Exam 12: Accounting for Hospitals and Other Health Care Providers

The Audit and Accounting Guide identifies items that should not be included in the determination of operating income for a health care organization. Which of the following is not one of those items?

(Multiple Choice)

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Question 101

The AICPA Health Care Guide prescribes a separate Statement of Operations and Statement of Changes in Net Assets rather than a Statement of Activities.

(True/False)

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Question 102

With respect to governmental health care entities, both GASB and AICPA require presentation of a performance indicator.

(True/False)

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Question 103

Health care entities may be private not-for-profit, governmental, or for-profit. All, however, are subject to the AICPA Health Care Guide, which is accepted by both FASB and GASB as being Category B GAAP.

(True/False)

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Question 104

As both the FASB and the GASB approved the AICPA Health Care Guide, its requirements constitute Category B GAAP and must be followed by all health care organizations.

(True/False)

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Question 105

Health care organizations that are privately owned and operated to provide a return to investors follow FASB standards excluding those standards specifically for not-for-profits.

(True/False)

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Question 106

Private health care organizations, both not-for-profit and for-profit, follow GASB standards while government healthcare organizations follow FASB.

(True/False)

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Question 107

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 108

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 109

While governmental health care organizations follow GASB standards, they typically report as special-purpose entities engaged only in business-type activities.

(True/False)

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Question 110

According to The AICPA Health Care Guide, transfers among affiliated organizations should not be included in the determination of a performance indicator for a health care organization.

(True/False)

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Question 111

For accounting purposes, health care organizations include HMOs and individual medical practitioners, as well as hospitals.

(True/False)

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Question 112

Health care entities may be private, not-for-profit, governmental, or for-profit. All are subject to the AICPA Health Care Guide and FASB statements 116 and 117.

(True/False)

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Question 113

Which of the following is not a required statement of a private not-for-profit hospital?

(Multiple Choice)

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Question 114

The cash flow statements of health care organizations, both private and government-owned, may use the direct or indirect method.

(True/False)

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Question 115

Health care organizations that are privately owned and operated to provide a return to investors report the same net asset classifications as private not-for-profit health care organizations.

(True/False)

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Question 116

Which of the following is NOT TRUE with respect to governmental health care entities?

(Multiple Choice)

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Question 117

The AICPA Audit and Accounting Guide: Health Care Organizations applies to:

(Multiple Choice)

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Question 118

Showing 101 - 118 of 118

The Audit and Accounting Guide identifies items that should not be included in the determination of operating income for a health care organization. Which of the following is not one of those items?

The AICPA Health Care Guide prescribes a separate Statement of Operations and Statement of Changes in Net Assets rather than a Statement of Activities.

With respect to governmental health care entities, both GASB and AICPA require presentation of a performance indicator.

Health care entities may be private not-for-profit, governmental, or for-profit. All, however, are subject to the AICPA Health Care Guide, which is accepted by both FASB and GASB as being Category B GAAP.

As both the FASB and the GASB approved the AICPA Health Care Guide, its requirements constitute Category B GAAP and must be followed by all health care organizations.

Health care organizations that are privately owned and operated to provide a return to investors follow FASB standards excluding those standards specifically for not-for-profits.

Private health care organizations, both not-for-profit and for-profit, follow GASB standards while government healthcare organizations follow FASB.

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?

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.

While governmental health care organizations follow GASB standards, they typically report as special-purpose entities engaged only in business-type activities.

According to The AICPA Health Care Guide, transfers among affiliated organizations should not be included in the determination of a performance indicator for a health care organization.

For accounting purposes, health care organizations include HMOs and individual medical practitioners, as well as hospitals.

Health care entities may be private, not-for-profit, governmental, or for-profit. All are subject to the AICPA Health Care Guide and FASB statements 116 and 117.

Which of the following is not a required statement of a private not-for-profit hospital?

The cash flow statements of health care organizations, both private and government-owned, may use the direct or indirect method.

Health care organizations that are privately owned and operated to provide a return to investors report the same net asset classifications as private not-for-profit health care organizations.

Which of the following is NOT TRUE with respect to governmental health care entities?

The AICPA Audit and Accounting Guide: Health Care Organizations applies to:

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, Interfund Transactions

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

Advanced Topics for State and Local Governments

Accounting for Private Not-For-Profit Organizations

College and University Accounting

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 Audit and Accounting Guide identifies items that should not be included in the determination of operating income for a health care organization. Which of the following is not one of those items?

The AICPA Health Care Guide prescribes a separate Statement of Operations and Statement of Changes in Net Assets rather than a Statement of Activities.

With respect to governmental health care entities, both GASB and AICPA require presentation of a performance indicator.

Health care entities may be private not-for-profit, governmental, or for-profit. All, however, are subject to the AICPA Health Care Guide, which is accepted by both FASB and GASB as being Category B GAAP.

As both the FASB and the GASB approved the AICPA Health Care Guide, its requirements constitute Category B GAAP and must be followed by all health care organizations.

Health care organizations that are privately owned and operated to provide a return to investors follow FASB standards excluding those standards specifically for not-for-profits.

Private health care organizations, both not-for-profit and for-profit, follow GASB standards while government healthcare organizations follow FASB.

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?

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.

While governmental health care organizations follow GASB standards, they typically report as special-purpose entities engaged only in business-type activities.

According to The AICPA Health Care Guide, transfers among affiliated organizations should not be included in the determination of a performance indicator for a health care organization.

For accounting purposes, health care organizations include HMOs and individual medical practitioners, as well as hospitals.

Health care entities may be private, not-for-profit, governmental, or for-profit. All are subject to the AICPA Health Care Guide and FASB statements 116 and 117.

Which of the following is not a required statement of a private not-for-profit hospital?

The cash flow statements of health care organizations, both private and government-owned, may use the direct or indirect method.

Health care organizations that are privately owned and operated to provide a return to investors report the same net asset classifications as private not-for-profit health care organizations.

Which of the following is NOT TRUE with respect to governmental health care entities?

The AICPA Audit and Accounting Guide: Health Care Organizations applies to:

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, Interfund Transactions

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

Advanced Topics for State and Local Governments

Accounting for Private Not-For-Profit Organizations

College and University Accounting

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.