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Whether you're walking a tightrope or scribbling in your checkbook, balance is a good thing. And, one of the best ways to evaluate a company is to glance at its balance sheet to see what it owns with what it owes.
The balance sheet is a paragon of simplicity and is made up of three components: assets (the stuff it owns), liabilities (the money it owes), and shareholders' equity (the company's value to its shareholders).
Assets take two forms: short-term (or current) assets and long-term assets. Under short-term, there¿s good ol' hard cash. Then, there¿s something called "cash equivalents," which are assets like short-term bonds that can be sold so quickly, they might as well be cash. There you factor in inventory, which (if you're a reasonably competent business owner) you can sell to customers in return for--you guessed it--cash. (The raw materials a company owns to make that inventory also falls under this category.)
Long-term assets are things that are harder to convert into cash. (Think real estate and equipment.) Long-term assets depreciate, meaning they lose some value over time. Also under the long-term category are what's called intangible assets: things like patents and brands, that are important, but hard to quantify. Accountants earn their stripes figuring out the real overall value of these assets.
Once you know your assets, it's time for liabilities. As with assets, liabilities are separated into short-term or current, and long-term. Current liabilities are what a company owes in that year: Things like payments to employees or accounts payable to suppliers. Long-term liabilities are debts paid over several years.
Shareholders' equity is determined by subtracting the liabilities from the assets. That number represents the value of the company after all its bills are paid.
Obviously, investors should pay close attention to balance sheets. Spikes in the amount of debt carried, or a reduction in shareholders' equity, are usually red flags.
Home / Personal Finance / On Topic / Health Care
Thursday, July 03, 2008
Self-Diagnosing Online? What You Need to Know
Meghan Sharp
FOXBusiness
Doctors are learning they have to strike a delicate balance in the information age.
The Internet has made it easier than ever to learn about health problems. Simply type the symptoms into a search engine and watch as hundreds of possible diseases and treatments fill the screen. As a result, patients are entering waiting rooms with more information than ever before.
But, the information isn’t always valid, and physicians are finding that the information often adds time and money to the doctor-patient relationship.
"Patients that come in with a stack of info that isn't scientific, and mostly promotional, from a support group, is rarely helpful, said Dr. Roger Harms, an obstetrician and editor-in-chief of mayoclinic.com. “You often have to take considerable time that you could spend helping the patient, debunking the information."
In addition, some people who search for health information online are frightened by what they come across. Many patients want certain tests out of fear from what they read on the Internet. Take whole-body MRIs, which are requested by otherwise healthy patients just to rule everything out. Mostly, these find nothing serious and are usually denied when the patients and doctor submit the tests for insurance reimbursement. That means the patient, and sometimes even the doctor, has to foot the bill.
Even though tests can be costly, on occasion doctors will administer them if they believe it will ease the patient's mind. "If I think their anxiety is going to be so strong that they'd be better off getting the test, I'd say OK" said Dr. Dan Merenstein, director of research in family medicine at Georgetown University.
In the end, it’s a judgment call. "It depends what the test is, how invasive it is, and how expensive it is," said Fox Medical Contributor and OB-GYN Jennifer Ashton, MD. "The doctor's job is to inform the patient why or why not certain treatments aren't an option."
Despite the negatives of higher costs and lost time, many physicians are learning to embrace the health Web site phenomenon, as long as patients are getting the right kind of information. "I often refer my patients to the internet as an adjunct," Ashton said. "I'd rather have my patients have a background, but I think it can be dangerous when patients try to use the Internet as a cookbook for being a physician themselves".
Dr. Peter Liggett, a retinal surgeon with a private practice in Connecticut, also sees the Internet as an important tool to improve the way patients are treated. He often directs patients to his practice's Web site to learn more about emerging technology and treatment options. "It's a good way for physicians to have an additional way to communicate information to their patients, and I think that's a positive thing," Dr. Liggett says.
Sites like mayoclinic.com and webmd.com have hundreds of physicians that contribute content. However, “We never try to substitute for a physician's judgment,” said Dr. Steven Zatz, executive vice president of WebMD. “Our goal is to strengthen the relationship between patients and doctors.”
Harms, of the Mayo Clinic, advises those looking for health information on the web to stay away from sites that have an agenda. "It's best to avoid those that are obviously sponsoring a product or service that have a blurry line between the advertising content and the editorial content," he said.
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