Chat8 Ch 17 Hosp

Chat8 Ch 17 Hosp - Le arning Obje s ctive Afte studying C r...

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Learning Objectives After studying Chapter 17, you should be able to: h Identify different organizational forms and the related authoritative accounting literature for health care organizations h Describe financial reporting for health care organizations h Explain unique accounting and measurement issues in health care organizations, including accounting for revenues, assets, expenses, and liabilities
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Health Care Organizations, Such As Hospitals, Can be Structured As For-Profit Business Not-for-Profit Business Oriented Governmental Public
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Health Care Organizations (HCOs)— Types of Services v Clinics and individual or group practices v Continuing care retirement communities (CCRCs) v Health maintenance organizations (HMOs) v Home health agencies v Hospitals v Nursing homes v Rehabilitation centers v Parent companies that oversee health care services
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GAAP for a HCO Depends Upon Its Organizational Structure For-Profit Business Not-for-Profit Business Oriented Governmental Public FASB Guidance GASB Guidance AICPA Audit and Accounting Guide Health Care Organizations
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GAAP for HCOs v Governmental health care organizations follow GASB standards and are considered special purpose governments that may be: l component units of another government, or l stand-alone governmental entities v These governmental entities may be engaged in either governmental or business-type activities or both
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GAAP for HCOs Not-for-profit (NPO) health care organizations report using SFAS No. 117 All health care organizations also follow the AICPA Audit and Accounting Guides, as category (b) authority after appropriate FASB and GASB statements which are category (a) authority
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Optional Fund Accounting—For NPOs and Business-type Governmental HCOs v HCOs may choose to use fund accounting for internal purposes v The following funds are used for internal purposes: l General Unrestricted Funds l Donor-Restricted Funds: l Specific Purpose Fund l Plant Replacement and Expansion Fund l Endowment
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Chat8 Ch 17 Hosp - Le arning Obje s ctive Afte studying C r...

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