- Go to Journal of Accountancy Website to read the article titled “Presentation of Patient Service Revenue Changed for Health Care Entities,” dated August 1, 2011, located at http://www.journalofaccountancy.com/Web/20114405. Be prepared to discuss.
- Go to the FASB Website to read the article titled “Presentation and Disclosure of Patient Service Revenue, Provision for Bad Debts, and the Allowance for Doubtful Accounts for Certain Health Care Entities a consensus of the FASB Emerging Issues Task Force,” dated July, 2011, located at http://www.fasb.org/cs/BlobServer?blobcol=urldata&blobtable=MungoBlobs&blobkey=id&blobwhere=1175822797036&blobheader=application/pdf. Be prepared to discuss.
From the two e-Activities, differentiate between the accounting provisions for revenue recognition for patient revenue and bad debts for financial statements prior to December 31, 2011 and the provisions effective for financial statements filed after December 31, 2011.
Evaluate the potential impact of these changes on the transparency of health care financial statements and whether or not the same information is truly represented. Explain your rationale.
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