Understanding Financial Statements

The income statement, balance sheet, and statement of cash flows are three major financial statements that present varying snapshots of an organization's financial position. For this Discussion, you will examine the purposes and components of two of these statements-the income statement and the balance sheet-and consider how they may be utilized within health care organizations.

Describe one or more significant insights or questions related to the purposes and components of the balance sheet and the income statement.

Describe one or more challenges you encountered, or that managers might encounter, in interpreting financial statements. Explain what accounts for these challenges and how they might be addressed.

Discuss any key information found in the financial statements for a health care organization, and explain why it is important to this particular organization. Share the financial statements by attaching a document or posting a link to the statements if this information is publicly available.