Healthcare Financial Reporting

Financial Reporting Practices and Ethics Financial management plays a large role in almost every odor of affair. From inventory to salaries, loan decisions to stockholder dividends, almost every strain decision will be somewhat based on pecuniary data that is available to the decision maker. This is champion of the reasons past it so vital that financial information be write up perfectly and fairly. In regards to health c be arrangements, the trueness of financial information plays an even larger role than in new(prenominal) businesses. This is in part due to an announcement made by the Department of Justice at a news muckle in the fall of 1994 that healthc ar was a top enforcement priority. Providers and suppliers crosswise America were informed that healthcargon caper would be the payoff two enforcement-priority for the Department of Justice. Number two, after the number i priority which was violent crime. Prior to the press conference, healthc atomic number 18 art was eleventh on the DOJs priority list. (Steiner, Jr., 2009 para.1) This demonstrates the splendour that the Government has placed upon fighting healthcare fraud and is a strong reason to ensure accuracy and fairness in healthcare financial reporting.

The largest healthcare payer is the government; then healthcare governing bodys cannot afford to anger the government with anything less than sinless and fair reporting. There are four main reports that are used in financial reporting. These reports are tied to separately other. (1) A balance sheet reports the assets of the organization. The assets are the total of what the organization is w! orth-its fund balance-and what it owes-its liabilities. (2) The income statement covers a period of time and lists the tax income or inflow of the organization against the expenses or outflow. Hopefully the revenues are greater than the expenses and there will be a approach path showing. (3) The statement of changes in fund balance shows the balance at the beginning of a...If you want to get a full essay, regorge it on our website: BestEssayCheap.com

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