.Peer 1:  Financial competence is very important for healthcare leaders and organizations in today’s everchanging industry.  Financial stability is a key indication of an organization’s success.  Consistent financial reporting by healthcare organizations allows trends to be captured and evaluated.  Without account trends, there is no way to know how to respond to financial challenges. ‘Financial accountability ties directly to the organization’s mission, vision, values, and strategy in order to achieve mission-advancing financial performance: a balanced scorecard outcome’ (Menaker, White, & France, 2020).   There are three financial reporting statements that provide the overall health of an organization These reports include: balance sheet, income statement, and cash flow summary. The balance sheet is a summarization of the organization’s assets, equity, and liabilities.  It basically indicates what the organization’s net worth is.  The balance sheet provides information on how the organization is performing. Next financial report is the income statement.  This report provides both revenue and expenses incurred. It is a way to trend expenses and revenue over time.  These values are what provides the bottom line. Lastly is the cash flow summary.  This report summarizes and explains what the sources and use of cash are.  This includes from operating, investing, and financing activities.  It identifies where cash payments are made, which can assist in determining what the organization’s requirements are for cash to run the business.  Menaker, R., White, R. J., & France, T. J. (2020). Principal principles: Critical accounting and financial concepts for healthcare leaders. Peer 2:  Financial reporting is basically a process in which a company or organization discloses its financial information or performance over a period of time, typically on a quarterly or an annual basis. Accountability is one word that comes to my mind as I research on this discussion topic. When an organization is able to give account of all its financial activities, it shows a high level of responsibility because it helps the company measure its viability and sustainability. Financial reporting should be adopted by health organizations of all kinds — public, private, for profit, not-for profit, etc., so that they can keep up with their financial condition or status. Furthermore, they can make reasonable comparisons between the years, and that could guide them to determine the progress made so far, and the areas that they need to improve on. ‘If a company is experiencing a downward trend line in financial performance, a greater potential for continued adversity exists for that company than for a company with lower immediate earnings, but with a positive financial trend line’ (Galasso, 2001). A prudent way to avoid this is to maintain consistent and meticulous financial reporting. It may also behoove healthcare organizations to generate a balance sheet. ‘Although balance sheets may seem cumbersome to maintain, they’re critical to have when you’re evaluating the financial strength and solvency of your business’ (Nicholson & Venkateswaran, n.d.). A balance sheet gives a summary of an organization’s expenditure, assets, liabilities and net assets.   Another benefit financial reporting affords an organization is ensuring that the organization is in compliance with the law. The Sarbanes-Oxley Act, a Federal act that was passed in 2002 following a number of accounting misconducts, also addresses financial reporting in that it emphasizes the need for accountability and transparency. As much as this act alleviated fraudulent activities thereby favoring investors, there were complaints that it didn’t favor smaller companies. A report completed by the US Securities and Exchange Commission (SEC) in 2006 revealed that small-scale companies with a market value below $100 million paid a sizeable amount in compliance fee than their large-scale counterparts. The steep fee resulted higher retention of profits for large-scale companies at the expense of small-scale companies. Consequently, start-up companies were met with the strain of bridging the fee margin (What is the Sarbanes-Oxley Act?, n.d.). References CFI. (n.d.). What is the Sarbanes-Oxley Act? Retrieved January 28, 2022, from https://corporatefinanceinstitute.com/resources/kn… Galasso, J. (2001). Health section news. Society of Actuaries. Retrieved January 28, 2022, from https://www.soa.org/globalassets/assets/library/newsletters/health-section-news/2001/arch-3/hsn-2001-iss41-galasso.pdf Nicholson, E. & Venkateswaran, A. (n.d.). For a Picture of Your Organization’s Financial Health, Check Your Balance Sheet. Retrieved January 28, 2022, from https://www.healthcarenewssite.com/newsletters/wa-…

Mastering the Art of Online Learning: Your Guide to Acing Online Courses

Introduction

In recent years, the popularity of online courses has skyrocketed, offering learners the flexibility to acquire new skills and knowledge from the comfort of their homes. However, succeeding in online courses requires a different approach compared to traditional classroom settings. To help you make the most of your online learning experience, this article presents essential strategies and tips to ace your online courses.

1. Set Clear Goals and Plan Ahead

Before embarking on an online course, establish clear goals and objectives. Determine what you hope to achieve by the end of the course and break down your goals into manageable milestones. Create a study schedule that aligns with your other commitments, ensuring you allocate dedicated time for coursework, assignments, and revision.

2. Create a Productive Study Environment

Establishing a conducive study environment is crucial for online learning success. Find a quiet, well-lit space where you can concentrate without distractions. Remove any potential interruptions, such as notifications from social media or email. Organize your study materials and have a reliable internet connection to ensure seamless access to course materials.

3. Actively Engage in the Course

Active participation is key to mastering online courses. Engage with course materials, including videos, readings, and interactive components. Take comprehensive notes, highlighting key concepts and ideas. Participate in discussion boards, forums, and virtual meetings to interact with instructors and peers, fostering a sense of community and enhancing your understanding of the subject matter.

4. Manage Your Time Effectively

Online courses offer flexibility, but it’s essential to manage your time wisely to avoid falling behind. Create a detailed schedule, allocating specific time slots for coursework, assignments, and studying. Break down larger tasks into smaller, manageable segments to prevent procrastination. Prioritize tasks based on deadlines and dedicate focused time to each one, ensuring consistent progress throughout the course.

5. Develop Effective Communication Skills

Online courses often rely on written communication, making it crucial to hone your skills in this area. Be concise and clear in your written responses, paying attention to grammar and spelling. Actively participate in discussions, asking thoughtful questions and providing constructive feedback to your peers. Regularly check your course emails and notifications, ensuring you stay updated with any important announcements or changes.

6. Utilize Available Resources

Take full advantage of the resources provided by your online course platform and instructors. Familiarize yourself with the learning management system (LMS) and explore its features. Access supplementary materials, such as textbooks, lecture slides, and external resources recommended by instructors. Utilize online libraries, research databases, and tutorial services to deepen your understanding of the subject matter.

7. Stay Motivated and Engaged

Maintaining motivation throughout an online course can be challenging, particularly when faced with competing priorities or a lack of face-to-face interaction. Set short-term goals and reward yourself upon their completion. Connect with fellow learners through virtual study groups or online forums to foster a sense of camaraderie. Regularly remind yourself of the benefits and personal growth associated with completing the course successfully.

8. Seek Support and Clarification

Don’t hesitate to seek support or clarification when needed. Reach out to your instructors for guidance or clarification on course material. Utilize online discussion forums to ask questions or engage in collaborative problem-solving. Leverage the support services provided by your course platform or institution, such as technical support or academic advising.

Conclusion

Online courses present unique opportunities for self-paced learning and personal growth. By setting clear goals, creating a productive study environment, actively engaging with course materials, and managing your time effectively, you can maximize your chances of acing online courses. Remember to stay motivated, seek support when needed, and make the most of the available resources. Embrace the flexibility and adaptability of online learning to achieve your educational goals.