Changes for the Future of Nursing Essay - 1100 Words

Changes for the Future of Nursing (Essay Sample) Content: CHANGES FOR THE FUTURE OF NURSINGNameInstitution AffiliationCourseDate of Submission The field of health care is continuously growing and changing due to advancement in technology. It is therefore imperative for healthcare professional to adapt to such changes. The nursing profession is considered to be the largest segment of healthcare workforce with more than 3 million staff. Therefore there is a need to create an avenue that will allow nurses to play a critical role to improve the healthcare systems. This essay will explore the impact of IOM report on nursing education, nursing practice and the role of nurses as leaders in future nursing care.The Impact on Nursing EducationNurses are currently following different education paths to become registered nurses. However, all the paths followed equip nurses with the competency of entry level of registered nurse so as to begin practice. Robert Wood Johnson advocates that nurses need to achieve higher level of education an d training by way of an improved education system which seamlessly promotes progression in academics (Institute of Medicine 2010). This is due to the fact that the population of patients in community as well as health facilities is becoming more and more complex in nature, and therefore, the need for critical thinking skills. These advanced skills can be obtained from higher education that provides solid foundation of nursing profession and leadership skills in order to practice in a variety of settings. BSN program in nursing is the one which has been designated as the entry level for professional nursing, but Robert Wood Johnson claims that the goal is to achieve about 80 percent of nursing workforce that is BSN prepared (Institute of Medicine 2010). The institute of medicine provided recommendation that will enhance expansion of nurses education in order for them to provide care to their full potential. This would shape their relationship with other healthcare professional in cha nging policies that would improve data infrastructure. The Impact on Nursing PracticePatients deserve health care that focuses on them despite the changes in healthcare. It is significant therefore to focus on acute care problems as well as chronic conditions, disease prevention and wellness education. Therefore, it is the role of nurses to implement such changes given that they are at the bedside making these changes to ensue in patients care. This then enable nurses to practice to their full potential of their education and training which is a major step forward to counter challenges that face them (Institute of Medicine 2010). Given that there is a shortage of physicians trained inn primary care to meet the needs of the ever changing society, there is a need to train nurses in primary care to mitigate current challenges. This calls for the advancement of registered nurse practice and nurse practitioners. There are instances where nurses support the primary care physicians in the management of chronic diseases, medication and wellness education. Additionally, nurses assist families with transition care and setting o community services (Institute of Medicine 2010). To this end, the nursing practice should aim to increasing knowledge so as to provide better care to patients and their families through utilizing their skills optimally wile remaining their scope of practice.Transforming leadershipNurses, according to Robert Wood Johnson need to be full partners with physicians and other health care professionals in redesigning healthcare systems (Institute of Medicine 2010). This is because nurses play a critical role since they are advocates of their patients and their families as well as the health care of community. These roles include increasing of primary care whilst decreasing specialty and acute care necessity. Good education in primary care environment decreases recurrence of acute and specialty care that is needed thereby reducing health care demands and national spending on preventable care. Given that there are leaders at different levels in nursing, there is a need fro nurses to be involved with physicians in transforming the healthcare system for effective care. There are programs developed for nurses involving mentor and training that equip them with decision making techniques thereby improving the health care system.The institute for medicine identified on how nurses can be utilized to cope with changes in health care systems. This is due to the increased strain of the current systems emanating from prolonged lifespan and more people obtaining health coverage. The number of primary care physicians does not increase at the rate which is able to cope with increased needs of general population, and thus the need to provide nurses with fundamental roles to physicians and patients they serve (Institute of Medicine 2010). The role of nursing profession has transformed so as to conform to the demands of healthcare systems. The under utilization of nurses and the increased demand for educated healthcare providers, calls for the nursing workforce to advance education and training as this will help to alleviate the increased strain of healthcare systems. Since nurses have been strong patients advocates and have sworn to help others, they have to be educated given that their scope of work and responsibilities are tremendously expanding (Owen Catriona, 2012). This is because an increase in BSN nurses will offer nurses who provide competent care both in and out of healthcare setting thereby providing better outcomes for patients, which is the ultimate goal for all healthcare professionals.There are responsibilities that nurses are well suited in order to meet the community needs. This is through utilizing education tools giv...

Evaluation of Financial Accounting Standards - 1925 Words

Evaluation of Financial Accounting Standards (Coursework Sample) Content: Accounting AssignmentName:Institution:Date:Evaluation of financial accounting standardsPractical application of the various accounting methodsAccounting methods are the basic rules and guidelines under which various firms prepare their financial records and keep the records for future use. In the accounting technique, the most common accounting methods applied include the cash basis and the accrual basis. Different businesses have the task of determining which accounting method to be used in the business management. The sales volume of the firm will also determine the payment methods that the company can use to compete effectively in the entire market. Some businesses are not in a position to manage the inventory and the accounting method used significantly affected by the particular concept.The ability of a business to extend credit to customers differs depending on the financial position of the firm, and it is affected by the economic method as well. Different inter nal revenue service provides different tax requirements that directly influence the accounting methods applied to any business. When doing record keeping in any business, the information can be used my managers in assessing the companyà ¢Ã¢â€š ¬s financial position. At the same time, the information can be used by the law and for tax purposes in ensuring that tax obligations are met. It is of importance for any small or large businesses to know the method they are applying based on what will be most suitable for their particular business.Cash basisUnder the method of accounting, income and expenses are recognized according to real-time cash flow. At the time the receipts are obtained, income is being recorded prudently on the relevant books of account, rather than based upon when it earned. Expenses on the other side are recorded as they are paid, rather when incurred. The concept offers much flexibility and a possibility to alter with taxable income. It can occur by delaying billi ng so that payment is not received in the current year. Expenses can be accelerated by paying them as immediately the bills are received, in advance of the due date.Accrual basisBoth income and expenses can only be recognized when they are earned or incurred respectively. It does not give a consideration of when cash associated with the particular transactions changes hand. The payment time does not count much in recording the revenue. In fact, revenues are recorded when it is earned rather than when payment is received. On the same note, expenses are recorded when they are incurred rather than when payment is made. At one point in time, the companyà ¢Ã¢â€š ¬s accounts will look very different depending on which accounting method is currently being used. As time moves, the difference are eliminated since all the expenses and revenue will be recorded in the relevant books of account. The cash basis offers many advantages compared to the accruals policy. The simplicity of the cash ba sis makes it easier to work with in analyzing the accounting concepts. When examining the picture of the cash flow, cash basis is identified to provide a more accurate picture of the flow. In some cases, the income of the company might be subjected to taxation before the actual money is realized. In the cash flow basis, the concept can be precisely regulated by employing tax to the actual amount of money received. The only challenge experienced is that capital and revenue are not matched in time.Accounting policies are used by the company to prepare the financial statements. The strategy applied includes any method, measurement system and procedures for presenting disclosures. The principles are the rules that need to be used while the policies are considered to be the companyà ¢Ã¢â€š ¬s way of adhering to the rules.National Accounting Standard for Non-Governmental OrganizationsThe particular accounting standard applies to non-governmental organizations. Examples that are included in the non-governmental organizations include public unions. The organizations, however, operate according to relevant legislations. The scope and definition of financial statements prepared by non-governmental organizations are prudently covered in the analysis. The standard also applies in the case of contractions that arise from active normative-legal acts on accounting and the national accounting standard. Improving the financial statements of non-governmental organizations prepared in line with National Accounting Standard is the aim of the standard. The standard has specific sections which includes definitions of the specific terms used in the accounting concepts. The sections are in a position to borrow the same concepts when used in other parts. The standard can define methods for submission of general purpose financial statements to facilitate comparison of financial statements for the reporting period and those prepared by the same non-governmental organizations for previ ous years. It also factors for financial statements of other non-governmental organizations. Various considerations are applied in achieving the particular goal of the organization (Watts Zimmerman, 1978). The financial statements should be submitted to facilitate generation of data required for the analysis and interpretation. The structure of the statements offers a justification and should be included in the design process. In most instances, a requirement is always considered to be mandatory. A consideration should be made to the minimum requirement for the content of financial statements prepared in line with the particular standard.Concepts and Pervasive PrinciplesUnder the section, there is no specific accounting or reporting requirements is not stipulated. It just set out the fundamental principles to be used in generating of financial statements in compliance with National Accounting Standard for Non-Governmental Organizations. The Users of the financial report prepared in the case involves the management of the non-governmental organization. Members, lenders and creditors, employees, the business contact group and the government have a critical involvement in the records kept in the case.Assumptions Underlying National Accounting Standards for NGOsThe Accruals BasisIn the context of the financial transactions, income and expenses have to be recognized as a result of the transaction taking place and not due to cash or its equivalent is received or paid.Going concernThe non-governmental organization has the obligation of existing in the future and does not have any option to liquidate in the near future. The going concern is done on the basis of historical cost measurement of assets and liabilities. The principle outlined above is a prerequisite for the application of historical cost measurement. Qualitative Characteristics of Financial StatementsThe characteristics tend to make the information provided to be useful and relevant to the end users.Rele vanceThe past, present and future events should be influenced by the information provided in the financial statements.MaterialityThe information at times can be omitted or misstated. In such instance, the information is material if the decision of the users is influenced.ReliabilityError prevention and avoidance are crucial when handling information. Information will become reliable when it is free from material error and bias.Faithful representationThe financial information should clearly indicate the exact position of the non-governmental organization objectively to such extent as it is possible and the representation of factual concepts concerning the institution.Substance over formInformation has to be represented in accordance with the economic reality of their legal capabilities of the transactions that are being conducted.PrudenceCaution should be employed in estimations of the values of various assets and liabilities. The importance of that is to avoid the consequence of und erstatement and overstatements. The method of the presentation of the valuation should be the best strategy ever.Financial statement presentationFinancial statements should be presented according to ensure comparability both with the non-governmental organizationà ¢Ã¢â€š ¬s financial statements of previous periods. It should also conform to the financial statements of other non-governmental organizations. The financial statement must provide information about a non-governmental organization in terms of assets, liabilities, net assets, revenues, expenses, and the overall cash flow. Supplementary information, including financial statements that do not have a monetary value attached. It may be reported alongside the financial statements in order to provide a more comprehensive picture regarding the kind of the business for the period (Abd-Elsalam Weetman, 2003).Riskiness of the BusinessA non-governmental organization shall disclose in the notes of information about the key assumption s concerning the nature. In respect to the analyzed assets and liabilities, it is prudent to consider the nature of the account...