Generally accepted accounting principles relating to health care. - Essay Example

Only on StudentShare

Extract of sample
Generally accepted accounting principles relating to health care.

The standards relating to GAAP have been recognized to be executed by different organizations while compiling their respective financial reports. In general, GAAP is a broadly used accounting procedure of reporting and recording financial information. The accounting standards that have been outlined within the GAAP are “generally accepted” by the Governmental Accounting Standards Board (GASB). The mission of GASB is to build and develop the financial reporting standards at the level of local governments and state units (Taylor, 2008). Purpose of GAAP The main purpose of GAAP is to represent the financial report that can significantly reflect the financial position of a particular organization. GAAP provides effective support to the organizations in terms of enhancing their capability within the framework of long-term financial decision making process that eventually enables the organizations to accomplish their predetermined financial objectives. Moreover, the other imperative purpose of GAAP is to enhance the performance of the business organizations through properly maintaining their financial records (Office of Financial Management, 2012). From the perspective of healthcare industry, GAAP performs a major role through delivering transparent financial statements that encompasse all the financial activities of the healthcare organizations. ...Show more

Summary

Generally Accepted Accounting Principles Relating to Health Care The Concept of GAAP Generally Accepted Accounting Principles (GAAP) are fundamentally regarded as a standard framework and guiding principles of financial reporting, as well as accounting process…
Author : rocky77
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Generally accepted accounting principles relating to health care."
with a personal 20% discount.
Grab the best paper

Related Essays

Health Care Management
Running head: SELF REFLECTIVE ESSAY Self Reflective Essay Student’s First name, Middle initial and Last name Name of University BHS427 Health Care Finance June 20, 2011 I have always been very interested in learning about the various aspects of health care management.
1 pages (250 words) Essay
Generally Accepted Accounting Principles Paper
Generally accepted accounting principles, related to health care, are those principles that serve as guidelines for accounting finances of health care institutions. These principles form guidelines for accountants and managers of health care industry vis-a-vis financial reporting, auditing, and accounting.
4 pages (1000 words) Research Paper
Use of Quick Response Codes in Healthcare
According to the report the information that is found encoded within the Quick Response code could be calendar items, text messages, emails or URLs. The Quick Response code can be read by smart phone apps such as those found on iPhones. The QR code itself stores a lot of information that is easily scanned as well as stored on a mobile device.
4 pages (1000 words) Research Paper
Health Care Reform
The law faced considerable opposition from the Republicans and its repeal failed after it was upheld by the Supreme Court on June 28th, 2012. The reforms spurred by the bill will extend health cover to over 30 million Americans. This will be achieved through the provision of Federal subsidies for the less able and the expansion of Medicaid.
4 pages (1000 words) Essay
Health care system
Describe the pressure they would have exerted on the legislators. The legislative process entails the development of ideas into laws. This often begins by the sponsorship of an idea by a representative in form of a bill. Bills are studied by committees and scheduled for debate, voting or amendment.
4 pages (1000 words) Research Paper
Generally Accepted Accounting Principles Paper
The research delves on the reasons for the strict implementation of the United States Generally Accepted Accounting Principles. United States Generally Accepted Accounting Principles implementation enhances the financial statement users’ decisions. Generally accepted accounting principles can be applied to the all entities, including the healthcare environment (Black, 2009).
4 pages (1000 words) Essay
The purpose of this assignment is to investigate safeguards and apply ethical principles to the use health care technology.
A large number of developments are seen every day in every area of life. This paper discusses one of latest IT advancements in the healthcare sector. This advancement emerged in the form of radio frequency identification technology. It has already been used by a large number of business organizations to manage their supply chain, operations, and logistics and many other business operations.
3 pages (750 words) Essay
Answer to a question from previous selected source
Though his paper is focused on reviewing and critiquing the approach to medication error data collection and analysis, Ferner (2009) wrote it in a manner that showed how the design of this field of
1 pages (250 words) Research Paper
Ethical Issue in Advanced Practice Nursing
However, there at times that nurses fail in giving optimal care to their patients. Some of the reasons for this failure include ineffective communication, lack of family support, insufficient information and work overload. In advanced
11 pages (2750 words) Essay
Contribute to the care of mothers and babies interview
Perhaps the most surprising answer I received during the interviews was from my father who I asked about the roles he played in the birth and upbringing of my siblings and I. in as much as in the first pregnancies my father was more laid back,
3 pages (750 words) Essay
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT