Accounting


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AcSEC exposes a draft statement of position, Accounting for Derivative Instruments and Hedging Activities by Not-for-Profit Health Care Organizations, and Clarification of the Performance Indicator, that would amend the audit and accounting guide on health care organizations ( www.aicpa.org/members/div/acctstd/edo/index.htm ). The ED provides guidance on how nongovernmental not-for-profit health care organizations should report gains or losses on hedging and nonhedging derivative instruments under FASB Statement no. 133. The draft also clarifies issues relating to the performance indicator, or earnings measure, such organizations report. Comments are due August 13.

SPONSORED REPORT

The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.