Healthcare

Susan B. Windle Named Partner of Sansiveri

Sansiveri is pleased to announce that Susan B. Windle, CPA, MST, has been named a partner of the firm. Susan has over 30 years of public accounting experience, providing advisory, tax planning, and tax compliance services for corporate, partnership and individual tax clients. Susan counsels clients in ways to structure...

Help for Health Care Entities’ Financial Reporting Requirements

ASU 2016-17

For Health Care Entities structured as a not-for-profit organization, the AICPA has recently released guidance for implementing FASB Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities. The ASU 2016-14 significantly changes the way all not-for-profit organizations classify net assets and prepare financial statements and is...

Healthcare Organizations Need to Prepare for Revenue Recognition Changes

By Linda Marie Pearson, CPA, CFE The implementation of FASB’s Accounting Standards Update (ASU) No. 2014-09, Revenue From Contracts with Customers (Topic 606) will affect how healthcare organizations recognize revenues. The purpose of the change is to eliminate industry specific revenue recognition rules and establish a universal rule for...

Tax-Advantaged Health Accounts

Which tax-advantaged health account should be part of your benefits package? On October 12, an executive order was signed that, among other things, seeks to expand Health Reimbursement Arrangements (HRAs). HRAs are just one type of tax-advantaged account you can provide your employees to help fund their health care expenses....

Delayed Implementation Date for Some

The Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842) which allows for a later adoption of the revenue and lease ASU's. This option is made only to businesses...

It’s Official: Governor Signs Paid Sick Leave

Paid Sick Leave

On September 28, 2017 Governor Gina Raimondo signed into law the paid sick leave bill passed by the General Assembly in a special session earlier this month. If you are a business in Rhode Island with 18 or more employees, beginning July 2018, workers will able to take up...

AICPA Addresses Three Revenue Recognition Implementation Issues

-by Andrew de Labry, CPA In May 2014 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), which outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers. The ASU supersedes and replaces nearly...

AHCA’s Potential Impact

By Cody Lange, Senior Assistant Tax Specialist Recently, The House of Representatives passed the American Health Care Act ("AHCA"), which is designed to repeal and replace the Affordable Care Act ("ACA"). The Bill now sits with the Senate for its consideration. If passed in its current form, the AHCA would...