[Get Answer] What is Consumer Price Index (CPI)? For restating financial statements to convert to constant dollars,the Financial Accounting Standards Board (FASB) use CPI. What is the role of FASB?

Health Services Management Finance Discussion Questions (6)
Experts only! Scholarly responses are required.
*Please answer each question individually and accurately. Must cite any and all references in APA format.
Label each solution with the corresponding question. Copy and pasted solutions will NOT be accepted.
Minimum 2-3 quality paragraphs per question
Part A: Accounting Conventions and Methods
1. Discuss the accounting conventions that affect the application of accounting principles.
2. Managerial accounting is the link between financial accounting and the manager. To what extent do
you agree or disagree with this statement?
3. What is Consumer Price Index (CPI)? For restating financial statements to convert to constant dollars,
the Financial Accounting Standards Board (FASB) use CPI. What is the role of FASB?
Part B: Financial Performance
1. Explain why it is important to know the scope of business being reviewed when using financial
statements.
2. Financial reporting communicates to all stakeholders the current standing of the organizations. It
keeps the leaders and board abreast with time. Managers are able to use the reports to steer the
organization in the right direction. Class, what is balance scorecard? Describe the balance scorecard and
dashboard reporting. What are some of the importance of these reports?
3. What is the difference between Operating expenses and operating revenue?

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