Latest HHS provider relief fund FAQs offer insight into what’s permissible under the Sept. 19 reporting requirements
HFMA's Chad Mulvany says due to HHS's whipsaw approach to the provider relief fund FAQs and guidance, any clarity to be derived from the Phase 3 application instructions and FAQs needs to be considered with a measure of caution.
Accounting for CARES Act Program: Loans, Advance Payments and Other Types of COVID-19 Relief
This HFMA resource provides accounting and financial reporting guidance related to COVID-19 relief under the CARES Program
CARES Act accounting implications will vary by healthcare type
The accounting rules for providers receiving funding through the CARES Act will vary widely by provider type.
Asset impairment issues for hospitals to consider in the wake of COVID-19
For health systems, the decline in financial performance due to COVID-19 creates a triggering event for interim or annual impairment testing of certain assets on the balance sheet.
Analysis: Health systems likely to continue to issue bonds at a feverish pace
Health systems are likely to continue to issue bonds right now for two reasons, including taxable and tax-exempt interest rates that are too good to miss.
Not-for-profit healthcare organizations should understand the benefits and risks of FASB’s new alternative accounting approach
A FASB Financial Accounting Standards Update now allows not-for-profit healthcare entities to adopt an accounting alternative previously available only to non-public business entities, but the not-for-profits may find it more beneficial not to do so.
Acquisition accounting basics to consider
The FASB’'s Accounting Standards Codification Topic 850, Business Combinations, states that such combinations generally involve five basic steps.
An 8-step checklist to help CFOs assess accounting alternatives
Finance leaders of not-for-profit healthcare organizations should follow eight steps when considering whether to adopt the accounting alternatives made available to their organizations by the FASB's Accounting Standards Update 2019-16.
Defining Finance and Operating Leases Under the New Lease Accounting Standard
The FASB’s Accounting Standards Update (ASU) 2016-02 – Leases (Topic 842) describes how to determine whether a lease should be classified as an operating or a finance lease.
Bottom-Line Implications of New Lease Accounting Standards: What Healthcare Leaders Should Know
Healthcare organizations should be prepared for a lease accounting standard, effective in 2019, that changes the way they are required to report leases on their balance sheets.