ch17 - Chapter 17 Accounting for Health Care Organizations...

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Unformatted text preview: Chapter 17 - Accounting for Health Care Organizations 17-1 CHAPTER 17: ACCOUNTING FOR HEALTH CARE ORGANIZATIONS OUTLINE Number Topic Type/Task Status (re: 14/e) Questions: 17-1 Standards-setting authority Explain New 17-2 Financial statements List Same 17-3 Deductions from revenue Explain 17-4 17-4 Capital assets Compare 17-3 17-5 Investments Compare Same 17-6 Restricted gifts Describe Same 17-7 Assets limited as to use Explain Same 17-8 Contingent liabilities Describe Same 17-9 Diagnosis-related groups Explain Same 17-10 Taxation and regulatory issues List and explain New Cases: 17-1 Charity care Evaluate Same 17-2 Organizational form Evaluate New 17-3 Medicare and Medicaid Internet Same 17-4 Evaluating the quality of health care Internet New Exercises/Problems: 17-1 Various Multiple Choice New 17-2 Revenue classifications Classifying New 17-3 Not-for-profit financial statements Financial statements 17-5 17-4 Restricted contributions Journal Entries 17-3 17-5 Revenue and related transactions Journal entries, partial financial statement New 17-6 Governmental hospital—Enterprise Fund Journal Entries Revised 17-7 Not-for-profit hospital—financial statement analysis Analysis 17-8, revised 17-8 Not-for-profit hospital—journal entries and financial statements Journal entries, financial statements 17-2, revised Chapter 17 - Accounting for Health Care Organizations 17-2 CHAPTER 17: ACCOUNTING FOR HEALTH CARE ORGANIZATIONS Answers to Questions 17-1. Disagree. It is true that the AICPA audit and accounting guide Health Care Organizations provides useful guidance for all health care organizations; however, AICPA SAS No. 69 , as amended by SAS No. 91 , designates the audit and accounting guide as category (b) GAAP authority. Those pronouncements designate the FASB as the category (a) authoritative source for establishing accounting and financial reporting standards for for-profit and not-for-profit health care organizations and the GASB as the category (a) source for governmental health care organizations. 17-2. SFAS No. 117 requires health care providers to issue a statement of financial position, statement of operations, and a statement of cash flows, as well as notes to the financial statements. Additionally, information concerning changes in equity is to be included in the statement of activities or in a separate statement of changes in equity. Considerable discretion is allowed in presenting financial information. Governmental health care organizations that engage in business-type activities provide a statement of net assets (balance sheet); a statement of revenues, expenses, and changes in net assets; a statement of cash flows; and notes to the financial statements. Governmental health care organizations must also present a management’s discussion and analysis....
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This note was uploaded on 11/29/2009 for the course ACCT 341 taught by Professor Burdan during the Fall '08 term at American.

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ch17 - Chapter 17 Accounting for Health Care Organizations...

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