Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
18 Cards in this Set
- Front
- Back
|
sources of revenue for Healthcare Non-profits |
Patient Service Revenues: main source Premium Fees (Medicare, HMO) Other Revenues |
|
|
define what is included in the Other Revenues category of Healthcare Nonprofits |
includes anything from ONGOING activities of the hospital OTHER THAN patient care i.e. cafeteria |
|
|
calculate Net Patient Revenues |
Net Patient Service Revenue Other Revenue Net Assets used for Operations (Charity Care Revenue) (Contractual Adjustments) (Uncollectibles/Bad Debt) - from public only |
|
|
define Charity Care |
services to people that you never expect will pay -never reported as revenue, receivable, or bad debt; more or less ignored |
|
|
method of accounting used for PRIVATE Health Care NPOs |
MUST use direct method -governmental/public can use indirect |
|
|
what are the 4 categories of cash flow activities for NPOs? |
1. Operating 2. Non-capital financing (Public ONLY) 3. Capital Financing 4. Investing |
|
|
Journal Entry - record Contractual Adjustments (i.e. Medicare) |
Contractual Adjustments XX Accounts Receivable XX |
|
|
recording of Bad Debt for public healthcare NPOs |
revenues are net of adjustment for uncollectible amounts -NO BAD DEBT EXPENSE recognized |
|
|
how are expenses reported for a healthcare NPO? |
reported by function i.e. nursing services, fiscal services, admin services |
|
|
"Net Position" in NPO accounting is the same as ........ |
"Net Income" or "Net Assets" |
|
|
Unrestricted donations are included in the ____________section |
Non-Operating Revenues section i.e. donated medicines |
|
|
calculate Total Tuition Revenue |
Tuition Revenues at Gross (Scholarship Allowances) (Scholarship Expences) (Tuition Waivers) |
|
|
where are Grant Revenues (aka state appropriations) reported? |
Government: non-operating revenues Private: operating revenues |
|
|
Auxiliary Expenses for universities examples |
-residence halls -bookstore -parking -food services |
|
|
FS differences between Public/Govt and Private universities |
both: Statement of Cash Flows Public/Govt only: -Statement of Net Position -Statement of Rev/Exp/Changes in Net Position Private only: -Balance Sheet -Statement of Activities |
|
|
differences in Equity section terminology: Public/Govt vs. Private |
term "Net Assets" used for Private term "Net Position" used for Public/Govt Private uses Temp Restricted Net Assets Public/Govt uses Capital Assets |
|
|
3 types of funds used by colleges |
1. current 2. plant 3. trust/agency (i.e. loan, endowments, annuity income funds) |
|
|
is fund-level reporting required for colleges? |
NOT REQUIRED |
