Financial Management
Content Find articles address financial reporting practices ethics standards health care finance, including * generally accepted accounting principles * corporate compliance, ethics, and fraud abuse
Financial management: Literature review
Healthcare institutions, like all organizations, are continually confronted with the four basic elements of financial management: deciding what to invest in or produce; how to finance those investments or products; how to manage assets, and how to report those assets in a manner that is useful and also complies with all necessary regulations. This paper will provide an overview of two recent articles, one on the necessity of uniform accounting procedures to ensure ethical and legal compliance amongst healthcare institutions and the other on the financial consequences of failing to do so for the institution itself.
Article 1: Maintaining the strength of your convictions
According to Larry Tyler's 2004 article "Maintaining the strength of your convictions" "Most financial executives can avoid being caught in an ethical maelstrom by maintaining the strength of their convictions. Their gut feeling about what is right or wrong is intact and can provide the needed guidance. Sometimes, however, financial executives might be asked to compromise their convictions. Or they themselves might wish to 'bend' their convictions a bit, in effect letting down their moral guard" (Tyler 2004: 1). One of the most common criticisms of GAAP (Generally Accepted Accounting Practices) is that it is overly technical in terms of how it specifies cost allocations, thus allowing accountants to frequently flout the law in contrast to International Financial Reporting Standards [IFRS]. "While U.S. GAAP is based on rules and specific details, International Financial Reporting Standards tend to be more broadly based on principles" (Adam 2007). The IFRS's reliance on principles over rules-based accounting increases the potential for different interpretations between managers, but also puts the ethical obligation of honesty upon the shoulders of the organizational heads and the accountants. Tyler's stress upon the need for managers...
Managing Diversity Diversity is a fact of American and International business and is a broader, more complex issue than one might initially believe. A universally vital element of global commerce, Diversity has spawned an abundance of theorists, journals and specialists, some of whom are encountered in this composition. Addressing the remarkable breadth and complexity of Diversity, this essay reviews: the nature of Diversity; legally protected classes within the United States; aspects
It is not one that should be undertaken under unethical or false pretenses. If the culture is bad enough to start with that the company feels that a change is necessary then the last thing that they want to do is be unethical about it. This would do nothing but make a bad situation worse. 6. Determine the organizational structure that would best facilitate the implementation of these new practices. The
It is not that managers do not see the benefit in conflict that they eschew it; it is that conflict is high-risk and can have significant negative externalities, some of which linger with the organization for a long time. Managers are less enthusiastic about conflict because they are taking into account a longer time frame and the totality of externalities, which makes their views a reflection of better information
Financial Management "Suddenly, Gold Isn't Looking So Solid" This article (Sommer, 2011) examines the advisability of including gold in a typical investment portfolio. The article analyzes arguments, both historical and current, in favor of and against investing in gold. The article concludes with a very qualified recommendation, advising investor caution. Sommer's article debates the question of whether gold, given its high volatility, should be included in a typical investment portfolio. He presents arguments
Management: Annotated Bibliography Anyim, F.C. (2012). The Imperative of Integrating Corporate Business Plan with Manpower Planning. International Journal of Business and Management, 7(8). This article talks about how traditionally, manpower planning as human resource activity is something that is utilized by institutions to make sure that they have the proper number and the accurate types of individuals that are performing jobs at the right places and during the right time all in
Managing Advertising, Sales Promotion, Public Relation and Direct Marketing Hundreds of theories exist that examine, outline, define and analyze the best methods for managing advertising, sales promotion, public relations and direct marketing campaigns. Slick advertising agencies offer manufacturers and retailers a variety of tools that do in fact support the advertising and sales promotion process. The primary key element however, that is common among all of these areas, and the one
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