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Financial Reporting Practices And Ethics Paper Hcs 405

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Financial Reporting Practices And Ethics Paper Hcs 405
Reporting Practices and Ethics Paper
Mary Kaiser
HCS/405 Health Care Financial Accounting
July 7, 2014
David Albalat

Reporting Practices and Ethics Paper
Introduction
In this paper, we will discuss the financial reporting aspects of accounting and what ethical standards are being met by the health care industry. Our discussion leads us to the four fundaments accounting principles, the generally accepted accounting principles, and the financial ethics of accounting and the code of ethical behavior for managers in the health care setting.
Financial Reporting and Ethical Standards
The National Health Care Anti-Fraud Association (NHCAA) estimates that the financial losses due to health care fraud are in the tens of billions …show more content…
Management needs to have a plan or purpose in motion and gather the necessary information which will make the health care organization successful. Controlling is when the healthcare organization is adhering to the plans that are developed by management. Organizing and directing a plan which the health care organization needs to follow and maintain certain steps, resources and stayed focused on the end result, which is success. The proper decision making choices are through education. The financial team is accountable for making sure the appropriate reports are up-to-date, and they are accountable for reporting the funds with principles set forth by the code of ethics and mission statements of the health care organization. Every organization must be willing to release the financial reports which are deemed to be correct. If a health care organization provides incorrect information, this can be immoral and cause financial difficulties to the …show more content…
Our discussion evolved to the four fundamental accounting principles which the financial manager needs to follow and how to incorporate the generally accepted accounting principles which are provided by the AICPA. The last source discusses the ethical behavior of the financial accounting managers in health care.
References
Author, N. (n.d.) www.fasab.gov. Federal Accounting Standards Advisory Board, Authoritative Source of GAAP. Retrieved from: http://www.fasab.gov/accounting-standards/authoritative-source-of-gaap/#gaap
Author, N. (2012). www.nhcaa.org. Retrieved from: National Health Care Anti-Fraud Association: www.nhcaa.org
Freedman, J. (2014). www.smallbusiness.chron.com. What is an Ethical Issue In Financial Accounting. Retrieved from: http://smallbusiness.chron.com/ethical-issue-financial-accounting-57889.html
Vitez, O. (2014). www.smallbusiness.chron.com. About Ethics in Mangerial Accounting. Retrieved from:
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