Healthcare Industry, Part 2 - Understanding Health Care Financial Statements


This course is designed as an update to provide important information related to the preparation of financial statements for entities in the health care industry. A basic knowledge of financial statement elements and disclosures is expected as this course is designed to cover the account balances and disclosures that are unique to health care. The course focuses on accounting principles set forth by the Financial Accounting Standards Board (FASB). Governmental statements are not covered. In addition, the course uses not-for-profit hospital systems as an example because they are the most prevalent in the industry. However, the course also discusses the differences between disclosures for not-for-profit and for-profit hospital systems. The course briefly touches on other important disclosure requirements related to health care entities other than hospitals. In August 2016, the FASB issued a pronouncement that affects the presentation of not-for-profit financial statements. The examples presented throughout the course incorporate those changes.