Ethical Standards in Health Care Accounting Essay Example for Free

Ethical Standards in Health Care Accounting Essay As a health care manager, there is a need to understand the basic accounting principles and the need to be able to look at a financial report and understand what it says. Without these keys and a good ethical compass, there could be serious consequences and could result in loss of revenue, funds, termination, or even prison time. Now this may seem like an extreme statement, but without using the four elements of financial management and some good common sense, it might not be a far stretch of the truth. This paper will address the four elements of financial management and how good ethical standards and common sense ensure the best results. The Four Elements of Financial Management Financial management is simply put managing the financial aspect of a business. That involves cash coming in and cash going out. There are four elements of financial management which include planning, controlling, organizing and directing, and decision making. These four elements are important and need to be discussed separately. Planning â€Å"The purpose (of planning) is to identify objectives and then to identify the steps required for accomplishing these objectives† (Baker Baker, 2011, p. 5). Planning allows a manager to understand what his or her organization is about, or what it wants to achieve. This stage allows a manager to lay out the basic roadmap for what needs to happen. This does not meant that this is exactly what will happen, but still it provides a starting point. Creating a plan also requires thought into developing checks and balances. Who will be in charge of what, and who will be watching over whom. Plan to make it difficult for someone to make unethical decisions. According to Chuck Gallagher, a business ethics and fraud prevention expert; â€Å"Unethical behavior(s) that morphs into fraud will always have (need, opportunity, and rationalization) at their core† (Gallagher, 2009, p.41). Planning helps eliminate the opportunity for fraud. Controlling â€Å"The purpose of controlling is to ensure that plans are being followed† (Baker Baker, 2011, p. 5). At this stage managers use reports to see what areas are and what areas are not following their plans. The manager uses reports to ensure that financial targets are being met and that fraud is not occurring. Depending on the size of the organization, there may be many layers of controls put into place. It might be best to have someone that keeps everyone honest, at multiple levels. According to a quote in an article in Healthcare Financial Management, â€Å"’every organization ought to have a set of fairly detailed internal controls that protect its key assets. These controls should be reviewed by external and internal auditors or staff to make sure they are being adhered to’† (Sandrik, 1993, p. 4). Organizing and Directing Organizing is determining how best to use existing resources to achieve the goals of the company or organization. A few examples of this could be whether to have multiple nurses in the pediatric department today when they are needed in the ER, or whether to keep an ultrasound machine that is rarely used in a clinic, when it could best be served somewhere else. Directing is the day to day job of ensuring that resources are organized or designated in the most efficient manner. Decision Making Decision making is done continually throughout the other three elements or stages. Every time something is planned, controlled, or organized, it was because someone made a decision. Remember when making decisions to base them on the four principles of business ethics, â€Å"autonomy, which assumes every human being is capable of making his or her own choices; justice, which requires actions and practices to be fair and nondiscriminatory; beneficence, which promotes human welfare; and non-maleficence, which ensures protection of individuals from harm† (Sandrik, 1993, p. 5). Keeping transparency in a business is a great way to keep people honest as well. In July, 2010, The Healthcare Group Purchasing Industry Initiative (HGPII) received rave reviews for it â€Å"activating a formal process to ensure prompt and fair resolution of supplier complaints† and for â€Å"implementing an Independent Advisory Council to have outside observers make sure they are doing everything possible in terms of ethical standards† (Freeman, 2010, pp. 3). Conclusion Financial accounting might look like pages of numbers or gibberish; however they are the key to unlocking income potential, and success. Whether a manager is directly in charge of the reporting or in charge of something completely different, understanding these reports can help make an organization more efficient, able to offer more services, or even more profitable.

Benito Juarez Essay -- essays research papers

Benito Juarez was one of the most prominent and resourceful leaders in Mexico’s history. He raised the standard of living and championed the poor. However, it took Juarez half his life to become such a dominant political figure. He was born in San Paulo Guelatao in the Mexican State of Oaxaca. His parents were Indians, and he was raised a shepherd boy. His parents died when he was three, leaving Benito to his unmarried uncle. His uncle believed that the only way for him to better his place in society was to become a priest. So, on December 18, 1818, Benito at the age of twelve ran away to the city to learn. He entered the city penniless, and didn’t even speak the language. He soon got a job helping a bookbinder, and attended a parish school. He soon left the school because of discrimination, and social class divisions. He worked, and was then able to enroll in the Holy Cross Seminary. Benito did not want to become a priest, but the free education kept him there. Then, at 22 he entered the Institute of Sciences and Arts, and he studies Physics, and then law. In 1831 he finished his studies, and went to work in a law office. That same year, at age 25 he was elected to the position of city alderman. Then, in 1833 he was elected to the Oaxaca State legislature. Next, in 1834 he became the attorney for the state. Governments changed, as was characteristic in Latin America, and he was thrown in jail. He then was released, and gained support of both Libe...

Dairy writing Essay

I am mentally and physically exhausted but I need to write this diary to record the experience of my ordeal. I must do it so that someday someone would know what my husband did to me, even if I disappear one day.  Yesterday was another dull and boring day. It was raining outside. I could hardly sleep recently as I was worry-beaten. I had been thinking about Sir Henry’s safety. Did he receive the letter I sent to him while we were in London? Would he understand the message and keep away from my husband? Should I give him an explicit warning when my husband and others were away? How should I tell him? All these questions struggled in my mind. By the time Selden, the escaped prisoner, was dead, I already suspected my husband planning another crime. I still remembered he came home in great surprise and disappointment that night. Why my husband became a deceiver?  Just then, my husband came in. I wanted to persuade him to stop threatening Sir Henry. I pretended nothing had happened at the beginning. However, that swindler soon realized something wrong. Seeing my apprehensive face, he grasped that I knew he was planning another crime. When I tried to coax him from torturing Sir Henry further, he became agitated and furious. We started shouting and screeching at each other. He then hit me with his muscular arms and I found myself in a frenzy of anger and kicked him back. Suddenly, he snapped the bed sheets next to us and wrapped me all over. He was so forceful that I was promptly tied up against a wooden post in the center of the room. The knots were so tight that I could hardly breathe. Had I known that I would be assaulted in this prison, I would not have risked my life to fight with him. I wouldn’t forgive his cruelty. I was in great pain and blood was over my bruised arms. They were clear marks of violence. It was so painful and distressing. I was in a lonely marathon of agony. I felt so hopeless and helpless. I was motionless in a room with tears stinging my eyes.  Gradually, I heard my stomach echoed in the silence. I hadn’t eaten for a long time. How long had I been cooped up? I almost fainted when I heard a creak at my locked desert. I thought it was my cruel husband coming to torture me further again. It wasn’t! I wanted to shout but it turned out a faint sound because I was so weak at that time A short while later, I heard a bang and the door swung open. Holmes, Watson and Lestrade came in with guns in their hands. What a relief! I was rescued! All three of them were very surprised at the sight of me. They couldn’t identify me at first as I was wrapped round completely. They untied me. Thanks god for that! I felt much more comfortable. They were the brightness in the dark.  Full of grief and shame, I soon sank to the floor. They put me in the old oak chair and I managed to open my eyes again. I didn’t care whether my wicked husband would harm me further. I couldn’t keep the secret anymore. Therefore, I told them where he had kept the hound and the whole truth. I also asked about Sir Henry. To my relief, Sir Henry was safe and the hound was dead. I found myself crying with happiness. Now I am relieved and feel soothed after the salvage. However, I worry about what will happen to me next? I have been neglected and live a life of deceit. I don’t want to live in fear, suspicion and possible attack again, worrying my husband would plan another crime? Does my husband really love me? Why do we have to pretend to be brothers and sisters? Why was I being used to attract Sir Henry? I was torn between saving Sir Henry and hating my husband. What should I do?  I worry about my future? I prayed and prayed. I am lonely and hopeless in the world. Will god shed light on me?

The Problem Of A Economic Crisis - 2657 Words

The aim of this report is to understand what happened globally in economy for the last 7 years in order to build an affective and precise managerial strategy for Global Hotel in to generate profitability and create a successful business. What is the meaning of crisis and economic recessions? Business Dictionary is defining crisis as â€Å"a situation in witch an economy experiences a sudden downtown brought on by a financial crisis† (BusinessDictionary.com, 2014). The major sign of an economic crisis is the falling of GDP, the drying up of liquidity and rising or falling of prices generated by inflation or deflation. One form of economic crisis is the recession. The National Bureau of Economic Research is defining economic recessions as a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real gross domestic product (GDP), real income, employment, industrial production and wholesale-retail sales. More specifically, recession is defined as when businesses cease to expand, the GDP diminishes for two consecutive quarters, the rate of unemployment rises and housing prices decline.† (Morah, 2009) The reasons of world recession? The actual economic crisis were starting in 2008 with a financial crisis that had spread though the USA and became quickly almost global, affecting world economy. David Kotz, considered that world economy faced not just a severe economic and financial crisis, but structural, neoliberalShow MoreRelated A Cultural Problem, an Economic Crisis1099 Words   |  5 PagesIn the past two years, Western society has experienced what many of its leaders have called the worst financial crisis since the Great Depression. At the very least, it has been the worst period of instability that our younger generations have ever seen in their lifetimes. 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