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Reporting Practices And Ethics Paper EssayAs you visit a medical clinic or hospital you may have concerns about the medical care you will receive. You would hope that you will receive fair and honorable treatment from the mental faculty. It is the responsibility of the staff to do the best job possible to service not only the paient but to a fault the employer. There is a need for an ethical foundation, especially in the health care setting. According to Bringing Ethics And Integrity Into Focus (2012), Patients and family members desire high quality care, patient safety and the latest medical technology. But, ultimately, blaspheme in the integrity of the caregiver is the foundation for their peace of mind.Elements of Financial ManagementFinancial management is vital to an organizations effectiveness. Financial management consists of four elements. The pecuniary omnibus takes the unavoidable steps to identify and organize the organizations objectives. This is the element ca lled Planning. Controlling is when the financial manager ensures that the plans set by the organization are being followed properly and efficiently. The financial manager then makes the decision of how to use the resources of the organization to carry out the plans that have been established. This is where the organizing and directing comes in. The last step that the financial manager makes is the decision reservation process. This is where the financial manager will make informed choices through primary tasks of analysis and evaluation.Accounting Principles and Financial Ethics StandardsIt is very important that report and financial nonrecreationals abide by the ethical standards that regulate what kind of business is conducted, how they use their skills and who they serve. This is called Gernerally AcceptedAccounting Pricinples. Ethical standards are determined largely by professional accounting and finance organizations and the Financial Accounting Standards Board. Accountants and financial professionals must continue their reading and serve the ethics that prepare them for their positions, and they must also continue that education by learning new data that can affect their practices. Accountants must be objective, avoiding conflicts of quest. They must not, for instance, perform accounting services for firms that they have a vested interest in. When working with a clients financial reading, financial professionals have access to a great deal of personal information.This is not only limited to financial information but also includes the names and contact information of employees as well as the names and locations of firms with which the comp either does business. Financial professionals are required to keep that information private except when ordered to disclose it by a court of law. Keeping information private is an example of an ethical standard. Another example of ethical standards of conduct and financial reporting practices would be the compa ny Enron. Enron is a company known for its ethical scandals.Enron was unethical due to the fraud that was committed by its devolve executives. On paper the accountants made Enron more powerful than they appeared. Subsidiaries, known as special purpose entities have a single purpose and it was not necessary that they were included on Enrons balance sheet. These subsidiaries were used to hide risky investment activities and financial losses. (Folger, 2011). It was later determied that Enron assets and profits were inflated, and even fraudulent and non-existent. Enron was one of the worst accounting scandals of all time.ConclusionWith the Enron scandal, organization ethics are more important now than ever, but not only does it make a businesses practice sound, it also allows the employees of the organization to go by a higher standard of integrity in their daily functions. It is more critical in health care settings than any other environments that there is an ethical foundation. It i s important that health care staff conduct themselves with integrity, honesty, and respect for others and health care organizations must adopt standards of professional practice and having ethics is critical to the care patientsreceive. .ReferencesBringing ethics and integrity into focus. (2012). Retrieved from http//www.healthcarefinancenews.com/news/bringing-ethics-and-integrity-focus Folger, J. (2011). The Enron Collapse A Look Back. Retrieved from http//www.investopedia.com/financial-edge/1211/the-enron-collapse-a-look-back.aspx