Homework help from our online tutors - BrainMass. These healthcare financial executives, CEO and CFO, are the final points of authority on the organizations financial statements and, like a judge in a high level trial, are the final arbiter on all financial matters concerning the organization. Based upon the persistent scrutiny financial statements receive the pressure experienced by these top executives is intense.
Get Full Essay Get access to this section to get all help you need with your essay and educational issues. The success of an organization depends on the financial reporting practices and the ethical standards incorporated by the institution.
Understanding the four elements of financial planning, generally accepted accounting practices GAAPand how to practice financial ethical standards to ensure accurate and fair reporting is the responsibility of the health care organization.
Holding employees and management to a standard of working within these acceptable guidelines to avoid fraudulent reporting is the responsibility of the health care organization.
Organizations must examine examples of failures by other companies to report within ethical and reporting standards to understand the impact of errors made in financial management. Financial Management Financial management is vital to the success of a health care organization.
These four steps are also outlined in Health Care Finance: These four steps are the accepted steps in the finance arena. Planning is the first step in financial management. Planning occurs at the beginning of the financial management process to identify the goals and objectives that the health care organization requires fulfilled.
The second step in financial management is control. Controlling happens when the staff fulfills the objectives to achieve the guidelines set forth by financial management. The third step in financial management is organizing and directing. Organizing allows financial management to decide how to use the resources from the health care organization in the most effective ways to gain the financial benefit desired by the health care organization.
Directing allows financial management the ability to follow through the entire four-step process to ensure the effectiveness of the planning and controlling. The final step is decision-making by financial management.
Sabapathy et al., had assessed reporting ethical issues in Indian physiotherapy journals and found that ethics committee clearance was mentioned in % of studies, informed consent in % studies, and assent in 50% of the studies. Reporting Practices and Ethics Christine Crumity HCS Module R4 October 10, Barbara Archer Reporting Practices and Ethics Reporting practices and ethics are the seams of health care accounting and management. Find two or three articles that address financial reporting practices and ethical standards in health care finance, including the following topics: Generally accepted accounting principles Corporate compliance, ethics, or fraud and abuse.
Good, thoughtful decision-making at every step of the financial management process to allow changes benefits the entire projects final success.
Generally Accepted Accounting Practices Generally accepted accounting practices form the basis of financial accounting for organizations.
GAAP also reflects the standards of federal financial regulations. GAAP are an agreed upon collection of processes set forth and used to process, prepare, and present financial data. Generalizing the accounting practices allows use in various organizations and business types. General Financial Ethical Standards An important aspect of GAAP, the general financial ethical standards allow accurate and factual reporting by and accountant or financial manager.
Integrity in financial management is a key element in ensuring that the financial reporting for a health care organization is based on the facts of the data gathered. Fraudulent Financial Reporting Testing of ethics in financial management happens on a daily and routine basis.
Research articles reporting on health care organizations that have violated the ethical guidelines because of poor financial management are easy to find and becoming more abundant.The Belmont Report was written by the National Commission for the Protection of Human Subjects of Biomedical and Behavioral Research.
The Commission, created as a result of the National Research Act of , was charged with identifying the basic ethical principles that should underlie the conduct of biomedical and behavioral research involving human subjects and developing guidelines to.
Reporting Practices and Ethics Paper HCS/ November 25, Jay Christensen Reporting Practices and Ethics Financial Management is a fundamental part of successful healthcare financial planning.
Financial decisions are a necessary part of day to day operations of any . Reporting Practices and Ethics Paper Nicole McLaughlin HCS/ December 8, Jack Heinen Reporting Practices and Ethics Paper This paper will seek the financial reporting practices, ethical standards, accounting principles, corporate compliance, ethics, or fraud and abuse in the articles that was chosen to be reviewed.
Reporting Practices and Ethics The financial management of health care organizations have the obligation to integrate financial reporting practices with ethical standards that directly reflects and affects health care patients, providers, policymakers, and the society.
Find two or three articles that address financial reporting practices and ethical standards in health care finance, including Generally accepted accounting principles and Corporate compliance, ethics.
The ethical practices of each of these parties are equally important to ensuring patients receive high quality, safe care. To successfully operate within a culture of ethics and integrity, organizations should focus on the following best practices: Always tell the truth. Truth is always the best policy.