Explore BrainMass

GASB rules that govern a SPE health care organization


Moving on to health care organizations - and relating to your assignment - FASB has special rules for reporting on private health care organizations. And of course, if the health care organization is associated with government (as an SPE), then GASB rules.

1. Summarize the GASB rules that govern an SPE health care organization (like a hospital).

2. Summarize the FASB rules that govern the private not-for-profit health care organization.

Solution Preview

I wanted to fully discuss each issue for better understanding, so I included more than your 100 word request, with additional resources.

1. Summarize the GASB rules that govern an SPE health care organization (like a hospital).

The GASB rules that govern health care organizations, including hospitals, are broken into various sections, much like the same as we find in FASB rules. GASB statement #26 outlines the methods for financial reporting required for health care organizations, including post-employment health care plans. All SPE health care organizations must be in compliance with this statement. Additionally, Statement No. 34 must be followed, which states that the financial statements and the Management Discussion and Analysis section must be in accordance with all guidelines set forth in #34. This applies to "financial reports of all state and local governmental entities, including general purpose governments, public benefit corporations and authorities, public employee retirement systems, utilities, hospitals and other healthcare ...

Solution Summary

This solution summarizes GASB rules that govern an SPE health care organization. FASB rules that govern non-profit health care organizations are also summarized.