Cost:

Free for HFMA Members
Buy HFMA Membership to Attend

Audience:

Hospitals and Other Providers
Business Partners

Career level:

Experienced Professional
Mid-Senior
Executive

Recommended for:

Financial Planning
Accounting
Auditing

Delivery Method:

Self Study

Advance Preparation:

None

Prerequisites:

None

Course Availability:

18 Months

Live Webinar | Accounting and Financial Reporting
<div>A 2019 benchmarking survey of 40 of the top 100 U.S. IDN's has revealed that health systems lose up to $1.2 M per every $1B in annual spend.&nbsp;</div><div><br></div><div>This financial leakage persists because hospitals and health sy...
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Podcast | Accounting and Financial Reporting
Ed Giniat, a partner at KPMG, discusses the challenges of financial reporting during the coronavirus crisis and the guidance his organization has issued on the topic.
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On Demand Webinar | Overview | Accounting and Financial Reporting
Most healthcare provider organizations perform patient accounting transactions and general accounting transactions in separate systems. Even though recent advances in technology have increased the opportunity to collect patient level activi...
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Live Webinar | Accounting and Financial Reporting
<div>Sponsored By <a title="" href="https://www.infor.com/" target="_blank">Infor</a><br><br>Most healthcare provider organizations perform patient accounting transactions and general financial accounting transactions in separate systems. E...
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Certification | Overview | Accounting and Financial Reporting
The CSAF recertification program is recommended for active, eligible HFMA CSAF certificants with an upcoming maintenance due date of October 1, 2020*. Not sure when your CSAF expiration date is? Sign in, click your profile image in the uppe...
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Course | Intermediate | Accounting and Financial Reporting

Accounting Oversight and Internal Control

Course | Intermediate | Accounting and Financial Reporting

Accounting Oversight and Internal Control

Description

This course explains the five components of internal control, paying particular attention to the specific categories of accounting and administrative internal controls. The course summarizes each provision of the Sarbanes-Oxley Act of 2002 and explains the makeup, function, and standards of the Public Company Accounting Oversight Board. The course describes auditor responsibilities, defines key auditing terms, and explains how and why operational audits should be carried out.

Estimated course completion time: 1 hour and 15 minutes
After this program, you'll be able to..
  • Identify the five interrelated components that affect management's objectives for an internal control process
  • Identify the characteristics and purpose of an internal control procedure
  • Identify the characteristics and purpose of an accounting control procedure
  • Define briefly the Institute of Internal Auditors' standards for the professional practice of internal auditing
  • Recognize each of the 11 titles of the Sarbanes-Oxley Act
  • Recognize penalties for fraud and other white-collar crimes
  • Recognize what financial disclosures organizations are required to make
  • Recognize the impact the Sarbanes-Oxley Act of 2002 has had on corporate reporting for public companies
  • List the certifications public companies are required to provide in each quarterly and annual report
  • Identify the responsibilities for internal controls assigned to CEOs and CFOs of public companies
  • List the functions of the PCAOB
  • Identify auditor responsibilities under PCAOB standards
  • Define key auditing terms used by PCAOB
  • Identify how an operational audit ensures that management objectives and organizational policies are effectively carried out
  • Recognize the role of a hospital or health system's internal audit department
  • Define briefly the Institute of Internal Auditors' standards for the professional practice of internal auditing

Related Courses | Accounting and Financial Reporting

On Demand Webinar | Overview | Accounting and Financial Reporting

How to connect financial results with clinical outcomes

Most healthcare provider organizations perform patient accounting transactions and general accounting transactions in separate systems. Even though recent advances in technology have increased the opportunity to collect patient level activity data at the time of resource utilization, Enterprise Resource Planning (ERP) applications have traditionally focused more on resource procurement and maintenance, than resource utilization. For reason this reason, it continues to be difficult to accurately connect financial results with clinical outcomes.

This webinar will discuss how healthcare organizations can better leverage data about patient activities and resource utilization to overcome the challenge of connecting financial results to clinical outcomes.

On Demand Webinar | Basic | Revenue Cycle

Managing financial complexity: Synchronizing revenue cycle and finance teams

Healthcare finance teams face many unique challenges that can slow down processes and negatively impact the patient satisfaction. Provider consolidation, new reimbursement models, and rising consumerism and technology changes can make insurance and patient payment processes time consuming, expensive and prone to error. This webinar will examine new strategies providers are simplifying processes, reducing costs, and building stronger collaboration between the revenue cycle and finance teams. Hear how these strategies can help your organization decrease cost to collect, reduce AR days, improve working capital, and enhance the patient payment experience.

Original live webinar date: 11/20/19

On Demand Webinar | Basic | hfma:content/topic/strategic_partnershipsmergersandacquistions

Getting the full value out of your transaction/acquisition plan

As the health care industry continues to consolidate, health system leaders are facing increasing pressure to aggressively acquire scale. With opportunities including acquisition or divestiture of individual hospitals, health systems, and physician practices, the M&A landscape has become even more complex. Additionally, shrinking margins and changing payment mechanisms also put greater pressure on realizing the expected value of a transaction through strategic, operational, and financial alignment.

This webinar will explain strategies for achieving the full value of your transaction by exploring frameworks and case studies for developing transaction value and defining strategic intent; conducting value focused diligence across 6-8 high value areas; and transitioning from deal planning and execution to integration planning and implementation.

We will present approaches to develop a replicable playbook that addresses that continuum, from due diligence and deal structure, Day 1 Readiness planning, and post-merger integration approaches. In addition to sharing some tested methodologies to enable achievement of the strategic and operational premise of any transaction, we will also share lessons learned from more challenging, and even failed transactions.

Original live webinar date: 11/19/19

Certification | Overview | Accounting and Financial Reporting

Certified Specialist Accounting & Finance Recertification

The CSAF recertification program is recommended for active, eligible HFMA CSAF certificants with an upcoming maintenance due date of October 1, 2020*. Not sure when your CSAF expiration date is? Sign in, click your profile image in the upper right corner, select My Development, and then click on the Certifications tab near the center of the page. You'll see your certifications along with their expiration date.


HFMA requires that eligible CSAF certificants gain continuing competence in the accounting and finance arena by taking a short assessment every two years. This program provides healthcare organizations with a means to ensure that their staff has the body of knowledge necessary to meet their demands. 

CSAF recertification course outline:
  • Financial Planning and Budgeting
  • Financial Reporting: Liabilities and Long-Term Debt
  • Financial Reporting: Relationships and Procedures
  • Financial Reporting: Revenue and Assets
  • Accounting Oversight and Internal Control
Assessment information:
This online program includes the above recertification courses and a recertification assessment. The assessment has 50 multiple choice questions and you have 90 minutes to complete it in one sitting. The passing score is 70%. If you do not pass on the first attempt, there is a mandatory 30-day waiting period. Please keep this in mind, as the deadline to complete the recertification assessment (to maintain your certification) is October 1, 2020*.

*During this unprecedented time HFMA is committed to meeting the need of its certified individuals. HFMA is implementing a certification maintenance grace period to allow for additional time to meet the recertification requirement. The maintenance deadline will be extended from May 31, 2020 to October 1, 2020.