Answer TWO of the following questions: 3. What are the three steps in finan

Answer TWO of the following questions: 3. What are the three steps in financial analysis? Why is financial analysis important in management of todays healthcare organizations? What ratio classifications were discussed in class and in the text? Using a common ratio as an example discuss the value of ratio analysis and operating indicators. 4. What are the three major reasons that an organization must understand its costs? Describe the activities involved in costs analysis including cost behavior cost allocation and breakeven analysis. Is the benefit worth the effort? 6. What are the major financial statements? What is their purpose? Describe the format and content of each one and how they interrelate. How do the financial statements of investor owned and not-for-profit organizations differ.