Financial Report Health Care

Health fretfulness finance insurance coverage and moral philosophy Rebecca Touchet HCS/405 February 28. 2012 Kristin McFarland Health c be finance reportage practices and morals Financial manamgnet of wellness c be scheme involves reporting practices and ethical standards, which must be followed by only health keeping organizations. Financial reports have many purposes, they are tools utilize by managers to control their organizations and to monitor the organizations fiscal spatial parity (Weubgeimer, 1994). The monetary reports provide information to external parties on the organizations monetary operations and compliance with financing requirements. Generally accepted accounting system principles are the general rules, regulations, and guidelines that must be followed by monetary managers, to ensure their practices are legal and ethical, (Duis, 1993). Financial managers are responsible for reporting, accounting functions, and maki ng sure that all pecuniary records are accurate. Poor financial reporting can result to the organization losing money, which affects shareholders, patients, and employees (Codijia, 1999-2012).

Financial reporting practices In health carefulness organizations, financial reporting involves financial relations, the balance sheet, income didactics, cash endure narrative, and the statement of net worth (Codijia, 1992-2012). Each financial statement has a purpose and is used to show the financial place of the health care organization (Codijia, 1999-2012). The balance sheet reports what the organizations owns, owes, and what it is worth, the income statement reports the organizations inflows and outflows of ca! sh, the statement of net worth reports the organizations revenue and expenses over a period of time ( Baker, & Baker, 2011). Financial managers are responsible for reporting the organizations finances, and they must provide financial statements in a by the way manner (Baker, & Baker, 2011). There are four know elements of financial...If you command to get a full essay, order it on our website: OrderEssay.net

If you want to get a full information about our service, visit our page: write my essay