Examlex
For the past few months Matthew has complained about inadequate staffing on all shifts to the administrator of the nursing home where he works as a nurse. He documented poor patient care, which included patients not being fed appropriately and several patients who developed serious bedsores after being left for hours on wet linens without being turned. When the administrator repeatedly refused to make any changes, citing economic reasons, Matthew spoke to a reporter at the local paper about the situation. How would this action of Matthew's be viewed?
GAAP
Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting.
Principles-based
An approach focused on general guidelines, allowing for the exercise of professional judgment and flexibility in applying standards.
Bank Reconciliation
The process of matching and balancing figures in accounting records with those displayed on a bank statement.
Outstanding Checks
Checks that have been written and recorded in the account ledger but have not yet been cashed or cleared by the bank.
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