Government programs have definitely been a needed resource for CAHs during the pandemic and include HHS Provider Relief Funds, CMS Accelerated and Advance Payment Program and the SBA Paycheck Protection Program. Each of these programs has unique attributes that require separate application of accounting treatment and related disclosure considerations. Some components of each program have accounting options that must be assessed and selected. We will cover the accounting guidance that exists within FASB and GASB, as well as recent releases from the AICPA, HFMA, etc. and discuss what you need to be aware of to appropriately account for COVID funds.
• Review existing generally accepted accounting principles and interpretations released to date.
• Determine situations in which there may be multiple accounting options and review how these may impact your organization.
• Develop a plan to track, record and disclose various COVID programs.
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