Happy Hospital Scenario
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Running head: HAPPY HOSPITAL
Happy Hospital Scenario
University of Phoenix
November 2, 2009
Happy Hospital Scenario
Happy Hospital wants to start preparing for the new year. The organization are to prepare financial statements for the end of 2007 year and to determine if the organization has the can purchase much needed items. This paper answers the questions, what is budge performance report? What information is relevant for Happy Hospital? How ethics influence accounting decisions?
Budget Performance Report
Budget performance report allows the organization to monitor actual revenues and expenses against the projection made in the budget. The organization need to know when revenue is low or expenses are high so that they may respond immediately to the problem. This instrument allows the organization to prepare the budget for the next year from the actual result.
A budget performance report would give Happy Hospital an actual picture of the low revenue and high expense situation they are currently facing. The financial manager and program manager can discuss any shortfalls or excess in revenue or expenses to determine what adjustment are need to make correction. Once the organization makes the corrections and the results are positive the process for next year budget can be made.
Ethical Influence
Ethics deals with the good, bad and the moral duty or obligation, In addition, ethics is a person’s moral principle or value or a system of moral values. Ethics is the moral fiber of an individual, which assist with the decision making process or determining right from wrong.
In business, ethics acts as a principle or theory that helps to guide behavior in the business world. Accountings are faced with ethical choices when preparing financial reports, and these choices affect the consumer, wages, product, and services. Providing misleading information can have catastrophic effects at every level of an organization. That is why ethical...
Happy Hospital Scenario
University of Phoenix
November 2, 2009
Happy Hospital Scenario
Happy Hospital wants to start preparing for the new year. The organization are to prepare financial statements for the end of 2007 year and to determine if the organization has the can purchase much needed items. This paper answers the questions, what is budge performance report? What information is relevant for Happy Hospital? How ethics influence accounting decisions?
Budget Performance Report
Budget performance report allows the organization to monitor actual revenues and expenses against the projection made in the budget. The organization need to know when revenue is low or expenses are high so that they may respond immediately to the problem. This instrument allows the organization to prepare the budget for the next year from the actual result.
A budget performance report would give Happy Hospital an actual picture of the low revenue and high expense situation they are currently facing. The financial manager and program manager can discuss any shortfalls or excess in revenue or expenses to determine what adjustment are need to make correction. Once the organization makes the corrections and the results are positive the process for next year budget can be made.
Ethical Influence
Ethics deals with the good, bad and the moral duty or obligation, In addition, ethics is a person’s moral principle or value or a system of moral values. Ethics is the moral fiber of an individual, which assist with the decision making process or determining right from wrong.
In business, ethics acts as a principle or theory that helps to guide behavior in the business world. Accountings are faced with ethical choices when preparing financial reports, and these choices affect the consumer, wages, product, and services. Providing misleading information can have catastrophic effects at every level of an organization. That is why ethical...