Hcs 405 Reporting Practices and Ethics

Reporting Practices and Ethics
By: Due:   February 27, 2012
Class:   HCS/ 405
Instructor:   Diana Schilling

    Reporting practices and ethics are a part of every business, every organization and every healthcare facility in the country.   Good business ethics and good healthcare ethics go hand in hand.   Keeping accurate records, being honest with reporting profit, and offering the best quality care possible to the highest extent of care possible, are all part of what makes a good financial management department, and a great healthcare facility.   The sad thing is that while it is always good to do the right thing it doesn’t always happen.   Misconduct, waste, fraudulent behavior and abuse are things that happen every day in all kinds of businesses.
    Financial healthcare management includes generally accepted accounting principles, ethics, corporate compliance and fraud.   Another important part of financial healthcare management is the four elements of financial management, ethical standards of conduct and financial reporting.   Generally Accepted Accounting Principles (GAAP) gives guidelines for several different business practices to be realistic and objective in regards to the financial performance report.   Generally accepted accounting principles put limits on chief executive officers as well as creative accounting.   The definition of business is very important to understand even down to the smallest degree.   Challenge what is believed to be true and accurate, objective is along with fair financial reporting can and may be different in the eyes of each individual.   Different methods of depreciation will every time end with a different financial picture result.   Accounting policies and procedures need to be developed, to ensure a consistent method of practice is used organization wide, and Nationwide (CBS News, 2011)
    CBS News reported preventing fraud and abuse as a fall out healthcare industry.   Two examples of the governmental efforts to pursue...