There are four significant elements of financial management, “There are four basic financial statements. You can think of them as a set. They include the balance sheet, the statement of revenue and expense, the statement of fund balance or net worth, and the statement of cash flows.” (Baker & Baker, Chapter 4, 2011). Financial manager need to have a balance sheet to review or perform an audit so they can see the debt to income ratio for the organization they are financially responsible for. The statement of revenue and expense provide a clear financial outlook of the organizations financial situation during certain time periods. The significance of the statement of fund balance or net worth is to identify cash and property assets of the organization within a year or other period of time. Last but not least the statement of cash flow is proof of all of the profit by the organization during a certain period of time.…
All medical facilities are responsible for given the best treatment as possible to their patients. This may include having the ability to react the correct way in a determinate situation, always thinking in the patient and the organization’s benefit. In medical field there many precautions that must be taken in order to prevent a real problem, such as malpractice and law suit cases. For this reason is good to apply “think before act” because it all starts having a good base of ethical decision.…
Medical assistants typically work in different health provider’s office settings and do a combination of patient care and…
"Society of Professional JournalistsImproving and protecting journalism since 1909." SPJ Code of Ethics. N.p., n.d. Web. 24 Feb. 2014. .…
Financial Management is a fundamental part of successful healthcare financial planning. Financial decisions are a necessary part of day to day operations of any size or type of health care facility. These decisions are made in accordance with the facilities fiscal objectives and accounting practices. It is important that the individuals making these decisions follow proper reporting and ethical practices since these decisions affect the future of the entire facility. In order to make finical decisions it is important to understand generally accepted accounting principles, corporate compliance, ethics, fraud and abuse.…
It says, “Journalists should be honest, fair and courageous in gathering, reporting and interpreting information.” Media coverage of the 2012 Republican race to the White House does not represent fair and honest reporting. Journalists are clearly not fair in their coverage of Ron Paul. Many analysts and political show hosts are sometimes not even honest. It also says that journalists should “expose unethical practices of journalists and the news media.” Some journalists and bloggers are attempting to expose the truth about the media’s biased and unbalanced coverage of Ron Paul and other GOP candidates, but still—an overwhelming amount of journalists continue to ignore Ron Paul. It is not the media’s job to sway Americans to vote a certain way. The SPJ Code of Ethics also states that journalists should “support the open exchange of views, even views they find repugnant.” In a presidential campaign, candidates will express many different beliefs and views. The media should not discount or ignore certain views based on their popularity. The media’s job is to represent each side, as well as each candidate who represents those views. The public’s job is to decide when those views correlate with its own. The media should report the truth and represent each candidate fairly and…
An organization’s mission statement is a written declaration of its core purpose and focus, which remains unchanged over time. When properly crafted, a mission statement will serve as a filter of what is important and what is not. Which market the organization intends to serve and how, as well as the envisioned direction of the entire organization ("Businessdictionary.com", 2014). Usually summarized in the mission statement, the core values refer to the principle that guides an organizations internal conduct, as well as its relationship with the external world ("Businessdictionary.com", 2014). The written set of guidelines an organization issues to its workforce to help them conduct their actions in accordance with its primary values and ethical standards is the…
Working as a financial manager comes with a lot of responsibility; and a lot of standards of practice. Just like physicians and nurses, financial managers of health care organization have a set of rules and ethical guidelines they must follow in their practices. In this paper, I will explain what the four elements of financial management are. There will also be a summary of generally accepted accounting principles (GAAP) and financial ethical standards. Business’s mist follows these standards in order to comply with federal agencies such as the Financial Accounting Standard Board. I will also provide examples from articles that explain how corporations comply with these standards and deal with fraud or abuse.…
Whether we want to believe it or not, finance is one of, if not, the important factors in running a successful healthcare organization. In order for it to be successful, the four elements of financial management should be executed in its entirety. These four components are controlling, planning, organizing, and decision making. When in the planning stage, it is essential to set goals for the healthcare organization along with its execution. It is in the controlling stage that helps to make sure that the goals set are to be carried out. A way that a manager can control an organization is to conduct monthly or quarterly audits. When organizing, there should be a structure set to make sure that everything is running smoothly and is up to code. With decision making, the overall performance of the other three elements and its successes determines the decisions made. For example, if the organization has gone over budget, it is up to the decision making component to evaluate the situation and to see where there can be cut backs. Not only are the four components important but also the generally accepted accounting principles and general financial ethical standards but corporate compliance, ethics or fraud and abuse will be discussed. One must first have understanding of these terms in order to apply them to daily financial practices. Once there is understanding of these terms, then it would be easier to provide a more ethical approach when it comes to the organization’s financial stability.…
Baker J.J., & Baker, R.W. (2011). Health Care finance; Basic tools for nonfinancial managers (3rd ed).Jones & Bartlett…
WellPoint, a managed care company, was investigated for violations of the Health Insurance Portability and Accountability Act of 1996 and Security Rules. The investigation concluded WellPoint improperly “implement policies and procedures for authorizing access to the on-line application database, perform an appropriate technical evaluation in response to a software upgrade to its information systems, and have technical safeguards in place to verify the person or entity seeking access to electronic protected health information maintained in its application database” (Sebelius, 2013).The investigation began in October 23, 2009 and ended in March 7, 2010. The investigation specified WellPoint released the Electronic Protected Health Information (ePHI) of about 620,000 entities by permitting admission to the ePHI of entities sustained in the application database. The information available by this database included phone numbers, SSN, dates of birth, and health information. U.S. Department of Health and Human Services (HHS) stated even if database or system upgrades are accompanied by concealed individuals or the corresponding cooperation contacts, HHS expects all associations to comply with regulations by having appropriate technical, physical, and administrative safeguards to conceal the ePHI, confidentially, and integrity.…
The United States of America, its government, and the Criminal Justice Administration are all governed under the same set of governmental laws. These governmental laws are documented within the U.S. Constitution. Each amendment to the Constitution provides basic rights for citizen of the United States. Signed by delegates and presided by President George Washington, the Constitution was designed to provide a stronger federal government under the three branches; executive, legislative and judicial (The Constitution, 2014) In proceeding involving…
Which NOHS Code of Ethics statement applies to the situation? I feel two standards fit here. Standard 25 When a conflict arises between fulfilling the responsibility to the employer and the responsibility to the client, human service professionals work with all involved to manage the conflict. Standard 28 Human service professionals seek appropriate consultation and supervision to assist in decision-making when there are legal, ethical or other dilemmas.…
In this work ACC 410 Week 4 Discussion Question 2 Ethics Case you will find right answers on the following task: "Harris Fell, CPA and member of the AICPA, was engaged to audit the financial statements of Wilson Corporation. Fell had half-completed the audit when he had a dispute with the management of Wilson Corporation and was discharged. Hal Compton, CPA, was promptly engaged to replace Fell. Wilson Corporation did not compensate Fell for his work to date; therefore, Fell refused to allow Wilson Corporation…
Several local/overseas stories from a local news source, about issues that raise ethical concerns, will be selected and provided by the lecturer. Articles will be placed in class share → \\gutulei → EVG401 → SAMABULA CAMPUS, Semester → Assignment 1 – Booklet. Each student is to select ONE news article for this assignment. You are to prepare a BOOKLET of A4 size according to the following guidelines:-…