Health Care Organizations

Topics: Health care, Ethics, Management Pages: 3 (771 words) Published: July 15, 2013
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Reporting Practices and Ethics Paper

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Reporting Practices and Ethics Paper

Reporting Practices and Ethics Paper

HCS405

Within today’s health care finance plans financial management is one of the most important aspects. There are numerous financial decisions that are handled from day to day in reference to accounting records and the business transactions that occur within the organization. The organizations fiscal objectives tackle these decisions. A concern that may arise is the integrity of the health care organization’s financial management department and the accuracy of their records.

GAAP

Generally accepted accounting principles or GAAP are the set of regulations for financial accounting and the jurisdiction of all accounting standards. Along with these guidelines the GAAP includes other important aspects such as conventions, standards, and different rules the accountants within the organization must adhere to during a copy summarization of all the transactions and in doing the usual tasks such as preparing all the financial statements. Any third party involved with these reports need to rely information within the report to be without inconsistencies or flaws. These can help ensure that the GAAP standards are being maintained and adhered to. All business currently states that, "the generally accepted accounting principles serves as guidelines precisely, a group of objectives and verified conventions that were permanently set up over time to standardize how financial statements must be prepared or presented” (FASAB, 2010). Within any organization that deals with the different types of financial data must perform under the accordance of the GAAP standards. This will ensure that any outside creditors are able to view their financial statements without any issues or concerns.

Corporate Ethics

For every group created, there is a committee within the corporate ethics that must maintain...
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