Financial and Ethical Reporting In the health care environment financial and ethical reporting is very important to produce successful organizations. As health care providers evolve within a facility‚ it is crucial to understand effective financial management strategies. Comprehending this can eliminate the consequences of fraud and illegal accusations. This paper will illustrate two articles that address financial reporting practices containing ethical standards in health care finance. It will
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system that provides criteria for evaluating right and wrong. An ethical dilemma is a situation in which an individual or group is faced with a decision that test this code. One of the elements that many believe distinguishes a profession from other occupations is acceptance by it members of a responsibility for the interest of those it serves. . Accounting ethics is a field of professional ethics which pertains specifically to accounting. For the public to rely on the information provided there must
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In Professional Standards in Human Service and Research‚ it was explained that ethical standards provide a mechanism for professional accountability. The necessity of ethical behavior in clinical and research practice was covered in detail. I also learned how important it was for a professional to keep their own values from influencing clients. In this class I completed a number of essays showing that I was able to effectively identify ethical dilemmas‚ identify the potential issues involved
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examples‚how the major accounting concepts are used in preparing financial statements. Answer : There are several accounting concepts that are used by the accountants worldwide in preparing financial statements.Using these principles one can prepare a fair and accurate financial statement for a period that would reflect the true condition of the business. Among all the accounting principles‚there are some very important fundamental concepts.Those major accounting concepts are :
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1. | Question : | Li Retailing reported the following items for the current year: Sales = $3‚000‚000; Cost of Goods Sold = $1‚500‚000; Depreciation Expense = $170‚000; Administrative Expenses = $150‚000; Interest Expense = $30‚000; Marketing Expenses = $80‚000; and Taxes = $300‚000; Li’s operating profit margin is equal to | | | Student Answer: | | 25.67% | | | | 35.67% | | | | 36.67% | | | | 50.00% | | Instructor Explanation: | Operating Profit Margin = EBIT/Sales
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Chapter 6: Revenue RecognitionRead: Chapter 6 and partly 13 on warrantyIn-class exercises: BE6-7‚ EX6-11‚ EX6-9‚ EX6-16‚ EX6-18 Practice exercises: EX6-7‚ BE6-11‚ P6-1‚ P6-2‚ E13-17 There are two main conceptual views on how to account for revenues/sales: Earnings approach Contract-based approach Earnings Approach Revenues are recognized when the following criteria are met: 1. Performance is achieved: a. risks and rewards transferred and/or earnings process substantially complete‚ and
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PRINCIPLES-BASED VERSUS RULES-BASED ACCOUNTING STANDARDS: THE INFLUENCE OF STANDARD PRECISION AND AUDIT COMMITTEE STRENGTH ON FINANCIAL REPORTING DECISION ------------------------------------------------- BUS 421 ACCOUNTING THEORY E100 ------------------------------------------------- Presented To: Karel Hrazdil ------------------------------------------------- Presented by: Shirley Mi Chen (301069071) ABSTRACT Agoglia‚ Doupnik‚ and Tsakumis (2011) examined two hypothesis in their paper
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Institution Introduction Observation of standard accounting practices is a requirement for publicly traded companies. The companies are obligated to follow strict accounting rules in the presentation of their financial statements to enable the readers of such statements to compare performances by different companies easily. Financial institution and shareholders of various private companies may also require private companies to comply with certain accounting standard. Local governments being the form of
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Outline notes: 1. Lecture - General signaling principles Geraint Thomas Introduction Failure in cell signaling influences the normal cell homeostasis and finally can results in diseases. (According to OMIM between 250-2500 diseases are related to genetic changes e.g. IBD‚ Huntington‚ etc) Signals induce transitions from state 1 to state 2. Even for staying alive cells need constant signaling. Characteristics of a signal/change: - Perturbation from steady state
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International Accounting Standards Contents A. Introduction & Objective.……………………………………………………………….3 B. Why Harmonization of international accounting standards required……………..4 C. Factors influencing any Country’s Accounting Standards…………………………..6 D. Role of International Accounting Standard Board (IASB)……………….…………..8 E. Moving towards Harmonized International Accounting Standard………………….9 F. Obstacles and Benefits of the harmonization of International Accounting………..10
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