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Health Care Entities - Audit and Accounting Guide

Publisher: AICPA
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This guide provides "how-to" guidance on planning, performing and reporting on Health Care entity audit engagements, as well as information for members in practice in the Health Care industry.

Considered the industry standard resource, this 2013 update contains practical guidance for accounting and auditing of health care entities, including auditor involvement with municipal securities filings, refundable advance fees, intangibles, insurance recoveries, and accrual of legal costs.

This Guide will help you:

  • Understand accounting guidance applicable to continuing care retirement communities, including advance fees, initial contract acquisition costs, and obligations to provide future services.
  • Understand financial statement considerations for not-for-profit health care entities.
  • Be aware of accounting guidance that affects the recognition of service revenue and related receivables by health care entities.
  • Understand GASB’s accounting and financial reporting requirements for governmental health care entities.
  • Understand the financial accounting and reporting for managed care services, including capitation arrangements and accounting for health care costs, loss contracts, stop-loss insurance, and acquisition costs.

This resource is packed with information on new requirements including GASB Statement No. 61, The Financial Reporting Entity: Omnibus—an amendment of GASB Statements No. 14 and No. 34. Additional updates significant to this edition include FASB ASU No. 2013-06, FASB ASU No. 2013-04, FASB ASU No. 2013-03, and many more.

This edition includes four newly released AICPA Technical Practice Aids impacting the health care industry, including:

TIS section 6400.52, "Insurance Recoveries From Certain Retrospectively Rated Insurance Policies"
TIS section 6400.51, "Presentation of Insurance Recoveries When Insurer Pays Claims Directly"
TIS section 6400.50, "Accrual of Legal Costs Associated With Contingencies Other Than Malpractice"
TIS section 6400.49, "Presentation of Claims Liability and Insurance Recoveries - Contingencies Similar to Malpractice"

Online Subscription > AICPA Online Professional Library. The online subscription option below includes the corresponding Health Care Industry Developments - Audit Risk Alert, content updates and unlimited online access for 1 year. AICPA Online Professional Library – your source for the latest guidance, information, and standards on a variety of accounting & auditing, industry-specific, and practice management topics. Click here for more information.

Health Care Entities - Guide and Alert Bundle
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