Author Description

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. Includes four newly released AICPA Technical Practice Aids: TIS sections 6400.52, 6400.51, 6400.50, and 6400.49.