Reporting Practices and Ethics Paper
November 28, 2011
To produce successful and profitable outcomes, healthcare mangers must implement and execute many important roles within their job. Organizations are expected to uphold and practice the highest ethical behaviors and standards. It is mandatory for successful managers and the employees they work with to be aware of all the elements of financial management, all ethical issues, and be thoroughly versed in all financial practices.
The four acknowledged basic elements of financial management, which are necessary for a healthcare manager to recognize and to understand how this organization works are comprised of the original records; the information system; the accounting system; and the planning system (Baker, 2011).
The healthcare manager needs to thoroughly understand how his or her organization is set up, and needs to know what elements exist and how to make them work for a successful result. Technically it can be broken down fairly clearly in that the original records will show that some kind of event has occurred; gathering this information requires a good information system; the evidence then can by recorded by the accounting system records; and then the reporting system produces reports of what has taken place. It is essential for the healthcare manager to understand and be adept in deciphering reports that are created and contain essential information. This allows the manager to compare the data from previous points in time, it provides a method of numeric coding, assisting the manager in how the money was laid out and how they organized and assembled it. These reports will give the manager important information regarding areas of improvements that will need to be addressed in the organization. Once the reports have been analyzed, the manager must now organize and direct the funds as they are needed. This process is complicated in the fact that the manager must make sure the resources are spent where they are needed most. This requires a manager to check these reports often in order to make the entire organization run in an orderly way and never losing the intention of the organization itself. (Baker, 2011).
KONTORA 2000 PURPOSE The purpose of the information system KONTORA 2000 is to provide organizations with information, which is necessary to perform routine processes, planning, organizing, control and evaluation of work as well as improvement of personnel performance. The main goal during KONTORA 2000 development stage was to create and implement a system, which can provide help in collecting, ...
The information system must be carefully monitored and continually updated. New technology has improved that system, and it is important that organizations invest and train their employees constantly. You could think of it as a flow sheet that maintains the procedures that have taken place and plans for treatment. Not only is the medical information critical, but small things like the correct spelling of a patient’s name, their address must be current or money can be lost tracking the patient down and time must be invested by staff to do the investigation checking and updating these records. A good information system, and an up-to-date system always pays for itself in the long run, and a good manager will stay up-to-date on the improvements and requirements of HIPAA creating an even better organization.
Account charts can be compared to a map. It can basically outline in an organized manner the elements of your organization.
Generally Accepted Accounting Principles, or GAAP, are the guidelines, general rules, or regulations that are followed by accountants in the United States to ensuring that they adhere to all regulations legally and ethically. It explains in simple terms the standards for preparing financial statements, accounting methods and techniques, and managing accounts, which are to be used so that the same standards and practices are used by every organization (CFP Board Censures, 2011.) Again, the goal for the organization is to report transactions, assets, losses, and other accounting problems. This just allows for consistency for organizations when it is time to prepare their financial data plans. GAAP standards were put in place for consistency for organizations when preparing financial data. Also, a main component of GAAP is the composition of ethical practice and that all are based on certain assumptions. One main assumption is that the business is its own entity and that the business will not attempt to sellout or liquidate assets. The American Institute of Certified Public Accountants, or AICPA, is the organization responsible for creating accounting ethical values for the professionals (Vitez, 2011).
"The good old days," is such a great statement. It is really nice to hear older people talk about their lives before a time that I have not known. Some older than me would refer to "the good old days," as maybe an entire decade or certain period in time. I would love to know what it would have been like in the 60's, but I don't think I would have wanted to live during that time. I would have loved ...
Policies must be put in place and followed in order that state and federal regulations are not broken. Good managers will stay current so that there are no violations that have to be reported and dealt with.
For a manager to have a good grasp of everything that is happening, he has the ability to use daily and weekly operating reports, which most of the time is just raw data, which will later be compiled and completed as quarterly reports. This helps give managers the ability to reference other quarterly reports and make adjustments if needed.
A fiscal year report covers a 12-month period of time, determined by the organization. These reports are not necessarily for the manager but for reporting the operations of the organization and those who oversee the organization.
It is very important that a good manager know these elements, how they run, and make changes as needed. Financially responsible managers ensure the organization is well maintained and the public that it serves pays for services and procedures that have found to be necessary and they leave the hospital or clinic with the confidence that they were treated fairly and professionally. A good manager makes this happen.
I'd give you an A, not many mistakes. Just check on a few things. ORGANIZSATION CULTUREATMRWMD: DOES IT SUPPORT THE ORGANIZSATION MISSION? Table of contents? Introduction 1. The Monterey Regional Waste Management District (MRWMD) had humble beginnings in 1951 when forward thinking county officials had a vision of a better waste management system for the Monterey Peninsula, ending the era of ...
Baker, J. L. (2011).
Healthcare Finance: Basic Tools for Nonfinancial Managers (3rd ed.).
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CFP Board Censures. Improper CFP Professional Conduct. (2011).
Ethical Decision Making for Healthcare Executives. (1993).
Financial Dictionary. (2011).
Vitez, O. (2011).
Ethics in the Accounting Profession. Retrieved from