REPORTING PRACTICES AND ETHICS PAPER

Reporting Practices and Ethics Paper



Reporting Practices and Ethics Paper

As Russell (2009) has defined, accountants are self- regulated professionals that are accepted to support a certain standard. In this item, the scribe summaries the reason of GAAP, the guidelines for organising all financial data according to GAAP, prime principles upon which GAAP is constructed and GAAP assumptions of how accounting principles will be supported and utilised in a business. It is absolutely crucial that all business entities use General Accepted Accounting Principles. The reason of the General Accepted Accounting Principle (GAAP) is to guarantee consistency in accounting practices, not only inside a wellbeing care business but furthermore over all regulated companies.  The prime principles that GAAP is constructed upon are Historical Cost Principle, Revenue Recognition Principal, Full Disclosure Principle, and Matching Principle. Each one of these principles has a very significant function in the achievement of any wellbeing care business..

According to Byassee and Saum (2000), government and localized prosecution of deception and misuse violations has apparently accelerated over the past some years. In an item titled, Effective wellbeing care corporate compliance -- Implementing HIPAA and Other Compliance Programs the author found out good demonstrations of corporate compliance, ethics, deception, and abuse.  The item is about some examples of corporate compliance, ethics, deception, and abuse.  In March, 2000, Community Health Systems come to a $31 million town with the Department of Justice in relative to overpayments founded on up-coded billings to Medicaid, Medicare and CHAMPUS programs (Byassee and Saum, 2000). Another violation considered in the item is a violation which took location in December 1999 when a government referee in Tampa, Florida, punished a Columbia/HCA Healthcare Corporation boss to two years in jail for Medicare deception and six enumerations of conspiracy and producing untrue declarations on Medicare and ...