TPA gives technical guidance for health care entities

BY KEN TYSIAC

The AICPA Health Care Expert Panel has developed technical guidance on the application in consolidated financial statements of a recent accounting standards update for health care entities.

Technical Practice Aid (TPA) 6400.47 provides nonauthoritative guidance on the application of FASB Accounting Standards Update (ASU) No. 2011-07, Health Care Entities (Topic 954): Presentation and Disclosure of Patient Service Revenue, Provision for Bad Debts, and the Allowance for Doubtful Accounts for Certain Health Care Entities.

The guidance applies to consolidated financial statement presentations when the organization also issues financial statements for individual subsidiaries. The TPA is available to AICPA members on the AICPA website.

Ken Tysiac ( ktysiac@aicpa.org ) is a JofA senior editor.

Where to find January’s flipbook issue

Starting this month, all Association magazines — the Journal of Accountancy, The Tax Adviser, and FM magazine (coming in February) — are completely digital. Read more about the change and get tips on how to access the new flipbook digital issues.

SPONSORED REPORT

Get your clients ready for tax season

Upon its enactment in March, the American Rescue Plan Act (ARPA) introduced many new tax changes, some of which retroactively affected 2020 returns. Making the right moves now can help you mitigate any surprises heading into 2022.