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Chapter-17 Chart of Accounts

BOOK TITLE: Financial Management for Hospital Administration

Author
1. Kulkarni GR
2. Satyashankar P
3. Gomes Libert Anil
ISBN
9788184486247
DOI
10.5005/jp/books/10306_17
Edition
1/e
Publishing Year
2009
Pages
6
Author Affiliations
1. Mumbai, Maharashtra, India
2. SDM College of Medical Sciences and Hospital, Dharwad, Karnataka, India
3. Kasturba Medical College and Hospital, Manipal, Karnataka, India, Father Muller Medical College and Hospital, Mangalore, India, e-mail: anilmdha@outlook.com
Chapter keywords

Abstract

This chapter is supposed to result in: 1. Speedy preparation of statutory accounts. 2. Preparation of monthly Profit and Loss Statement and Balance Sheet expeditiously each month in case of smaller hospitals whose accounts are not computerized: (a) Treatment of similar transactions in an unambiguous and uniform manner. (b) Assist in inter-hospital comparison. (c) Locate accounts easily. (d) Have logical coding structure. (e) Be able to reduce time for writing accounts identity number and minimize possibilities of errors. (f) Be easy to remember and identify. (g) Should be flexible with a scope to add or omit accounts. A good accounts code should be preceded by: 1. An up-to-date organisation chart with chart of account consistent with the organization structure. 2. Clear cut segregation between revenue and capital expenditure and business and other income. 3. Provision for incorporation of significant quantitative data to the extent it is meaningful and useful.

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