11.Government hospitals are typically considered special purpose entities engaged in business-type activities under GASB Statement 34.
12.Both governmental owned and private health care providers use the modified accrual basis of accounting and the economic resources measurement focus.
13.Government owned hospitals follow FASB Statements 116 and 117.
14.Both public and private sector health care organizations measure transactions and events similarly, but use different equity accounts.
15.Both commercial and not-for-profit hospitals in the private sector follow FASB standards.
16.The AICPA
Health Care Guide
applies to investor-owned, private not-for-profit, and government-owned hospitals.
17.Both commercial and private sector not-for-profit hospitals and health care providers follow FASB Statements 116 and 117.
18.The AICPA
Health Care Guide
provides accounting and reporting requirements that override GASB and FASB standards, but apply only to health care providers.
19.For accounting purposes, health care organizations include HMOs and individual medical practitioners, as well as hospitals.
20.The AICPA
Health Care Guide
provides additional guidance regarding accounting and reporting requirements for voluntary health and welfare organizations.