Reporting Practices And Ethics Paper Essay

As you visit a aesculapian clinic or hospital you may guard concerns about the medical help you will receive. You would hope that you will receive fair and ethical treatment from the staff. It is the responsibility of the staff to do the best job possible to function not only the paient but also the employer. There is a inquire for an ethical foundation, especially in the health make do caboodleting. According to deliverance Ethics And Integrity Into Focus (2012), Patients and family members desire high quality portion out, diligent safety and the latest medical technology. But, ultimately, trust in the integrity of the phencyclidine is the foundation for their peace of mind.Elements of Financial ManagementFinancial management is lively to an organizations effectiveness. Financial management consists of four elements. The financial double-decker takes the necessary travel to identify and organize the organizations objectives. This is the element called Planning. Contr olling is when the financial manager ensures that the plans set by the organization are being followed properly and efficiently. The financial manager then makes the decision of how to use the resources of the organization to carry out the plans that have been established. This is where the organizing and directing comes in. The last step that the financial manager makes is the decision fashioning process. This is where the financial manager will make informed choices through main(a) tasks of analysis and evaluation.Accounting Principles and Financial Ethics StandardsIt is very historic that bill and financial professionals abide by the ethical standards that regulate what kind of line of merchandise is conducted, how they use their skills and who they serve. This is called Gernerally AcceptedAccounting Pricinples. Ethical standards are determined largely by professional business relationship and finance organizations and the Financial Accounting Standards Board. Accountants and financial professionals must continue their education and practice the ethics that prepare them for their positions, and they must also continue that education by learning new culture that can affect their practices. Accountants must be objective, avoiding conflicts of interest. They must not, for instance, perform accounting services for firms that they have a vested interest in. When working with a knobs financial training, financial professionals have access to a expectant deal of personal information.This is not only limited to financial information but also includes the names and contact information of employees as comfortably as the names and locations of firms with which the companion does business. Financial professionals are required to stay fresh that information private except when ordered to disclose it by a court of law. Keeping information private is an example of an ethical standard. some other example of ethical standards of conduct and financial reporti ng practices would be the company Enron. Enron is a company known for its ethical scandals.Enron was unethical collectable to the fraud that was committed by its top executives. On writing the accountants made Enron more powerful than they appeared. Subsidiaries, known as special endeavor entities have a single purpose and it was not necessary that they were include on Enrons balance sheet. These subsidiaries were used to hide risky enthronisation activities and financial losses. (Folger, 2011). It was later determied that Enron assets and profits were inflated, and even fraudulent and non-existent. Enron was one of the tally accounting scandals of all time.ConclusionWith the Enron scandal, organization ethics are more important now than ever, but not only does it make a businesses practice sound, it also allows the employees of the organization to go by a higher(prenominal) standard of integrity in their daily functions. It is more critical in health care settings than any ot her environments that there is an ethical foundation. It is important that health care staff conduct themselves with integrity, honesty, and respect for others and health care organizations must adopt standards of professional practice and having ethics is critical to the care patientsreceive. .ReferencesBringing ethics and integrity into focus. (2012). Retrieved from http//www.healthcarefinancenews.com/news/bringing-ethics-and-integrity-focus Folger, J. (2011). The Enron Collapse A sapidity Back. Retrieved from http//www.investopedia.com/financial-edge/1211/the-enron-collapse-a-look-back.aspx