Reporting Practices and Ethics Paper

Reporting Practices and Ethics piece HCS/405 Reporting Practices and Ethics Paper In the terra firma of pecuniary reporting, numbers give the gate collapse or recession a club. Growing competition and fall profits ar driving some companies to compromise their honorable standards and falsify collective financial data. These deceptive be constitution methods can cause a once thriving corporation to crumble into dust. Ethics essential be at the drumhead of any healthcare write up department. Fiscal transparency deep down the income statement, balance sheet, cash flowing statement, and statement of equity must(prenominal) all reflect straightforward and integral data in run maintain the financial stability of the corporation. The end aim of financial management is to action the incorporated financial goals for the accounting year. The four elements of financial management are: organizing, planning, controlling, and decision fashioning. Organizin g requires a daily commitment to see to it the proper implementation of the lodges resources. Planning requires management determining the short and long goals of the company and staying on tax to achieve them. Controlling requires making sure that corporate and departmental policies are implemented and adhered to throughout the company. Decision making is a very important setting of financial management. Options and evidence must be thoroughly investigated to begin with making major financial decisions. All of these elements are equally critical to the financial triumph and fiscal longevity of any company. Should these concepts be manipulated or abused, the results can be catastrophic. Unethical accounting practices must not be allowed to infiltrate any corporate accounting department. According to Gallup (2012), related to the three components of ethics is the debt instrument of health-care accounting staff to quell on the leading border of changes in generally origin al accounting principles. They are similarl! y charged with staying current on regulation changes...If you want to overprotect a full essay, order it on our website: BestEssayCheap.com

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