Ethics And Reporting Practices In Healthcare Organizations

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Shaquila Turner Reporting Practices and Ethics Paper March 28, 2011 HCS/405 David Catoe Reporting Practices and Ethics Paper Financial management of health care organizations is faces with many ethical standards and reporting practices. Organizations must report all financial data the proper way to ensure that it is true and factually. Handling the financial side poorly will and can show a different side of the organization. The organization can lose money which will affect many people that is working with the company or working for the company. The person that is has an effect on will be the employees, customers,…show more content…
Financial accounting is those who deal with the others parties outside of the organizations. The people and organizations that they help are government ran programs. The financial accounting has outside recipients that deal with the data. The reports that are taken must follow certain guidelines. The guidelines come from the general accepted accounting principles also know as (GAAP). Managerial accounting the main focus is on the inside things and customers and those who can build budgets and financial projections (Baker & Baker,…show more content…
Consistency is the accountants duties they must stay the same in the methods and techniques and it must remain the same throughout the year. Regularity makes sure the notes, books, and accounts are updated and the tax returns and other information are given when needed. Sincerity comes in effect where the accounts must remain truthful and accurate on the information that they are giving to the clients to keep them financial stable. Continuity is when any assets is accepted over time and the value change and then it can be taken as collateral. Periodical they should report everything overtime to with all transactions. Prudence comes in affect to help the accountants know that they should list any transaction but not making assumptions on them. Non compensation should be presented it there is a negative in the account and them it must be replaced to bring the account back to a positive. Permanence of methods must be clear as well as all the information that is presented. Anything that is dealing with financial matters must be presented in records to the honesty and fairness between customers and many

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