Free for HFMA Members
Buy HFMA Membership to Attend


Business Partners
Hospitals and Other Providers

Career level:

Experienced Professional

Recommended for:


Delivery Method:

Self Study

Advance Preparation:




Course Availability:

18 Months

Course | Intermediate | Accounting and Financial Reporting

A&F: Financial Reporting: Liabilities and Long-Term Debt

Course | Intermediate | Accounting and Financial Reporting

A&F: Financial Reporting: Liabilities and Long-Term Debt


This course describes how healthcare organizations should account for current liabilities and rules relating to tax exemption for healthcare organizations. It describes how long-term debt can be handled by healthcare organizations, including the practice of advance refunding. It also details the different types of revenue a healthcare organization must report and how to report the results of operations in a separate financial statement. Finally, the course explains how different kinds of reimbursement methods affect the financial risk and financial statements resulting from a contract.
After this program, you'll be able to..
  • List typical long-term obligations
  • Recognize how to account for current liabilities
  • Identify tax considerations for not-for-profit healthcare organizations
  • Identify how healthcare organizations handle unrelated business income tax
  • Recognize arbitrage restrictions imposed by the Tax Reform Act of 1986
  • Recognize different ways that healthcare organizations can handle long-term debt
  • Identify the accounting associated with restructuring of existing debt and the criteria required for de-recognition of existing debt
  • State the advantages of advance refunding
  • Identify the commitments and contingencies to which a healthcare organization may be subjected
  • Identify how a healthcare organization accrues malpractice claims on its financial statements
  • Identify when a claims-made insurance policy represents a transfer of risk
  • Recognize how to account for retrospectively rated premiums and claims insured by captive insurance companies
  • Recognize accounting practices for trust funds
  • Identify three types of revenue a healthcare organization derives based on type of service rendered or contracted to be rendered

Related Courses | Accounting and Financial Reporting

Course | Overview | Finance and Business Strategy

HFMA Business of Health Care® (for CME)

Whether you are a clinician, physician, finance or health plan leader, nurse, therapist, dentist, or pharmacist, HFMA Business of Health Care® was designed to give you an essential understanding of the complex ecosystem your day-to-day operations are part of. That understanding can help you use your knowledge and skills more effectively to improve patient care and health outcomes.

As important, it can enable you to contribute to the critical conversations and decision-making that are changing the industry and how you work in it.

Participants who successfully complete the six-course sequence and the final evaluation of knowledge may qualify to earn continuing education credits. All participants who meet the program's requirement receive a course completion certificate - recognition they can use to advance in their career and demonstrate their commitment to excellence.

Title: HFMA Business of Health Care®
Original Release Date: 3/1/2016
Renewal Date: 4/1/2019
Expiration Date: 3/31/2020
You have access to this course for one year from purchase date
HFMA Business of Health Care online study materials PIM cost: $399
Estimated time to complete activity: 14 hours

Hardware and software needed to participate in the activity:
Operating Systems:
Windows versions XP and above, and MAC OS X 10.5 Leopard and above

Internet Explorer: We have officially supported IE 7 and up (although please note that Microsoft has itself warned against versions older than IE 8.0)
Mozilla Firefox: most recent two public versions
Chrome and Safari: more recent two public versions

eLearning Course Requirements:
Adobe Shockwave Player -
Adobe Flash Player -
Java -

For CME/CE questions, contact Postgraduate Institute for Medicine at
The online course is hosted by Healthcare Financial Management Association and the exam is hosted by Postgraduate Institute for Medicine.

Course | Intermediate | Accounting and Financial Reporting

A&F: Financial Reporting: Revenue and Assets

This course explains the different categories of healthcare enterprises and the process to record revenues from varying sources. It discusses reporting requirements for restricted and unrestricted net assets, and explains how cash and cash equivalents are reported, including handling of agency funds and credit risks. This course describes the accounting and reporting of investments in investment securities that have readily determinable fair values and all investments in debt securities. It explains how healthcare organizations should account for and report property and equipment, supplies, and other assets.

Course | Intermediate | Accounting and Financial Reporting

A&F: Financial Accounting Concepts

This course defines strategic and operational planning, lists different types of budgets, and lists the steps of the budgeting procedure. In addition, this module presents an example of cash receipts, and introduces favorable and unfavorable cost center performance.

Course | Intermediate | Accounting and Financial Reporting

A&F: Financial Reporting: Relationships and Procedures

This course explains the impact on financial reporting of various relationships between a reporting healthcare organization and other entities in which it has control and/or economic interest. It also explains how equity transfers between related not-for-profit entities are handled. The course describes the basic elements of financial statements for healthcare organizations. It also explains how accounts receivable are recorded for payments from third-party payers, and for uncompensated care vs. bad debt. The course explains the two different methods of rate setting and describes how pledges from donors are accounted for and reported.