Financial Statements
This financial statement reports the revenues and expenses for a period of time such as a month, quarter or year.
What is an income statement?
Abbreviated as G.A.A.P, this is the framework of accounting standards, principles, and procedures in the United States
A business' ability to earn money and continue to grow in both the short and long-term
What is profitability?
An account that is presented on the balance sheet and represents the expenses that have been paid in advance.
What is Prepaid expense?
AmeriHealth Caritas Pennsylvania was founded in West Philadelphia by the Sisters of Mercy in this year.
What is 1983?
A businesses ability to earn money and continue to grow in both the short and long term.
What is profitability?
This principle requires companies to account and report assets' and liabilities' acquisition costs rather than fair market value.
What is the Cost Principle?
The ability to maintain positive cash flow while paying immediate obligations
What is liquidity?
An account that represents short-term, highly liquid investments that are convertible to known amounts of cash
What are cash equivalents?
In 1999, the Company acquired this entity as our first Medicaid plan out of state
Select Health of South Carolina, Inc.
This report categorizes net cash provided or used during a period as operating, investing, and financing activities, and reconciles beginning and ending cash and cash equivalents
What is the statement of cash flows?
This principle refers to the requirement that revenue is recorded when earned, not when received.
What is the Revenue Recognition Principle?
An intangible asset recognized when a company acquires another; represents the difference between the purchase price and the fair value of the acquired company's identifiable assets and liabilites.
What is goodwill?
An account that represents the obligation for the business to deliver some amount of products or services because cash was received from customers in advance.
What is unearned revenue?
This number represents the number of states that AmeriHealth Caritas operates in (not including DC)
What is 13?
A financial statement that shows how and why an owner's equity or capital account has changed over a specific financial period.
What is a Statement of Owner's Equity
This principle describes the process of reporting expenses incurred from methods of revenue production when said revenue has been generated, instead of taking place when the service or product is invoiced or paid for.
What is the Matching Principle?
A reserve set aside by insurance companies to cover the potential estimated cost of claims that have been incurred but have not yet been reported.
What is IBNR? (Incurred But Not Reported)
A contra-asset account that represents the total amount of an asset's cost that has been expensed over the assets useful life.
What is Accumulated Amortization?
In Newsweek's 2024 List of America's Top 100 Most Loved Workplaces, AmeriHealth Caritas was listed this rank out of 100, up 5 places from the previous year.
What is 66th?
This line item within the Shareholders' equity section of the balance sheet, represents the cumulative total of all items that are not included in net income but affect a company's financial position.
What is Accumulated Other Comprehensive Income (AOCI)?
This determines that companies declare necessary information when reports on financial status are conducted, to whomever is undertaking the assessment.
What is the Disclosure Principle?
The magnitude of an omission or misstatement of accounting information that, in the light of surrounding circumstances, makes it probable that the judgement of a reasonable person relying on the information would change or be influenced.
What is materiality?
An account used to represent the amount of inventory which the borrower has determined is unmerchantable due to limited shelf life.
What is Morgue Inventory?
This AmeriHealth Caritas associate's father was a professional Major League Baseball catcher who played 11 seasons in the MLB for the New York Yankees before his untimely death
Who is Kelly Munson?