Analysis of Financial Management Efficiency of Tha Rong Chang Hospital, Surat Thani Province, Fiscal Year 2014-2018

Abstract

The retrospective study research aimed to 1) analyze the efficiency of financial management efficiency of Tha Rong Chang Hospital 2) compare the financial ratios of Tha Rong Chang Hospital with criteria for evaluating financial crisis level 7 during fiscal year 2014-2018. Population and sample included the information/data from financial statements of Tha Rong Chang Hospital (Financial Statement) for the past 5 years (2014-2018), consist of trial balance statements, financial statements, and current operating statements. Data were collected from financial reports of financial and accounting division, general administrative department, Tha Rong Chang Hospital. The data were collected for a period of 5 fiscal years (1 October 2013 - 30 September 2018). It is a secondary-data analysis consisting of 1) trial balance statements, 2) financial statements, and 3) current operating statements of Tha Rong Chang Hospital. The descriptive analysis to comparative data ratio between financial status of the hospital and standard. The research revealed that the asset-condition liquidity of Tha Rong Change Hospital is efficient in managing the working capital ratio which tends to increase in a better direction. In addition, the working capital ratio is close to the benchmark. Also, there is the ability to manage quick ratios and cash and cash equivalents to current liabilities that are higher than the benchmark in 2018. However, it must be vigilant when spending money and must have careful financial management in order to prevent the financial crisis.