Gaap and health care, Some generally accepted accounting

Gaap and health care

Reference no: EM1355561

Some generally accepted accounting principles (GAAP) apply only to health care, and there are many health care organizations that use other comprehensive bases of accounting when GAAP does not apply -- for instance, an HMO that must report to a government regulatory agency using that agency's guidelines instead of GAAP. What is so unique about health care that it would cause accounting principles to change? This is so confusing to me. Can anyone help me understand this?

Reference no: EM1355561

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