Why are Financial Statements Important in Nursing?
Financial statements are crucial for several reasons:
Budgeting and Planning: They help in creating realistic budgets and financial plans for future operations. Decision-Making: Administrators use these documents to make informed decisions regarding staffing, equipment purchases, and expansion plans. Compliance: Financial statements ensure that the facility complies with regulatory requirements and standards. Performance Evaluation: They aid in evaluating the financial performance and identifying areas for improvement.
