Essay on Defining Financial Ethics

1058 Words 5 Pages
Introduction
This report will cover the meaning of Financial Ethics, what kind of accounting practices are considered to be unethical and how a company can overcome problems. In addition this report talks about the use of EBITDA in accounting practices and how EBITDA can be manipulated to show a company’s performance as good when in fact they are suffering. The report will also show how EBITDA and financial ethics can be intertwined with each other.
FINANCIAL ETHICS
Financial ethics is a form of business ethics but with more emphasis on the financial end of the business. To be a trustworthy person in this field it is a requirement that you refrain from bad accounting practices such as aggressive accounting. Aggressive accounting is
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There are other reasons too such as to cover up any losses due to theft, and to get work related bonuses. If a company looks good on the outside they will attract more investors, have more credit available to them which is why companies are doing these unethical, and unlawful acts of accounting.
In today’s world in every corporation, small business, and healthcare organization ethics are more important than ever. Ethical standards are probably more important in healthcare than in other types of businesses. It is important to realize that many people, the patients, the family and friends of the patient rely on our healthcare system to be upfront and always ethical in their practices. To not withhold any available treatments to our loved ones and to only charge for those services provided. People expect and should receive the latest technological advancements available for their ailment.
Those employed by the hospital/care center or whatever entity they are working for are expected to have the commitment to ethics and reliability. These departments can include the personnel department, nursing staff, cleaning staff all the way up to the CEO of the hospital.
There is an association committed to healthcare financial ethics called “Healthcare Financial Management Association (HFMA)”. They have a site where there is a code of ethics that each member is to follow. This list includes (in a quick summary) to always practice

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