Reporting Practices and Ethics Essay
February 3, 2014
Reporting practice and ethics paper
It is the responsibility of a health care manager to understand the basic principles of accounting and finance, and have the knowledge and the understanding of a financial report and what it means. Without these skills and ethical standards it could result in poor management. Financial management is a vital part of organizational effectiveness and success.
Financial management requires four elements in order to operate properly. The four elements of financial management:
Planning- the financial manager identifies the steps that must be taken to accomplish the organizations objectives. The …show more content…
In today’s business, individuals in management accounting and financial management constantly face ethical dilemmas. Individuals in management accounting and financial management have a unique set of circumstances relating to their employment ( www.easternct.imanet.org, 2014). A good reputation is earned by continuous performing with competence, appropriate confidentiality, integrity, and by complying with laws and regulations. Financial professionals are obligated to their employers, co-workers, customers, shareholders, the profession and themselves to maintain and conduct high ethical standards. Practitioners of management accounting and financial management have a responsibility to,