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1.3 Nonauthoritative guidance for health care entities
Publication date: 31 Mar 2023
us Health care guide
In addition to ASC 954, the AICPA and other professional organizations have issued a significant amount of nonauthoritative interpretive guidance that addresses issues specific to the health care industry.
1.3.1 AICPA Guidance – Audit and accounting guide
The primary, non-authoritative source of industry-specific accounting principles, reporting practices, and auditing considerations for health care organizations is the Audit & Accounting Guide – Health care Entities (AAG-HCO).
1.3.2 Technical Practice Aids
Section 6400 of the AICPA's Technical Practice Aids (TPAs) contains a number of nonauthoritative questions and answers specific to health care organizations. TPAs address the application of existing GAAP to specific issues. A listing of the TIS Section 6400 TPAs is provided in AAG-HCO Appendix B.
1.3.3 Other nonauthoritative guidance
The Principles and Practices Board (P&PB) of the Healthcare Financial Management Association (HFMA) is a panel of twelve individuals who are nationally prominent in the area of health care accounting and financial reporting, and who set forth advisory recommendations on emerging accounting and reporting issues in the form of Statements and Issue Analyses. Although Statements by the P&PB are advisory in nature, they are of significant value to the industry in that they can be issued relatively quickly to disseminate consensus opinions, along with views on the issues and relevant background information, on topics for which guidance is needed. If authoritative GAAP is provided by the FASB or the AICPA that pertains to an issue addressed by a Statement of the P&PB, the statement usually is withdrawn. P&PB Issue Analyses provide short-term assistance on emerging issues.
Copies of P&PB Statements and Issue Analyses can be downloaded from HFMA's website (www.hfma.org).
PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
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