Soft Bound Version for Advanced Accounting 13th Edition
13th Edition
ISBN: 9781260110579
Author: Hoyle
Publisher: McGraw Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter 18, Problem 37P
a.
To determine
Define third party payor and its importance in the development in the accounting principles of private not-for-profit health care entity.
b.
To determine
Define contractual adjustment and its treatment in the books of the not-for-profit entity.
c.
To determine
Define the process of recording the donated services and material for a not-for-profit entity
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
A nonprofit hospitals revenues and expenses are reported on its statement of activities
TRUE or FALSE?
Please describe factors that influence the financial viability of a healthcare organization and discuss the major aspects of Medicare benefits? and how do legal and regulatory issues shape and define the good financial management of an HCO?
The following questions concern the accounting principles and procedures applicable to a private not-for-profit entity. Write answers to each question.
What is the difference between revenue and public support?
What is the significance of the statement of functional expenses?
What accounting process does a private charity use in connection with donated materials?
What is the difference in the two types of restricted net assets found in the financial records of a private not-for-profit organization?
Under what conditions should the entity record donated services?
What is the proper handling of costs associated with direct mail and other solicitations for money that also contain educational materials?
A not-for-profit receives a painting. Under what conditions can this painting be judged as a work of art? If it meets the criteria for a work of art, how is the financial reporting of the entity affected?
Chapter 18 Solutions
Soft Bound Version for Advanced Accounting 13th Edition
Ch. 18 - Prob. 1QCh. 18 - Prob. 2QCh. 18 - Prob. 3QCh. 18 - What are temporarily restricted net assets?Ch. 18 - What are permanently restricted net assets?Ch. 18 - Prob. 6QCh. 18 - Prob. 7QCh. 18 - Prob. 8QCh. 18 - Prob. 9QCh. 18 - Prob. 10Q
Ch. 18 - Prob. 11QCh. 18 - Prob. 12QCh. 18 - Prob. 13QCh. 18 - Prob. 14QCh. 18 - Prob. 15QCh. 18 - When should membership dues be considered revenue...Ch. 18 - Prob. 17QCh. 18 - Prob. 18QCh. 18 - Prob. 19QCh. 18 - Prob. 20QCh. 18 - Prob. 21QCh. 18 - Prob. 1PCh. 18 - Prob. 2PCh. 18 - Prob. 3PCh. 18 - Prob. 4PCh. 18 - A donor gives Charity 1 50,000 in cash that it...Ch. 18 - Prob. 6PCh. 18 - Prob. 7PCh. 18 - Prob. 8PCh. 18 - Prob. 9PCh. 18 - Prob. 10PCh. 18 - Prob. 11PCh. 18 - Prob. 12PCh. 18 - Prob. 13PCh. 18 - Prob. 14PCh. 18 - Prob. 15PCh. 18 - Prob. 16PCh. 18 - Prob. 17PCh. 18 - Prob. 18PCh. 18 - Prob. 19PCh. 18 - Prob. 20PCh. 18 - Prob. 21PCh. 18 - Prob. 22PCh. 18 - Prob. 23PCh. 18 - Prob. 24PCh. 18 - Prob. 25PCh. 18 - Prob. 26PCh. 18 - Prob. 27PCh. 18 - Prob. 28PCh. 18 - Prob. 29PCh. 18 - Prob. 30PCh. 18 - Prob. 31PCh. 18 - Prob. 32PCh. 18 - Prob. 33PCh. 18 - Prob. 34PCh. 18 - Prob. 35PCh. 18 - Prob. 36PCh. 18 - Prob. 37PCh. 18 - Prob. 38PCh. 18 - Prob. 39PCh. 18 - A private not-for-profit entity is working to...Ch. 18 - Prob. 41PCh. 18 - The University of Danville is a private...Ch. 18 - Prob. 43PCh. 18 - Prob. 44PCh. 18 - Prob. 45PCh. 18 - Prob. 46PCh. 18 - Prob. 47PCh. 18 - Prob. 48PCh. 18 - Prob. 49PCh. 18 - At the beginning of Year 1, the entity above...Ch. 18 - Prob. 51PCh. 18 - Prob. 52PCh. 18 - Prob. 53PCh. 18 - Prob. 54PCh. 18 - Prob. 1DYSCh. 18 - Prob. 2DYSCh. 18 - Prob. 3DYSCh. 18 - Prob. 4DYSCh. 18 - Prob. 5DYSCh. 18 - Prob. 6DYS
Knowledge Booster
Similar questions
- The following questions concern the accounting principles and procedures applicable to a private not-for-profit entity. Write answers to each question.a. What is the difference between revenue and public support?b. What is the significance of the statement of functional expenses?c. What accounting process does a private charity use in connection with donated materials?                  d. What is the difference in the two types of restricted net assets found in the financial records of a private not-for-profit organization?e. Under what conditions should the entity record donated services?f. What is the proper handling of costs associated with direct mail and other solicitations for money that also contain educational materials?g. A not-for-profit receives a painting. Under what conditions can this painting be judged as a work of art? If it meets the criteria for a work of art, how is the financial reporting of the entity affected?arrow_forwardCommunity benefits serve as justification for a non-profit healthcare organization's tax-exempt status.  True or Falsearrow_forwardWhich 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.arrow_forward
- How does a voluntary health and welfare organization account for donated goods and cash contributed for operating purposes ? What types of revenues are recognized by voluntary health and welfare organizations ?arrow_forwardWhich statement below best describes the entities that can accept donations from the public and provide donors with documentation to allow them to claim a tax deduction in respect of their donation? Â a. A local state school. Â b. A private hospital. Â c. Only entities classified as a deductible gift recipient (DGR) as they meet the necessary requirements to be registered by the ATO. Â d. Any not for profit organisation.arrow_forwardwhich of the following is operational income : other revenues, investment income , patient service revenue charitable contribution, premium revenuesarrow_forward
- Which of the following statements is true regarding postretirement health care benefit obligations and their accounting? a. The estimates involved in accounting for such benefits are generally less complex than those associated with accounting for pensions. b. Such benefits are usually provided as part of a defined contribution postretirement benefits plan. c. Employers usually offer multiple varying tiers of coverage based on beneficiaries’ length of service with the company. d. The gross cost of providing such coverage is commonly offset by government-provided health insurance.arrow_forwardA Voluntary Health & Welfare NFP would include which of the following financial statements in its basic financial statements?    Statement of financial position and statement of activities    Statement of financial position, statement of activities, and statement of cash flows   Statement of financial position, statement of activities, statement of cash flows, and statement of functional expenses   Statement of financial position, statement of activities, and statement of functional expenses Choose onearrow_forwardIf there was a gift that would be transferred without restriction to another charity entity, how would a recipient for a not-for-profit entity record the receipt of that gift? Can the donor retain the right to revoke or redirect the gift?arrow_forward
- How would a recipient for a not-for-profit entity record the receipt of a gift that will be transferred without restriction to another charitable entity? What if the donor retains the right to revoke or redirect the gift?arrow_forwardWhy is the statement of functional expenses required for voluntary health and welfare organizations?arrow_forwardThe practice of for-profit hospitals transferring charity patients to not-for-profit hospitals is known as? A. Dumping B. Cost plus accounting C. Diagnosis related groups D. Cost shiftingarrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,
Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSON
Intermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill Education
Financial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education