1. List several ways a computerized
financial management system benefits a medical practice.
a.
b.
c.
d.
e.
2. What projection does the office manager
look at to determine how much actual cash should be
available each month?
_________________________________________________________________________
______________________________________________________________________________________________
3. Income received and expenses paid are
presented in a report called a _______________________________
______________________________________________________________________________________________.
4. What important report is used to begin a
financial analysis of a medical practice? ____________________
______________________________________________________________________________________________
5. Explain an insurance aging report and
list ways it can be broken down for analysis. __________________
______________________________________________________________________________________________
______________________________________________________________________________________________
______________________________________________________________________________________________
______________________________________________________________________________________________
6. What are some of the things that are
looked at and learned when an office manager analyzes a medical
practice’s productivity?
a.
b.
c.
d.
7. An office manager calculates the
accounts receivable ratio in order to determine how well which person
is performing his or her job?
______________________________________________________________________________________________
______________________________________________________________________________________________
______________________________________________________________________________________________
8. To track the accounts payable,
expenditures are recorded in a _____________________________________.
9. Name some responsibilities of the office
manager or medical assistant when he or she is in complete
charge of the payroll.
a.
b.
c.
d.
e.
f.
10. What law covers minimum wage and
overtime standards? __________________________________________
11. The office manager must post notices in
the medical office according to the _________________________.
12. Explain how to obtain a tax
identification number for a physician-employer.
______________________________________________________________________________________________
13. Why do you have an employee complete an
Employee’s Withholding Allowance Certificate, Form W-4?
______________________________________________________________________________________________
14. Under FICA, both the __________________
and __________________ contribute at a rate specified by law.
15. Name three programs financed under
Social Security (FICA) from one payroll tax, and list what they
provide.
a.
Program 1:
_________________________________________________________________________________
Provides:
__________________________________________________________________________________
b.
Program 2: _________________________________________________________________________________
Provides:
__________________________________________________________________________________
c.
Program 3:
_________________________________________________________________________________
Provides: __________________________________________________________________________________
16. List three names used for state
disability insurance deductions.
a.
b.
c.
18. List several optional payroll
deductions; also called _______________________________________________.
a.
b.
c.
d.
e.
f.
g.
19. How often must employers report
payments by using Form 940?
______________________________________________________________________________________________
20. In what publication does the Department
of the Treasury, Internal Revenue Service, publish submission guidelines and
requirements for quarterly reports, federal tax deposits, and unemployment tax
payments?
______________________________________________________________________________________________
21. The employer’s quarterly federal tax
return must be filed by an employer on or before _______________,
_______________, _______________, and
_______________ on Form _______________.
22. Spell out the following payroll
abbreviations.
FICA
_________________________________________________________________________________________
FUTA
________________________________________________________________________________________
UCD
_________________________________________________________________________________________
23. Agnes Baker terminated her employment
with Dr. Jeffries on August 31. What document must be given
to her by the employer and what is the time
limit?
______________________________________________________________________________________________
______________________________________________________________________________________________
