PIRON

This two-day course examines international financial reporting issues in detail and their effect on the health care industry.

Topics include:

• Financial reporting considerations of health care organizations (classification, measurement focus, financial statements, revenue from health care services, third-party pay or considerations, health care contracting)
• Cash and cash equivalents (accounting and financial reporting, agency funds, disclosures)
• Investments (classification, recognition and measurement, transfers of investment assets to a not-for-profit organization or charitable trust, financial statement presentation)
• Receivables (rate setting, estimated final settlements, waiver contingencies under governmental programmes, premiums and stop-loss insurance receivables, future-period promises/pledges, interfund receivables, financial statement presentation)
• Property, plant and equipment (recognition and measurement including capitalisation and depreciation issues, derecognition, impairment, financial statement presentation)
• Supplies and other assets (recognition and measurement, financial statement presentation)
• Current and long-term liabilities (accounting for current liabilities, private inurement, long-term debt, financing authorities, assets whose use is limited, advance refundings, arbitrage rebate liabilities, financial statement presentation)
• Income taxes (tax considerations for not-for-profit organisations, tax-exempt entities, unrelated business income tax, financial statement presentation)
• Commitments and contingencies (medical malpractice claims and accruing malpractice liabilities, accounting for medical malpractice claims insured by captive insurance companies, accounting for claims-made insurance policies and tail coverage, accounting for retrospectively rated premiums, accounting for trust funds, presentation and disclosure)
• Net assets/equity (investor-owned health care organisations, not-for-profit health care organizations)
• Revenue, expenses, gains and losses (conceptual framework for revenue/ expenses/gains/losses, distinguishing charity care from bad debt expense or allowance, revenue, expenses, financial statement presentation)
• The reporting entity and related organizations (financial reporting of nongovernmental health care entities, equity transfers and equity transactions, other transfers, related fund-raising organizations, disclosure)
• Prepaid health care services (accounting for health care costs, accounting for loss contracts, accounting for stop-loss insurance, accounting for contract acquisition costs)
• Recent and upcoming issues (recently issued standards, interpretations and their impact on the health care industry)
• Exposure Drafts that will affect health care entities
• IFRS-US GAAP convergence update
• IASB-FASB projects and plans of interest to health care organizations