Reporting Practices and Ethics Paper
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Reporting Practices and Ethics Paper
Grace Hummel
HCS/405
December 17, 2012
Michelle L. Thomas
Reporting Practices and Ethics Paper
Theorists and professionals have given fresh accountability measures. Their ideals give this industry the tools needed to survive, grow and prosper. An organization prepares and reports its financial information and handle daily operations is in essence financial practices, and in the way it accomplishes this reveals their ethical standards to which they adhere to. This paper will discuss the financial practices, ethical standards, and financial management and healthcare. Financial management in simple terms is a management of finances for an organization. The goal of financial management is to achieve financial objectives, and can be broken down into four phases. You can also make of them as a set. They include the balance sheet, the statement of revenue and expense, and the statement of fund balance or network, the statement of cash flows. (Baker and Baker, chapter 4, 2001). Financial manager needs to have a balance sheet to review or perform an audit so they can see the debt to income ratio for the organization they are financially responsible for. The statement of revenue and expense provide a clear financial outlook of the organizations financial situation during certain time periods. This significance of the statement of fund balance or network is to identify cash and property assets of the organization within a year or other period of time. Last is the statement of cash flow is proof of all the profit by the organization during a certain period of time.
There are accounting principles that are generally accepted, while there are some to be cautious as well. According to the University of Phoenix Transparency and Accountability (2005)” I believe it is critical for not-for-profit provider organizations to demonstrate their fiscal integrity by becoming as compliant as feasible with this and other appropriate sections...
Grace Hummel
HCS/405
December 17, 2012
Michelle L. Thomas
Reporting Practices and Ethics Paper
Theorists and professionals have given fresh accountability measures. Their ideals give this industry the tools needed to survive, grow and prosper. An organization prepares and reports its financial information and handle daily operations is in essence financial practices, and in the way it accomplishes this reveals their ethical standards to which they adhere to. This paper will discuss the financial practices, ethical standards, and financial management and healthcare. Financial management in simple terms is a management of finances for an organization. The goal of financial management is to achieve financial objectives, and can be broken down into four phases. You can also make of them as a set. They include the balance sheet, the statement of revenue and expense, and the statement of fund balance or network, the statement of cash flows. (Baker and Baker, chapter 4, 2001). Financial manager needs to have a balance sheet to review or perform an audit so they can see the debt to income ratio for the organization they are financially responsible for. The statement of revenue and expense provide a clear financial outlook of the organizations financial situation during certain time periods. This significance of the statement of fund balance or network is to identify cash and property assets of the organization within a year or other period of time. Last is the statement of cash flow is proof of all the profit by the organization during a certain period of time.
There are accounting principles that are generally accepted, while there are some to be cautious as well. According to the University of Phoenix Transparency and Accountability (2005)” I believe it is critical for not-for-profit provider organizations to demonstrate their fiscal integrity by becoming as compliant as feasible with this and other appropriate sections...