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D T Meeting

Publications and source records attributed to D T Meeting.

12 recordsLinked to original sources
PubMed2001

The FASB explores accounting for future cash flows.

The FASB's Statement of Financial Accounting Concepts No. 7, Using Cash Flow Information and Present Value in Accounting Measurements (Statement No. 7), presents the board's views regarding how cash-flow information and present values should be used in accounting for future cash flows when information on fair values is not available. Statement No. 7 presents new concepts regarding how an asset's present value should be calculated and when the interest method of allocation should be used. The FASB proposes a present-value method that takes into account the degree of uncertainty associated with future cash flows among different assets and liabilities. The FASB also suggests that rather than use estimated cash flows (in which a single set of cash flows and a single interest rate is used to reflect the risk associated with an asset or liability), accountants should use expected cash flows (in which all expectations about possible cash flows are used) in calculating present values.

Accounts Payable and Receivable↗
PubMed2000

FASB Statement No. 136 clarifies transfers of assets.

FASB Statement of Financial Accounting Standards No. 136, Transfers of Assets to a Not-for-Profit Organization or Charitable Trust That Raises or Holds Contributions for Others, provides guidance and establishes accounting standards for the transfer of assets from donors to not-for-profit organizations that may then transfer those same assets to a beneficiary organization. Recipient organizations that accept financial assets from a donor and agree to use those assets on behalf of a specified unaffiliated beneficiary or transfer those assets, the return on investment of those assets, or both to that beneficiary must recognize the assets received from the donor and recognize the assets' fair value as a liability to the beneficiary. The statement describes circumstances in which a transfer of assets to a recipient organization is accounted for as an asset and corresponding liability of the recipient organization, and as an asset and donation revenue by the beneficiary organization because the transfer is irrevocable.

Accounting↗
PubMed1999

SOP 98-5 brings uniformity to reporting start-up costs.

The American Institute of Certified Public Accountants (AICPA) issued Statement of Position (SOP) No. 98-5, Reporting on the Costs of Start-Up Activities, in April 1998 to provide organizations with guidance on how to report start-up and organization costs. Because some companies were expensing start-up costs while other companies were capitalizing start-up costs with a variety of periods over which to amortize costs, it was difficult to compare companies' financial statements. SOP No. 98-5 will bring uniformity to the treatment of start-up and organization costs by dictating that these costs be expensed as incurred. AICPA's Accounting Standards Executive Committee adopted an intentionally broad definition of start-up costs to capture the vast majority of costs associated with starting up an organization. SOP No. 98-5 takes effect for financial statements for fiscal years beginning after December 15, 1998, but can be applied earlier for fiscal years for which financial statements have not been issued.

Accounting↗
PubMed1999

New AICPA standards aid accounting for the costs of internal-use software.

Statement of Position (SOP) No. 98-1, "Accounting for the Costs of Computer Software Developed or Obtained for Internal Use," issued by the American Institute of Certified Public Accountants in March 1998, provides financial managers with guidelines regarding which costs involved in developing or obtaining internal-use software should be expensed and which should be capitalized. The SOP identifies three stages in the development of internal-use software: the preliminary project stage, the application development stage, and the postimplementation-operation stage. The SOP provides that all costs incurred during the preliminary project stage should be expensed as incurred. During the application development stage, costs associated with developing or obtaining the software should be capitalized, while costs associated with preparing data for use within the new system should be expensed. Costs incurred during the postimplementation-operation stage, typically associated with training and application maintenance, should be expensed.

Accounting↗
PubMed1998

Strategic cost accounting helps create a competitive edge.

The way healthcare cost allocation is conducted has changed radically over the past three decades. Although government regulations have required the step-down allocation method be used for determining Medicare payments, this method is limited in its ability to generate relevant cost data needed for management decision making and effective managed care contract rate negotiation. Deriving such data depends on using appropriate cost drivers and allocation methods. Of the four method, that may be used to allocate the costs of health are organization service departments to revenue departments--the direct method, the step-down method, the double-apportionment method, and the reciprocal method--the reciprocal method is the most sophisticated and may provide the most accurate representation of costs.

Accounting↗
PubMed1996

Implementing SFAS No 121: Accounting for Impaired Assets.

In March 1995, FASB issued Statement of Financial Accounting Standards (SFAS) No. 121: "Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of." It establishes accounting standards for assets whose carrying costs have been overstated due to a variety of circumstances that have reduced the value of the assets. Healthcare financial managers should fully understand the statement's implications for their organizations.

Accounting↗
PubMed1996

SFAS No. 124, accounting for investments: the rules have changed.

Under SFAS No. 124 "Accounting for Certain Investments Held by Not-for-Profit Organizations," issued in November 1995, not-for-profit healthcare organizations must report investments in equity securities that have readily determinable market values and all debt securities at fair value. SFAS No. 124 significantly modifies the way healthcare organizations' account for such investments and brings greater accountability to healthcare financial managers regarding the management of their organizations' investments.

Accounting↗
PubMed1995

SFAS No. 116 changes accounting procedures for contributions.

SFAS No. 116 will significantly change the accounting procedure for contributions received by healthcare organizations. It requires that contributions be recognized as revenue, at fair value, in the period received. In addition, a major change in SFAS No. 116 is that an unconditional pledge must be recognized in the year it is received, even if the actual contribution will be received in installments over future accounting periods.

Accounting↗
PubMed1995

SFAS No. 117 brings uniformity to financial statement formats.

Statement of Financial Accounting Standards (SFAS) No. 117 was issued to establish consistency in financial reporting among not-for-profit organizations, which are subject to various American Institute of Certified Public Accountants (AICPA) audit guides. In addition, SFAS No. 117 was designed to close the gap between the statements of not-for-profit and for-profit organizations. The provisions of SFAS No. 117 are intended to override AICPA audit guides and statements of position when the two conflict.

Accounting↗
PubMed1995

Capitalizing strategic planning costs to recognize future value.

As healthcare organizations devote more resources to strategic planning, financial managers should consider capitalizing, rather than expensing, planning costs. Traditionally, healthcare organizations have absorbed these costs in the year a plan is developed. However, a strategic plan may be viewed as an intangible asset that provides the organization with future benefits. Therefore, its costs can be amortized over the plan's life.

Accounting↗
PubMed1988

Using DRGs and standard costs to control nursing labor costs.

Nursing care is a very significant part of a healthcare organization's costs. However, until recently, methods of controlling nursing costs were largely ineffective. With the implementation of the prospective payment system and the use of diagnosis related groups, budgeting and controlling nursing costs are now possible with the use of standard costing. In this article, methods and procedures are discussed and explained for controlling inpatient nursing costs with the use of DRGs and standard costs.

Accounting↗