Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781259917059
Author: RECK, Jacqueline L., Lowensohn, Suzanne L., NEELY, Daniel G.
Publisher: Mcgraw-hill Education,
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Question
Chapter 16, Problem 2Q
To determine
List out the types of financial statements required for (a) a not-for- profit health care entity and (b) a governmental health care entity reporting only business -type activities.
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Students have asked these similar questions
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?
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.
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?
Chapter 16 Solutions
Accounting For Governmental & Nonprofit Entities
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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Similar questions
- What is a third-party payor, and how does the presence of such payors affect the financial accounting of a health care entity?arrow_forwardPlease 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?arrow_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
- Describe the unique aspects of accounting for health care entities.arrow_forwardWhich of the following is not a regulatory responsibility of the Pension Benefit Guaranty Corporation? Select one: a. They oversee the termination of covered plans. b. They administer an insurance program for defined-benefit plans. c. They interpret legislation. d. They administer an insurance program for defined-contribution plans.arrow_forwardwhich of the following is operational income : other revenues, investment income , patient service revenue charitable contribution, premium revenuesarrow_forward
- In a statement of cash flows of a not-for-profit healthcare entity, what are the statement’s main sections?arrow_forward45. Which one of the following is not a required fi- nancial statement for a private voluntary health and welfare organization? a. Statement of Financial Position b. Statement of Activities and Changes in Net Assets c. Statement of Fund Balance d. Statement of Cash Flows e. Statement of Functional Expensearrow_forwardWhy is a statement of functional expenses required of a voluntary health and welfare entity?arrow_forward
- What are the Key differences between Private Not-For-Profit and Government Health Care Providers?arrow_forwardWhat stakeholders are most interested in the financial condition of a health care business? Why is this important? What have generally accepted accounting principles (GAAP)? What is the purpose of GAAP? Explain the difference between cash accounting and accrual accounting? Why is this important?arrow_forwardHow to prepare financial statements for a government agency and non-profit organization?arrow_forward
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