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What are the unique accounting and measurement issues

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Reference no: EM131031382

Problem 1:

A public college or university can be characterized as governmental, business-like, or a combination of the two. What are the descriptions of each type, and how does a college choose among them?

Please provide an example of each type of college by going to their website and reviewing their financial statements.

Problem 2:

Class, why do colleges and universities report some scholarships as revenue deductions and others as expenses? What are some of the guidelines?

Does this distort the financial reporting process?

Problem 3:
Class, what are the unique accounting and measurement issues present for healthcare entities? How can a CFO address these issues?

Problem 4:

Good point Ethan. Class, this is illustration 17-2 (not 17-1). The differences in GAAP guidance is due to the different types of healthcare entities: investor-owned (like a corporate business and is for-profit), not-for-profit, and governmental.

Class, what are some of the unique ratios mentioned in chapter 17 that healthcare entities are evaluated on? Why might these ratios be used (think about the issues healthcare entities deal with)?

ILLUSTRATION 17-2: GAAP for Health Care Entities in Different Sectors
Accounting and Reporting Issue Investor Owned Not-for-Profit Governmental
Reporting entity APB Opinion No. 18 AICPA SOP 94-3 GASB Codification. Sec. 2100 (see Footnote 9 for citiation)

SFAS AO 94 

Contribution and financial statement display SFAS No 116 SFAS Nos 116 and 117 GASB Codification Secs NS0 and 2200
Cash flows SFAS No 95  SFAS no 95  GASS Codification Sec. 2450 
Deposits with  SEAS No 105 SFAS no., 105 GASS Codification Sec C20
financial insututrons


Investments SFAS No 115 and AAG-HCO. Chapter 4 SFAS No 124 GASB Codification Sec. ISO
Operating leases SFAS No 13 SFAS No 13 GASS Codification Sec. C20 
Prepaid health care arrargements and self insurance program AAG.HCO. Chapten 8 and 14 AAG-HCO, Chapters 8 and 14 GASB Codification Secs C50 and Po20
Compensated absense  SPAS Nos 43 and 112 SFAS NOS. 43 and 112  GASS Codification Sec. C60 
Debt refundings APB Opinion No. 26, SFAS Nos. 4 and 125 APB Opnion No 26. SFAS Nos .4 and 125 GASS Codification Sec. D20
Pensions SFAS Nos. 87, 132 (revcsed) and 158 SFAS Nos 87. 132 (tensed), and 158  GASS Codification Sec. P20
Risks and uncertainties  AICPA SOP 94-6  AICPA SOP 91-6 GASS Codification Sec. C SO 
Post-retirement benefits SFAS Nos 106 and 132 (revised) SFAS NO 106 and 132 (revised) GASS Codification Sec. P50
Fair value measurements SFAS No. 157 SFAS No 157 None

Reference no: EM131031382

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