Accounting Skills Are Useful to Nurse Managers in Carrying the Day-To-Day

Accounting skills are useful to nurse managers in carrying the day-to-day activities of their respective departments. Furthermore, nurse managers must have a working knowledge of the basic reporting formats common to the acute care setting which directly impacts their charge. Choose the correct reporting format which corresponds to the appropriate activity.One of the most important financial documents of any nursing department is the balance sheet. The balance sheet gives you a detailed picture of your department's financial position at a given point in time. The best definition of a nursing department balance sheet is:

A) The balance sheet is a 'snapshot' in time of the assets and debts and represents the value of the nursing department at that time
B) The balance sheet is a summary of all incoming and outgoing transactions, credits and debts associated with a specific nursing department at a given point in time
C) The balance sheet is a summary of account balances on a given date, typically due at the end of a month, quarter, or annually
D) The balance sheet is a statement of net worth hospital administrators look at when deciding financial unit allotments