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YMCA. United Way. American Heart Association. Voluntary Health & Welfare Organizations (VHWO’s). Examples:. Most organizations are Non-Gov’t, but may receive some government support. Accounting Authority. GASB. FASB. Government Supported. Non-Government Supported (Most).

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voluntary health welfare organizations vhwo s

YMCA

United Way

American Heart Association

Voluntary Health & Welfare Organizations (VHWO’s)
  • Examples:
  • Most organizations are Non-Gov’t, but may receive some government support.
accounting authority
Accounting Authority

GASB

FASB

Government Supported

Non-Government Supported (Most)

fas 116 impact
FAS #116 Impact
  • Major – since contributions are major sources of revenue.

FAS #117 Impact

  • Major – since most VHWO’s prepared financial statements on a disaggregated (layered) basis.
sources of accounting authority
Sources of Accounting Authority:
  • AICPA Audit Guide
    • Audits of VHWO’s (1974)
  • Audit & Accounting Guide
    • NPO’s (1996)
  • SFAS #116
  • SFAS #117
  • SFAS #124, 133, and 135
financial statements
Financial Statements
  • Statement of Financial Position (Net Assets as to Restriction Category)
  • Statement of Activities
  • Statement of Cash Flows
  • Statement of Functional Expenses
vhwo accounting notes of importance
VHWO Accounting Notes of Importance…
  • Revenues
    • Full Accrual Basis
    • Gross Amounts
    • Conditional & Unconditional
    • Categories of Restrictions
    • PV for Multiyear Contributions
vhwo accounting notes of importance7
VHWO Accounting Notes of Importance…
  • Expenses
    • Full Accrual Basis
    • Reported Only in Unrestricted Net Asset Class
    • Involves Reclassification of Use of Temporarily Restricted Assets
    • Reported by Function & Natural Classification
healthcare accounting
Healthcare Accounting
  • Types of Organizations
    • Nongovernmental NFP
    • Governmental
    • Commercial (For-Profit)
  • Financial Accounting Standards
    • Category A: FASB & GASB Hierarchy
    • Category B: AICPA Healthcare Guide (1997)
healthcare accounting9
Healthcare Accounting
  • Governmental, Nongovernmental NPO’s, and Commercial Healthcare entities are similar.
    • Business type activities (substantial % of revenue is for services provided)
    • AICPA instrumental in developing standards for all types
    • Therefore FASB & GASB have accepted AICPA Audit Guide as category B GAAP
    • FASB and GASB requirements are supplemented by AICPA Guide
financial statements ng
Financial Statements-NG
  • Statement of Operations
  • Statement of Changes in Net Assets
  • Statement of Financial Position
  • Statement of Cash Flows
governmental hospitals
Governmental Hospitals
  • Required to follow GASB #34 (Category A) and AICPA Health Care Guide (Category B) GAAP
  • Reporting as—
    • Special Purpose Government (Chapter 9)
      • S of R, E, & Changes in NA may be two statements as illustrated in Chapter 12
    • Enterprise Fund (Illustrations 6-1, 6-2, 6-3)