Brook House Care Management

At our care home we provide and assist our residents with all the support and care alongside the company and security they need, to help the residents live their lives to the fullest.

SFAC No. 8 addresses the cost constraint on useful financial reporting, “Cost is a pervasive constraint that standard setters, as well as providers and users of financial information, should keep in mind when considering the benefits of a financial reporting requirement.” (SFAC No. 8 BC 3.47) However, the ability to place a dollar value and fully enumerate a cost or benefit is almost an impossible task for standard-setters. Additionally, there is no way to successfully identify and measure all of the economic consequences associated with a new standard. The FASB should be applauded though for advancing uniformity in accounting standards, however; uniform financial reporting suggests a one size fits all approach. “Smaller, non-publicly listed firms (and their auditors) argue that accounting standards are formulated mainly for larger, publicly traded firms” and that “compliance costs are disproportionately higher and the

The requirements of the applicable financial reporting framework relevant to accounting estimates, including related disclosures

The caregivers at the homes assist in arranging medical care, such as routine appointments or follow-up care as needed, in the event the resident or his or her guardians do not. In addition, a staff member normally attends the resident’s medical appointment. Each resident, or his or her guardian, is allowed to seek treatment from a physician of their choice. If they do not chose a physician, the group homes will bring the residents for medical care to consulting physicians. Frances House pays its consulting physicians a total of $150 per month for their consulting services. The physicians then bill the resident’s insurance or public aid for the medical services provided.

The client group for this sector varies from people living with dementia, learning difficulties and those who are in need rehabilitation, or those with certain physical disabilities. The different types of care which Baillieston Care home offers are Dementia Care, the staff have training on dementia care and have an understand of the challenges which may occur with living with dementia and are trained to look beyond the dementia diagnosis and to see the person as a unique Individual, to better understand them, and help encourage them live their lives in the way that they would prefer.

Our goal is to provide professional and paraprofessional services to customers in their homes. We help individuals to achieve the highest potential in their daily living activities. We strive to deliver high-quality, multidisciplinary care through comprehensive evaluation of needs from both the client and caregiver’s point of

Standard 11 requires the organization’s annual financial statements have to be prepared in accordance with Generally Accepted Accounting Principles:

There are a variety of services offered at Brookdale. For example, they provide independent living communities. This is where residents can live freely without doing typical home chores like cooking and cleaning. In addition, Brookdale also offers assisted living communities where residents are provided help with daily living like getting dressed, bathing, etc. This supports those who need help with things that need to be done regularly on a daily basis.

Sussex Healthcare is located in Sussex, UK. The organization owns and operates care homes and provides important support services for people in the care homes. In fact, the well respected organization has been providing care and support services in the homes for 25 years. Sussex Healthcare focuses primarily on providing care to older adults, people with learning disabilities, people with physical disabilities, dementia patients and more. Now, the organization is experiencing new growth under the leadership of their new CEO,Amanda Morgan-Taylor. She is actively involved with running the organization and making sure that they organization is fully staffed. Therefore, Sussex Healthcare is actively searching for new talent to join their organization.

Generally Accepted Principles (GAAP) must be adhered to when a company distributes its financial statements outside of the company. If a corporation 's stock is publicly traded, the financial statements must also adhere to rules established by the U.S. Securities and Exchange Commission (SEC). This includes having its financial statements audited by an independent CPA firm. GAAP are a common set of standards and procedures for reporting financial information. Any domestic company whose equity and debt securities are traded on U.S. public markets are required to file regular ongoing financial reports with the Securities and Exchange Commission (SEC) or state regulatory agency that follow GAAP called a 10-K, 10-Q or 8-K. The form 10-K is

Chapter 1 explains the most common principles in accounting or finance in which all financial reports occur. Through the process of GAAP and the financial reporting criteria it will help the students have a better understanding of all the statements and will provide with a correct process to conduct an analysis. A substantial review and statements of international accounting is also included in this chapter. Many of the users that are included in the financial statements of a company are the general public, regulatory authorities, labor unions, employees, lending institutions, suppliers, security analysis, stock holders, bondholders, and managers. We can conclude that all of these complete the external and internal stakeholder divisions in a company. They will use the data from the financial reports to conduct decisions. These kinds of reports are so important for a company due to the fact that it will help stakeholders in their decision making. What this chapter is about is the proper way to in utilizing financial reporting information. It is all a really easy from of understanding of the traditional assumption and accounting principles in the accounting criteria. The GAAP refers to the generally accepted accounting principles and what it means is the principles that have the desired authoritative support. The correct and most formal process of conducting the principles that are known today in our country started with Securities Acts of 1933 and 1934. There are 10 elements

Accounting reporting criteria includes many factors and covers many elements. From Fundamental Financial Accounting Concepts, “accounting is so important that it is often called the language of business. In fact, accounting affects not only individual businesses but also society as a whole” (Edmonds, Edmonds, McNair, Olds, & Schneider, 2006, p. 4). Global business requires added consideration in the way of accounting reporting criteria. With heightened consumer protection becoming increasingly important, regulation of American reporting criteria such as The Sarbanes-Oxley Act (SOX) is common to hear or the Security Exchange Commission’s (SEC) requirement of management submitting a financial statement in

Globalization is a fact of life in today’s worldwide economy. They are many barriers to achieving a true global market; one of these barriers has to do with accounting standards or the presentation of accounting information. Various users have diverse needs for financial information. Companies in different parts of the world had their own methods in preparing their financial statements. Trying to compare the accounting rules of these different companies would have been difficult. As a result, accounting bodies were created in order to standardize the accounting principles in order to avoid any difficulties in the future and make these methods comparable and uniform. As a

A Case Study Analysis on the Applications of Accounting Standards and the Conceptual Framework by a Reporting Entity

In the world of business, there are many aspects that go into making a company run smoothly. One of the main departments of every company is the accounting department. Accounting is all about keeping up with the financial records. The accountant can’t just keep up with the records whatever they choose; there are standards that have to be followed. The standards such as how to document, how to measure and recognize transactions for their financial statements, help potential investors see how their company is performing. In the United States those standards are called Generally Accepted Accounting