Reporting Practices and Ethics Paper

Reporting Practices and Ethics Paper
Chris Beard
HSC/405
November 28, 2011
Sandra DiPietro











To produce successful and profitable outcomes, healthcare mangers must implement and execute many important roles within their job. Organizations are expected to uphold and practice the highest ethical behaviors and standards. It is mandatory for successful managers and the employees they work with to be aware of all the elements of financial management, all ethical issues, and be thoroughly versed in all financial practices.
The four acknowledged basic elements of financial management, which are necessary for a healthcare manager to recognize and to understand how this organization works are comprised of the original records; the information system; the accounting system; and the planning system (Baker, 2011). The healthcare manager needs to thoroughly understand how his or her organization is set up, and needs to know what elements exist and how to make them work for a successful result. Technically it can be broken down fairly clearly in that the original records will show that some kind of event has occurred; gathering this information requires a good information system; the evidence then can by recorded by the accounting system records; and then the reporting system produces reports of what has taken place. It is essential for the healthcare manager to understand and be adept in deciphering reports that are created and contain essential information. This allows the manager to compare the data from previous points in time, it provides a method of numeric coding, assisting the manager in how the money was laid out and how they organized and assembled it. These reports will give the manager important information regarding areas of improvements that will need to be addressed in the organization. Once the reports have been analyzed, the manager must now organize and direct the funds as they are needed. This process is complicated in the fact...