Throughout the history of humanity, the issue of finances has never lost its topicality. The thing is that money plays a great role in the functioning of society. Being a universal reedy which influences all spheres of human activity, money, though, should be given great attention. With this in mind, such issue as financial accounting and management exists. This issue allows to regulate the efficient functioning of money and perform control over it. Especially important this issue becomes for healthcare organizations as some mistakes in planning can lead to the death of patients. With this in mind, it is possible to analyze its main peculiarities to understand the mechanism of its functioning better. First of all, it should be said that there are four main elements of financial management. They are planning, controlling, organizing, and decision making. A financial manager should plan all actions whose main aim is to fulfill the needs of an organization. That is why a good plan is vital. Having created the plan, a manager should watch this plan to be followed by all departments of an organization. Moreover, he/she has to organize the distribution of funds in the most efficient way choosing between existing alternatives. Resting on these facts, all these elements are very important and should be followed for the benefit of any organization. However, it is obvious, that there are several standards according to which the whole financial system works and funds are distributed. First of all, it should be said that these standards are determined by different organizations at the domestic level. The first important standard is competence which means that a person, who is responsible for the distribution of funds, should have enough knowledge to do it efficiently. The second standard is objectivity. Accountants are, to be honest, and objective and avoid the appearance of a conflict of interests. The last important standard is confidentiality. Financial managers have access to some private information which is very important for people and organizations. That is why all data connected with operations of this kind should remain private. Observation of these main principles can lead to the efficient functioning of the whole system. It is possible to demonstrate the existence and functioning of these standards with the help of the information presented in the following articles. The article Ethical issues in healthcare financing show some ethical issues within the framework of financing. The thing is that the right to health is a basic human right and that is why every person should be provided with good and qualified medical service (Maharaj & Paul, 2011). However, very often a person cannot afford it because of the lack of money. That is why some special mechanisms of government-sponsored insurance exist. Their main aim is to help poor people. Besides, the article Financial reporting practices: a comprehensive evaluation introduces another important issue. Financial reporting is a vital part of the functioning of every organization. With this in mind, the article underlines the necessity of documenting controls over financial reporting (Godwin & Mueller, 2005) by health ca