ACCOUNTING F/GOV.+NON...(LL)
18th Edition
ISBN: 9781266785580
Author: RECK
Publisher: MCG
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Chapter 16, Problem 6Q
To determine
Provide some of the presentation difference between the operating statement of the not-for profit and business-type governmental health care entities.
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The following questions concern the appropriate accounting for a private not-for-profit health care entity. Write complete answers for each question.
What is a third-party payor, and how have third-party payors affected the development of accounting principles for health care entities?
What is a contractual adjustment, and how does a health care entity record this figure?
How does a not-for-profit health care entity account for donated materials and services?
How does a not-for-profit health care entity account for donated materials and services?
2. ACCOUNTING FOR HEALTH CARE PROVIDERS/HOSPITALS
• What Unique Issues do Health Care Providers Face?
• What are the Key Differences Between Private Not-For-Profit and
Government Health Care Providers?
• What Are the Basic Financial Statements?
• What are the Key Revenues and Expenses?
• How are the key revenues and expenses recognized?
Which of the following entities would consider portions of the AICPA Audit and Accounting Guide: Health Care Entities category b authoritative guidance?
A business-type government hospital.
A not-for-profit hospital.
A for-profit hospital.
All of the above.
Chapter 16 Solutions
ACCOUNTING F/GOV.+NON...(LL)
Ch. 16 - Prob. 1QCh. 16 - Prob. 2QCh. 16 - Prob. 3QCh. 16 - Prob. 4QCh. 16 - What is an example of a performance indicator and...Ch. 16 - Prob. 6QCh. 16 - Prob. 7QCh. 16 - What are assets limited as to use and how do they...Ch. 16 - Prob. 9QCh. 16 - Prob. 10Q
Ch. 16 - Prob. 11QCh. 16 - Prob. 12CCh. 16 - Prob. 17.1EPCh. 16 - Prob. 17.2EPCh. 16 - Which of the following is a true statement...Ch. 16 - Prob. 17.4EPCh. 16 - Prob. 17.5EPCh. 16 - Prob. 17.6EPCh. 16 - Prob. 17.7EPCh. 16 - Wellness Psychiatric Clinic received a large...Ch. 16 - Prob. 17.9EPCh. 16 - Prob. 17.10EPCh. 16 - Prob. 18EPCh. 16 - Prob. 19EPCh. 16 - The Kyle Sports Medicine facility is a...Ch. 16 - Prob. 21EPCh. 16 - Prob. 22EPCh. 16 - Prob. 23EPCh. 16 - Prob. 24EPCh. 16 - Prob. 25EP
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- What are the differences between the strategic initiatives and operating activities of a health care organization?arrow_forwardWhy is the statement of functional expenses required for voluntary health and welfare organizations?arrow_forwardwhich of the following is operational income : other revenues, investment income , patient service revenue charitable contribution, premium revenuesarrow_forward
- Why is a statement of functional expenses required of a voluntary health and welfare entity?arrow_forwardCommunity benefits serve as justification for a non-profit healthcare organization's tax-exempt status. True or Falsearrow_forwardHow does charity care affect the patient service revenue reported by hospitals, and what measure of charity care are hospitals required to disclose in the notes to their financial statements?arrow_forward
- Discuss how characteristics of not-for-profit organizations differ from for-profit organizations.arrow_forwardDefine Not-for-Profit organizations. Explain what distinguishes governmental not-for-profit organizations from nongovernmental, not-for-profit organizations. Why is such a distinction necessary? Mention the objectives of financial reporting of not-for-profit organizations?arrow_forwardA voluntary health and welfare entity produces a statement of functional expenses. What is the purpose of this statement? Separates current unrestricted and current restricted funds. Separates program service expenses from supporting service expenses. Separates cash expenses from noncash expenses. Separates fixed expenses from variable expenses.arrow_forward
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