DLM (ASCP) Exam Practice Questions

The factors considered during the forecasting stage of project volumes include expert opinion, statistics, historical data, shifts in patient mix, changes in medical staff composition, changes in inflation/reimbursement rates, expansion/cutbacks, and population fluctuations based on the economy.

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The steps to creating a budget are as follows:1. Project volumes2. Convert volumes to revenue3. Convert volumes into expense requirements4. Adjust revenue/expenses as necessary to meet budget margin.

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Gross revenue is calculated by multiplying the rates by the production unit (billable test volume).

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Examples of expenses in a clinical pathology setting include salaries/wages, reference service, instrument lease, maintenance contracts, and education/travel.

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Financial statements convey the financial status of an organization. The four main types of financial statements are the income statement, balance sheet, statement of changes in equity, and statement of cash flows.

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An income statement summarizes the operations of an organization with a focus on its revenues, expenses, and profitability. It contains operational results over a period of time.

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Depreciation is a noncash charge against earnings on the income statement that reflects the wear and tear on a business fixed assets (property and equipment). It represents the loss of value over time.

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Salvage value is the amount received when final disposition occurs at the end of an assets useful life.

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