31.Health care organizations that are privately owned and operated to provide a return to investors follow GASB standards. 32.Health care organizations that are privately owned and operated to...

31.Health care organizations that are privately owned and operated to provide a return to investors follow GASB standards.

32.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.

33.Voluntary health and welfare organizations raise a significant amount or nearly all of their resources from contributions and grants, and are subject to the rules of the
AICPA
Not-for-Profit Guide.

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

35.According to The AICPA
Health Care Guide, transfers among affiliated organizations should be included in the determination of a performance indicator for a health care organization.

36.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.

37.For hospitals, contractual adjustments to 3^rd
party payers, such as insurance companies, are recorded with a debit to Contractual Adjustments (a contra-revenue account) and a credit to an allowance for contractual adjustments.

38.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.

39.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.

40.The cash flow statements of private health care organizations, both not-for-profit and for-profit, may use only the indirect method.

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

42.The equity section of governmentally-owned hospitals includes net investment in capital assets, restricted, and unrestricted.