Why is Accounting Needed and the Basic Accounting Equation

Review the Basic Accounting Equation.  Why is this equation key to understanding the balance sheet, which is one of the foundational financial statements? How would healthcare companies operate without accounting? Review the information contained on the balance sheet and income statement.  Explain the importance of this information to the operations of the organization. Support your view with at least one scholarly source. Your initial response should be at least 250 words.

Health Care Spending

Review the information provided in the Health Care website. Discuss the major financial challenges of health care reform. Support your view with at least one scholarly source . Your initial response should be at least 250 words.

Attached is Chapter 2 from the course materials for this week.

Epstein, L. & Schneider, A. (2014).  Accounting for Health Care Professionals.  San Diego, CA: Bridgepoint Education, Inc.