Ethics Paper

Reporting Practices and Ethics

In this paper the subject to address is the financial management of health care organizations, a summary of the four elements of financial management, a summary of generally acceptable accounting principles, and general financial ethical standards? In conclusion examples of conduct and financial reporting practices.

Reporting Practices and Ethics

General Accepted Accounting Principles (GAAP) are principles, standards, and procedures that organizations agreed upon when reporting financial statements. These principles must be devoted to, such as those put in play by certain financial boards, and others are just standards that have been ordinary in these statements. Organizations that use Generally Accepted Accounting Principle (GAAP) when making these reports will have a more consistent way of displaying data. This makes the information clear in finding what are needed and difficult for organizations to falsify their figures. GAAP address different aspects of the financial reports, giving the organization a pattern in making this easier to read (Cardinal Money Management, 2011). With these standards like GAAP, organizations must develop a code of ethics that outlines the ethical values that every employee should follow. This code can be shared throughout the organization. In this plan are importance of adhering to Medicare regulations, self-referrals, kickbacks, up coding and documentation of medical necessities. Another area of compliance plan includes providing the employees with an internal hotline number that they can use to report suspected fraud and abuse. The organization must provide compliance education in which employees receive ongoing formal and informal training that addresses the code of ethics as well as any issues or mistakes that the organization has made (Baker &Baker, 2011).

A financial manager must be able to read and interpret all statements in making sure everything is accurate and to...