Voluntary Health Welfare OrganizationsVHWO’s自愿健康amp福利机构vhwo的.pptVIP

Voluntary Health Welfare Organizations (VHWO’s) Examples: Accounting Authority FAS #116 Impact Major – since contributions are major sources of revenue. Sources of Accounting Authority: AICPA Audit Guide Audits of VHWO’s (1974) Audit Accounting Guide NPO’s (1996) SFAS #116 SFAS #117 SFAS #124, 133, and 135 Financial Statements Statement of Financial Position (Net Assets as to Restriction Category) Statement of Activities Statement of Cash Flows Statement of Functional Expenses VHWO Accounting Notes of Importance… Revenues Full Accrual Basis Gross Amounts Conditional Unconditional Categories of Restrictions PV for Multiyear Contributions VHWO Accounting Notes of Importance… Expenses Full Accrual Basis Reported Only in Unrestricted Net Asset Class Involves Reclassification of Use of Temporarily Restricted Assets Reported by Function Natural Classification Healthcare Accounting Types of Organizations Nongovernmental NFP Governmental Commercial (For-Profit) Financial Accounting Standards Category A: FASB GASB Hierarchy Category B: AICPA Healthcare Guide (1997) Healthcare Accounting Governmental, Nongovernmental NPO’s, and Commercial Healthcare entities are similar. Business type activities (substantial % of revenue is for services provided) AICPA instrumental in developing standards for all types Therefore FASB GASB have accepted AICPA Audit Guide as category B GAAP FASB and GASB requirements are supplemented by AICPA Guide Financial Statements-NG Statement of Operations Statement of Changes in Net Assets Statement of Financial Position Statement of Cash Flows Governmental Hospitals Required to follow GASB #34 (Category A) and AICPA Health Care Guide (Category B) GAAP Reporting as— Special Purpose Government (Chapter 9) S of R, E, Changes in NA may be two statements as illustrated in Chapter 12 Enterprise Fund (Illustrations 6-1, 6-2, 6-3) * * YMCA United Way American Heart Association Most organizations are Non-Gov’t, but may receive some government s