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Reporting Practices and Ethics Paper

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Reporting Practices and Ethics Paper
Nicole McLaughlin
HCS/405
December 8, 2014
Jack Heinen

Reporting Practices and Ethics Paper
This paper will seek the financial reporting practices, ethical standards, accounting principles, corporate compliance, ethics, or fraud and abuse in the articles that was chosen to be reviewed. Financial reporting in a medical office or a healthcare organization relies on financial data to be close to real time as they can get it. The financial reporting has advantages such as analysis, visualization, and assistance in decision-making ("Financial Reporting", 2009). Chief financial officers use the financial reporting to help identify the profits and the cost of the healthcare organization. Financial reporting will lead the financial personnel to quantified, data-driven choices which will benefit them with accurate planning, forecasting, and budgeting ("Financial Reporting", 2009). Financial reporting can aid in to reduce a cost, profitability, predict and respond to changes in the market ("Financial Reporting", 2009). Ethical standards in a healthcare organization should be guided by integrity, serves as a role model, and support a culture that provides high-quality, cost-effectiveness health care which helps the ethical behavior and practices of individuals throughout the organization ("Creating An Ethical Culture Within The Healthcare Organization", 1992-2011). It does not matter if the person is a gift shop manager or a CEO of a four star organization ethics should be the central mission and the individual should take the responsibilities of their own actions and seek different ways to integrate ethical practices and display it in the organizations culture ("Creating An Ethical Culture Within The Healthcare Organization", 1992-2011).
Four Elements of Financial Management
The four elements of financial management are planning,

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