?Access the following financial statements from The Moreno Medical Center, accounting homework help

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Access the following financial statements from The Moreno Medical Center Virtual Organization website: https://multimedia.phoenix.edu/virtualorgs/moreno-medical-center/

  1. The balance sheet from: Home >> Administration>>Chief Financial Officer>>Financial Statements>> 2013 – 2012 Balance Sheet (Audited)
  2. The income statement from: Home >> Administration>>Chief Financial Officer>>Financial Statements>> 2013 Interim Statement of Income (Unaudited)
  3. The cash flow statement from: Home >> Administration>>Chief Financial Officer>>Financial Statements>> 2013 – 2012 Statement of Cash Flows
  4. The Budget from: Home >> Administration>>Chief Financial Officer>>Budgets>> 2013 Operating Budget Projections

Answer the following questions based on your assessments of the financial statements.

  1. Compute and report at least four of the ratios identified in the statements (quick ratio, current ratio, or other)
  2. Summarize what each ratio measures.
  3. Investigate how the organization is performing based on industry standards for those ratios.
  4. Compute cost variances.
  5. Compare your cost variance computations with the variance report at: Home >> Administration>>Chief Financial Officer>>Budgets>> 2013 Operating Budget Varience Report
  6. Analyze cost variances and propose tactics to align actual results to budget.
  7. Defend how benchmarking helps improve budget management and give examples.

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