Eco2a Assignment Example | Topics and Well Written Essays - 500 words

Eco2a - Assignment Example One major difference in the recording of transactions that exists between the two types of organizations in is the fact that profit based organizations maintain only one general ledge whereas non-profit organizations maintains several ledgers depending on the number of projects being funded (Articlesbase, n.d.). Another main difference in the recording of transactions between the two types of organizations is in respect of recording equity. In Non-profit organizations, transactions are recorded under net assets while in the profit oriented organizations, owner’s equity applies. With the fund management recording system characteristically applied by non-profit organizations, each donation is classified and utilized with respect to the limitations set by specific donors or group of donors. This is, however, not the case for profit oriented organizations where funds are used and classified without such limitations (Articlesbase, n.d.). In conclusion, the main difference in the recording of information in profit oriented and non-profit oriented organization relates to the maintenance of ledgers, recording of equity, and limitations regarding the use of funds. Articlesbase (n.d.) For-profit Vs. Non-profit: The Difference in the Accounting System. Retrieved from http://www.articlesbase.com/software-articles/forprofit-vs-nonprofit-the-difference-in-the-accounting-system-1548973.html Medical records management is vital for every healthcare organization. As the name suggests, the medical records department deals with the recording of patients’ medical records. A patient’s medical record includes details of bio-data, diagnosis, medical history, treatments, examinations and tests (Beck, 1989). The department helps in the efficient running of the hospital as well as in the proper care of patients. For example, medical coding and documentation helps provide quality services through the sharing information of patients’ records appropriately. The

Operations management-report Essay Example | Topics and Well Written Essays - 3000 words

Operations management-report - Essay Example Additionally, key focus is on managing people in an effective manner where skill sets are analysed and accordingly responsibilities are offered in a systematic and planned manner. It was also found that Just in Time concept has helped the organisation in eliminating chances of huge wastage along with responding to the changes in the business and social environment. Overall, it was concluded that Total Quality Management (TQM is also practiced by the organisation helping in maintaining high quality standards. All these initiatives have helped the company to strengthen its operational framework along with being successful. Slack, et al (2010) stated that operations management is concerned with designing, controlling, and overseeing production processes along with redesigning business processes for better production of goods and services. Hill and Hill (2011) added that operations management ensures that business operations are efficient enough to use little but impactful and robust resources exceeding customers’ expectations in a meaningful manner. Simon (2010) added that operations management is concerned with the conversion of inputs in the form of raw material and energy into the output offering value and benefits to a number of customers. Slack, et al (2010) further added that operations management has a close relationship with business operations and the success of the later can only define the success of the former. In this regard, it is important to analyse the business operations and processes in a critical manner. Heizer and Render (2010) added that the senior management needs to develop business strategies and line officers need to take tactical decisions in order to make business operations successful. Simon (2010) stated that the success of operations management is dependent on formulating robust business objectives along with aligning