Lessons Learned: What CHC Early Adopters Wish They Knew
Some CHCs were required to adopt a new revenue recognition accounting standard and clarified guidance on accounting for grants and contributions for fiscal years already audited. All CHCs issuing GAAP-basis financial statements should have already implemented these new standards; however, most finance departments were not prepared when their effective date rolled around. In this webinar, we’ll share commonly asked questions about these new standards and lessons learned from the perspective of the CHCs and BKD. The goal will be to develop a practical understanding and implementation approach for CHCs.
Upon completion of this program, participants will be able to:
- Discuss successes and failures experienced by CHC revenue recognition early adopters
- Illustrate resources developed for CHCs to implement and comply on an ongoing basis with the revenue recognition standard
- Recognize answers to common questions from CHCs on implementation of ASU 2018-08
- Design an implementation plan for CHCs preparing to adopt revenue recognition and ASU 2018-08
Brush up on FASB with these related resources:
- FASB Revenue Recognition Basics for CHCs
- FASB Revenue Recognition for CHCs: A Focus on Patient Service Revenue
- FASB Revenue Recognition for CHCs: A Focus on Financial Reporting
- FASB Revenue Recognition for CHCs: A Focus on Other Affected Revenue Streams
- Impact on CHCs: Accounting for Grants & Contributions
BKD, LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.