Risk Management and Quality Management Teshiya Camacho HCS/451 December 5, 2012 Mike Anderson Risk Management and Quality Management Questions | Risk Management | Quality Management | How does the leadership and governance of a health care organization influence the development and implementation of risk-management and quality-management policies? | By protecting the company’s assets, this is important for planning and organizing it also helps with preventing any sort of risks that may come about to patients. Also it will emphasize cost effective ways of going about the business. | Ensuring that desired level of quality is brought out and makes sure that all the participants are conducting themselves within the required procedures. This will generate profits due to its cost effective nature.This will also ensures that the public health care organization grows by showing its viability.
This information gather is viewed through use of the four financial statements that are made available by accounting departments. The income statement, retained earnings statement, balance sheet and the statement of cash flows are the four financial statements available for users. Each statement is supported by each other and each statement is independent of each other as well. The financial statements have their own purpose but when each statement is available it tells the financial story of a company and shows that accounting is very important and necessary in today’s
Each of the four statements provides important organizational financial data for any user internal or external to analyze. When preparing financial statements they need to be
This paper with discuss the four elements of financial management, the generally accepted accounting principles (GAAP), and why are the universal
True (f) The objective of financial reporting is the foundation from which the other aspects of the framework logically result. True E2-4 Instructions Identify the appropriate qualitative characteristic(s) to be used given the information provided below. (a) Qualitative characteristic being employed when companies in the same industry are using the same accounting principles. Comparability (b) Quality of information that confirms users’ earlier expectations. Confirmatory value (c) Imperative for providing comparisons of a company from period to period.
Reporting Practices and Ethics Paper Sharon Tucker HCS/405 May 13, 2013 Elizabeth Caissie Abstract The implementation of financial reporting and ethical standards are crucial for the growth and progression of an organization. Reporting fairly and accurate data will help control measurements that may address theft and/or fraud within the structure. Ethical standards are vital for the development in an organization’s set rules and policies in having quality in the services provided including integrity, values, and delivering effective outcomes in honesty. Generally accepted accounting principles (GAAP) are set guidelines which indicate rules, regulations, and procedures that are implemented for the maintenance and/or monitoring records. An organization that provides a financial statement to the public, investors or government funding entities must follow the set standards developed by Financial Accounting standards Board (FASB).
Therefore, participants tend to pay close attention to which medical services they receive and what those prices are. As participants shop around for the best prices, they are in better control over their medical expenses and services. However, if an individual is prone to desiring many medical tests and services performed and would rather not think about the price of the service or the necessity of the service, the individual may end up paying more money than he or she would like because of the high deductible. Therefore, a Health Savings Account is often more desirable for individuals who are discriminatory when it comes to their health care expenses and
The healthy people would have to pay the burden of sick people. Patients may have to wait a long time for treatments. In conclusion, I have talked about the history of health care reform. I talked about the current legislature in Congress for health care reform. I have discussed the advantage of the consumer driven health plans.
The conceptual framework is a dominate form of normative accounting theory and Godfrey, et. al (2006, p. 412) dictate a conceptual framework in the context of financial accounting as “a definitive statement of the nature and purpose of financial accounting and reporting and which provides guidance for all accounting practice”. The Financial Accounting Standards Boards believes a conceptual framework to be integral as it adds a level of rigor and discipline that will result in more consistency in final statements and general modes of practice (The Financial Accounting Standards Board (2001). The primary function of this framework is to provide agreed standards, to remove the ambiguity and personalisation of the decision making process. Hence a conceptual framework is a firm example of normative accounting theory as it is prescriptive, detailing how practices should
2. Reliability: With moral principles clients are able to rely more on the Accountants. The nature of the work carried out by accountants and auditors requires a high level of ethics. Shareholders, potential shareholders, and other users of the financial statements rely heavily on the yearly financial statements of a company as they can use this information to make an informed decision about investment. They rely on the opinion of the accountants who prepared the statements, as well as the auditors that verified it, to present a true and fair view of the company.