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HCS 405: Financial Reporting Practices And Ethics

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HCS 405: Financial Reporting Practices And Ethics
Reporting Practices and Ethics
Michele R. Morris
HCS/405
December 18, 2010
Todd A. Brown Reporting Practices and Ethics
Financial practices and ethical finance are important in the health care industry. Both are important to produce a successful health care organization. Here we will discuss the four elements of financial management, generally accepted accounting practices, and general financial ethics standards.
Financial Management There are four elements of financial management (Baker &Baker, 2011). The first is planning. Financial planning is when one identifies the steps that need to be taken for an organization to reach its objectives. The second element is control. This means controlling each area of an organization,
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