Page 1 of 3

Reporting Practices and Ethics Paper

Continues for 2 more pages »
Read full document

Reporting Practices and Ethics Paper

Page 1 of 3
Reporting Practices and Ethics Paper
Reporting Practices and Ethics Paper
Crystal C. Chaney
Axia University of Phoenix
Instructor: Sandra DiPetro
HCS 405 Health Care Financial Accounting

Abstract
There are many reasons as to why reporting practices and ethical standards are of the upmost importance in healthcare and in any business. The types of generally accepted accounting principles; to the corporate compliance, ethics, fraud, and abuse are all important factors to be considered in order to maintain a successful business. The four elements of financial management are often used to prevent fraud and embezzlement. I believe every business should adopt good business ethics and standards to maintain a successful organization and a successful working environment for all co-workers; but most of a pleasant environment for the patients.

Reporting Practices and Ethics Paper
The four elements of financial management are; planning, controlling, organizing and directing and decision making. Planning is the identifying of the objectives of the organization and revealing the steps required to accomplish the goals that the organization has set forth to conquer. Controlling is making sure that each area and individual of the organization is following the plans that have been established to the very letter. The manager often uses feedback from reports to see where the organization may need attention and to see what area needs attention in order to be affective. Ensuring that each member of the team is doing their part to make sure that the organization is successful. Organizing and directing is deciding how to use the resources of the organization to most effectively carry out the plans that have been arranged and show each member of the organization how to do so effectively. The manager or team leader would get involved on a day to day basis working hands on with the other members to make sure that the organization is running...

Rate this document

What do you think about the quality of this document?

Share this document

Let your classmates know about this document and more at Studymode.com