AICPA issues TQAs for entities
SENIOR LIVING HEALTH CARE CONNECTION |
The AICPA has issued additional technical questions and answers (TQAs) under Section 6400, Health Care Entities. Here are some items that specifically relate to senior living providers:
Accounting for Lease Components in Type A Life Care Contracts by Continuing Care Retirement Communities (CCRCs): At inception of the contract, CCRCs should analyze their specific resident agreements to determine whether the contract contains a lease (or leases). This TQA link includes examples of items to consider.
CARES Act Provisions Specific to Health Care Entities, Accounting for Provider Relief Fund Payments: Topics discussed include recognition of uncertainties associated with provider relief fund general distribution payments, period of accounting for provider relief fund general distribution payments and accounting for payments received under the Medicare accelerated and advance payment program. See this TQA link for guidance.
Contact Chris Hanover at email@example.com or your RSM advisor for more information.