Exam 12: Accounting for Hospitals and Other Health Care Providers

The AICPA Audit and Accounting Guide: Health Care Organizations applies equally to private not-for-profit,governmentally owned,and investor-owned health care organizations.

(True/False)

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Question 61

Private sector not-for-profit health care entities must disclose expenses by functional classifications,if not provided in the Statement of Operations.

(True/False)

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Question 62

Health care organizations that are privately owned and operated to provide a return to investors follow which standards:

(Multiple Choice)

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Question 63

Private not-for-profit health care organizations include what categories in the equity section of the Statement of Net Assets?

(Multiple Choice)

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Question 64

Both public and private sector health care organizations measure transactions and events similarly,but use different equity accounts.

(True/False)

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Question 65

St.David's is a not-for-profit business-oriented hospital. What is the journal entry for the following transaction: During the month,gross patient service revenue amounted to $93,000 of which $82,000 was received in cash. Contractual adjustments to third-party payers amounted to $10,000 (actual,not estimated).

(Multiple Choice)

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Question 66

A "performance indicator" is required in the Statement of Operations for health care entities. Which of the following must be reported below that performance indicator?

(Multiple Choice)

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Question 67

Contractual adjustments from insurance companies are reported as expenses in the Statement of Operations.

(True/False)

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Question 68

Government hospitals are typically considered special purpose entities engaged in business-type activities under GASB Statement 34.

(True/False)

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Question 69

St.Mark's is a private not-for-profit hospital. At the end of December 2014,a donor pledged to make five payments of $50,000,beginning on January 1,2015. The contributions are restricted to pay for operations in those years. The present value of these payments is $223,255,discounted at 6%. The contribution was not restricted as to purpose. Record all entries required for 2014 and 2015.

(Essay)

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Question 70

Which of the following is true regarding the financial statements of a private sector not-for-profit hospital?

(Multiple Choice)

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Question 71

For hospitals,contractual adjustments to 3^rd party payers,such as insurance companies,are recorded with a debit to Contractual Adjustment expense and a credit to Accounts Receivable.

(True/False)

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Question 72

The AICPA Health Care Guide does not require a performance indicator in the financial statements of private sector not-for-profit health care providers.

(True/False)

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Question 73

Both commercial and private sector not-for-profit hospitals and health care providers follow FASB Statements 116 and 117.

(True/False)

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Question 74

Which of the following is not true regarding financial reporting of health care entities?

(Multiple Choice)

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Question 75

Which of the following health care organizations have "Category B" GAAP established by the AICPA's Audit and Accounting Guide: Health Care Organizations?

(Multiple Choice)

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Question 76

If a health care organization is owned or controlled by a government,it is typically considered a special-purpose entity engaged only in business-type activities and would use proprietary fund accounting.

(True/False)

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Question 77

Which of the following is not true regarding accounting and financial reporting for private not-for-profit hospitals?

(Multiple Choice)

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Question 78

A private sector,not-for-profit hospital received a pledge of $100,000 in 2014,with no purpose restriction. The pledge card indicated that the funds were to be used in 2015. Cash was turned over to the hospital in 2015.The not-for-profit hospital would recognize contribution revenue in:

(Multiple Choice)

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Question 79

If a clinic raises a significant amount or nearly all their resources from voluntary contributions or grants,they are subject to the guidance in the AICPA:

(Multiple Choice)

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Question 80

Showing 61 - 80 of 100

The AICPA Audit and Accounting Guide: Health Care Organizations applies equally to private not-for-profit,governmentally owned,and investor-owned health care organizations.

Private sector not-for-profit health care entities must disclose expenses by functional classifications,if not provided in the Statement of Operations.

Health care organizations that are privately owned and operated to provide a return to investors follow which standards:

Private not-for-profit health care organizations include what categories in the equity section of the Statement of Net Assets?

Both public and private sector health care organizations measure transactions and events similarly,but use different equity accounts.

A "performance indicator" is required in the Statement of Operations for health care entities. Which of the following must be reported below that performance indicator?

Contractual adjustments from insurance companies are reported as expenses in the Statement of Operations.

Government hospitals are typically considered special purpose entities engaged in business-type activities under GASB Statement 34.

Which of the following is true regarding the financial statements of a private sector not-for-profit hospital?

For hospitals,contractual adjustments to 3^rd party payers,such as insurance companies,are recorded with a debit to Contractual Adjustment expense and a credit to Accounts Receivable.

The AICPA Health Care Guide does not require a performance indicator in the financial statements of private sector not-for-profit health care providers.

Both commercial and private sector not-for-profit hospitals and health care providers follow FASB Statements 116 and 117.

Which of the following is not true regarding financial reporting of health care entities?

Which of the following health care organizations have "Category B" GAAP established by the AICPA's Audit and Accounting Guide: Health Care Organizations?

If a health care organization is owned or controlled by a government,it is typically considered a special-purpose entity engaged only in business-type activities and would use proprietary fund accounting.

Which of the following is not true regarding accounting and financial reporting for private not-for-profit hospitals?

A private sector,not-for-profit hospital received a pledge of $100,000 in 2014,with no purpose restriction. The pledge card indicated that the funds were to be used in 2015. Cash was turned over to the hospital in 2015.The not-for-profit hospital would recognize contribution revenue in:

If a clinic raises a significant amount or nearly all their resources from voluntary contributions or grants,they are subject to the guidance in the AICPA:

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Organizations

Overview of Financial Reporting for State and Local Governments

Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority

Accounting for the General and Special Revenue Funds

Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent

Proprietary Funds

Fiduciary Funds, Inter-fund Transactions

Government-Wide Statements: Capital Assets; Long-Term Debt

Accounting for Special-Purpose Entities Including Public Colleges and Universities

Accounting for Private Not-For-Profit Organizations

College and University Accounting Private Institutions

Auditing, Tax-Exempt Organizations, and Evaluating Performance

Financial Reporting by the Federal Government

Filters

Exam 12: Accounting for Hospitals and Other Health Care Providers

The AICPA Audit and Accounting Guide: Health Care Organizations applies equally to private not-for-profit,governmentally owned,and investor-owned health care organizations.

Private sector not-for-profit health care entities must disclose expenses by functional classifications,if not provided in the Statement of Operations.

Health care organizations that are privately owned and operated to provide a return to investors follow which standards:

Private not-for-profit health care organizations include what categories in the equity section of the Statement of Net Assets?

Both public and private sector health care organizations measure transactions and events similarly,but use different equity accounts.

A "performance indicator" is required in the Statement of Operations for health care entities. Which of the following must be reported below that performance indicator?

Contractual adjustments from insurance companies are reported as expenses in the Statement of Operations.

Government hospitals are typically considered special purpose entities engaged in business-type activities under GASB Statement 34.

Which of the following is true regarding the financial statements of a private sector not-for-profit hospital?

For hospitals,contractual adjustments to 3rd party payers,such as insurance companies,are recorded with a debit to Contractual Adjustment expense and a credit to Accounts Receivable.

The AICPA Health Care Guide does not require a performance indicator in the financial statements of private sector not-for-profit health care providers.

Both commercial and private sector not-for-profit hospitals and health care providers follow FASB Statements 116 and 117.

Which of the following is not true regarding financial reporting of health care entities?

Which of the following health care organizations have "Category B" GAAP established by the AICPA's Audit and Accounting Guide: Health Care Organizations?

If a health care organization is owned or controlled by a government,it is typically considered a special-purpose entity engaged only in business-type activities and would use proprietary fund accounting.

Which of the following is not true regarding accounting and financial reporting for private not-for-profit hospitals?

A private sector,not-for-profit hospital received a pledge of $100,000 in 2014,with no purpose restriction. The pledge card indicated that the funds were to be used in 2015. Cash was turned over to the hospital in 2015.The not-for-profit hospital would recognize contribution revenue in:

If a clinic raises a significant amount or nearly all their resources from voluntary contributions or grants,they are subject to the guidance in the AICPA:

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Organizations

Overview of Financial Reporting for State and Local Governments

Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority

Accounting for the General and Special Revenue Funds

Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent

Proprietary Funds

Fiduciary Funds, Inter-fund Transactions

Government-Wide Statements: Capital Assets; Long-Term Debt

Accounting for Special-Purpose Entities Including Public Colleges and Universities

Accounting for Private Not-For-Profit Organizations

College and University Accounting Private Institutions

Auditing, Tax-Exempt Organizations, and Evaluating Performance

Financial Reporting by the Federal Government

Filters

For hospitals,contractual adjustments to 3^rd party payers,such as insurance companies,are recorded with a debit to Contractual Adjustment expense and a credit to Accounts Receivable.