describe Practices and Ethics Heather Sanders HCS/405 Version 5: wellness dread Financial Accounting August 6, 2012 Jay Christensen Financial Reporting Practices Financial describe is a big part of compliance within wellness care. It is even more important forthwith that the new health care reform fair represent has become effective. This new law has created more areas in which companies go away have to file account for. This every(prenominal)ow ins employees having to report how legion(predicate) employees they have, how more hours the employees with health care indemnification coverage work, and how many hours the employees without health care coverage work. This is because within the succeeding(prenominal) few years, almost citizens are required to have health insurance by dint of a government program, their employers, or themselves. wholly this reporting allow create be for the attach to for the insurance coverage as well as cost for the complianc e of these regulations (including software costs, extraneous audit fees, and consultant fees) (Capobianco, J., 2010). Who within the company is responsible for all this monetary reporting? Financial professionals include the company chief financial officer (Chief Financial Officer), analysts, accounting department, and revenue delay members.
These members all utility other administrators make better decisions; stomach more finished planning; provide more high-octane budgeting; reduce costs; respond to changes in the market; help them understand profit. there are even programs that companys can get to make this process easier and more efficient. atomic number 53 such program is c alled Information Builders and allows all th! e various levels of financial reporting to be completed in one outline. Areas this schema keeps track of include financial performance; revenue cycles; and positivism analysis. This system also helps assist in: budget disturbance; analyzing payers; facility planning and analysis; keeping track of register and costs; keeping track of bad debt and cash decrease; as well as showing the cash on hand for the day....If you want to get a full essay, fiat it on our website: OrderEssay.net
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