Insights

We are proud to be named a West Coast Regional Leader for 2024

AICPA issues TQAs for entities

ARTICLE | September 22, 2020

Authored by RSM US LLP


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.

Let's Talk!

Call us at +1 213.873.1700, email us at solutions@vasquezcpa.com or fill out the form below and we'll contact you to discuss your specific situation.

  • Topic Name:
  • Should be Empty:

This article was written by RSM US LLP and originally appeared on Sep 22, 2020.
2022 RSM US LLP. All rights reserved.
https://rsmus.com/insights/industries/health-care/aicpa-issues-tqas-for-entities.html

RSM US Alliance provides its members with access to resources of RSM US LLP. RSM US Alliance member firms are separate and independent businesses and legal entities that are responsible for their own acts and omissions, and each is separate and independent from RSM US LLP. RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax, and consulting firms. Members of RSM US Alliance have access to RSM International resources through RSM US LLP but are not member firms of RSM International. Visit rsmus.com/about us for more information regarding RSM US LLP and RSM International. The RSM logo is used under license by RSM US LLP. RSM US Alliance products and services are proprietary to RSM US LLP.

​Vasquez & Company LLP is a proud member of the RSM US Alliance, a premier affiliation of independent accounting and consulting firms in the United States. RSM US Alliance provides our firm with access to resources of RSM US LLP, the leading provider of audit, tax and consulting services focused on the middle market. RSM US LLP is a licensed CPA firm and the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 43,000 people in over 120 countries.

Our membership in RSM US Alliance has elevated our capabilities in the marketplace, helping to differentiate our firm from the competition while allowing us to maintain our independence and entrepreneurial culture. We have access to a valuable peer network of like-sized firms as well as a broad range of tools, expertise and technical resources.

For more information on how ​Vasquez & Company LLP can assist you, please call +1 213.873.1700.

Subscribe to receive important updates from our Insights and Resources.

  • Should be Empty: