FINANCE

Finance and Reimbursement in Health Care



Finance and Reimbursement in Health Care

Element of Financial Management

Financial management is the essential aspect for the success of organization. There are the four element of the financial management that includes

Planning

This is identifying the steps that has must taken in order to accomplish the objectives of organization

Controlling

This is making sure that the each areas of the organizing is the following plans that have been established

Organizing And Directing

This is decided that how to used the resources of organization that is mist effectively carrying out to established the plans

Decision making

This is making choice among available the alternatives.

The four elements of the financial management that6 we have discussed above are includes planning, controlling, organizing and the decision making. The planning is where the financial managers are able to identify the strep that has must taking to accomplish the objectives of organization. The purpose is to identify the objectives. Controlling is the financial manager that is making sure that each organization areas is following the plans that have been established. The foremost function of the organization is to make sure that each planer is being followed. Organization is deal when the financial manager has decided that how to used the resources of organization to most effective carry out the plan that have been established by the organization (Christoffersen, 2011).

Decision making is where the financial managers the has makes decision choices among the available alternative, decision making that has been goes hand in hand with all four major function that are planning, organizing, controlling and decision making (Christoffersen, 2011). This is generally accepted that the principle of accounting that are GAAP are overriding the principle of accounting, procedure and standard that companies has follows while compiling the financial statement. This is also general accepted that principle of ...