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HR Finance 101: A Guide To Finance for HR

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For example, when a business purchases a new asset worth $1,000 on credit, the amount would be entered as a debit in the equipment (asset) account and a credit in the accounts payable (liability) account. A transaction is entered into an accounting record, typically in the ledger. Financial HR metrics to consider.

Cash Flow 123
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Capital Expenditure Budget Examples In The Healthcare Management Industry

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Managers use benchmarking to learn from other healthcare organizations and set comparative metrics to hit realistic targets. Within this, basic accounting terms must be familiar to the hospital manager, such as accounts receivable (AR), which involves money owed to the organization. Contract management. Capital Budgeting.