The (CFO) of your job remembered that you should have completed the first week of the Health Care Accounting class. After reviewing your syllabus, he feels you must have gained the skills necessary to respond to the following questions that he predicts the attendees of the forthcoming Top Management Roundtable will pose to him.

Discuss the conceptual distinction between the accounting terms relating to equity and net assets. Critique the difference between cash and accrual accounting and discuss one significant advantage of accrual accounting over cash accounting. Evaluate the four methods of valuing assets and explain the strengths and weaknesses of each.