Find two or three articles that address financial reporting practices and ethical standards in health care finance, including Generally accepted accounting principles and Corporate compliance, ethics, or fraud and abuse.
Discuss the financial management of health care organizations and integrate your research articles.
Include a summary of the four elements of financial management.
Include a summary of generally accepted accounting principles and general financial ethical standards.
Provide examples from the articles that reflect ethical standards of conduct and financial reporting practices.
Explain the significance of each example.
Hope you are well.
The reporting practices of financial activities and ethical standards within the healthcare industry entail the basis of accounting principles including ethical framework consistency. Within the healthcare industry, the financial reporting entails the principles under the GAAP. The compliance of using GAAP principles provides the guidelines in adhering to certain international final reporting standards. The daily operations of reporting the financial data within a healthcare organization entails the accountability to the business activities within a given timeframe. In accessing the daily healthcare operations the overall internal accounting processes are essentially important - to represent the current status of the business financial standing.
Let's also take a look at several elements within a core financial management assessment within a healthcare organization:
The four elements of financial management
In preserving the core principles of financial management, the overview of financial assessment entails areas that provide proficiency. By doing so, the healthcare organization can successfully assess the profitability or efficiency in managing of finances is up to certain standards. The CFO of the healthcare organization is a key component for leading the facility towards a more proficient establishment that adheres to the GAAP and IFRS. The CFO fully understands that support the operations in monitoring core area of focuses for promoting a sense of responsibility towards financial planning. The following relates towards the four elements of financial ...
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