 and 176 million 2012 this representation shows the organization had more liquidity in 2013 than the previous year. Assets Cash and money on deposit are always the first line item on a financial statement as it the primary source to pay debts Finkler 2013. The hospital experienced increases in cash marketable securities inventory and prepaid expenses. However, in account receivables, the hospital decreased in net dollars reporting 44 million 2013 from 60 million in 2012. Bad accounts patients not paying their bills contractual allowance and uncollected copayments could account for part of the 16 million dollars decrease in account receivables Finkler 2013. Fixed assets are categorized as buildings and equipment minus depreciation, plus land, therefore the hospital showed a net increase reporting 320 million 2013, from 280 million 2012. Including intangible assets, the hospital reported 598 million 2013, from 556 million 2012 in total assets. In respect to liabilities and net assets. Community Hospital's total current liabilities increased to 94 million in 2013, from 78 million in 2012.

1 pages | 336 words