Reporting Practices

Jessica Knott

October 17, 2011

Reporting Practices and Ethics Paper

Jay Christensen

Reporting Practices and Ethics Paper

Financial management is what rates the success of a company or organization. Financial reporting practices and ethics have created a whole new world of literature. The background has come from theories and addressing accountability measures of different companies and organizations. Professionals and theorists have given a new outlook on accountability measures. Their education and experience gives the industry the tools needed to survive, grow and prosper. The way a company gets ready to prepare and report their financial information and handles its daily operations is in essence financial practices, and in the way it accomplishes this reveals their ethical standards to which they adhere to. This essay will discuss the financial practices, ethical standards, and financial management in health care.

Financial management

Reporting Practices and Ethics

Financial reporting practices and ethics have manifested an ocean of literature. This has mainly come from organization theorists that address accounting practices. These theorists and professionals have given fresh accountability measures. Their ideals give this industry the tools needed to survive, grow and prosper. The way an organization prepares and reports its financial information and handles its daily operations is in essence financial practices, and in the way it accomplishes this reveals their ethical standards to which they adhere to. This paper will discuss the financial practices, ethical standards, and financial management in health care.

Financial management in simple terms is a management of finances for an organization. The goal of financial management is to achieve financial objectives, and can be broken down into four phases. The four elements of financial management are: planning, controlling, organizing and directing, and decision making (Baker &...