Healthcare
AAFCPAs’ Update on Decisions Reached in FASB NFP Financial Statements Project
The Financial Accounting Standards Board (FASB) is evaluating 263 comment letters, including feedback from AAFCPAs, as part of their invitation to stakeholders for review and input on the proposed Accounting Standards Update (ASU) entitled Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. As part of its […]
FASB Issues Standards for Recognition and Measurement of Financial Assets and Liabilities
AAFCPAs wants to alert you to this change from the Financial Accounting Standards Board (FASB). In their effort to provide users of financial statements with more useful information on the recognition, measurement, presentation, and disclosure of financial instruments, on January 5, 2016 the FASB issued a new Accounting Standards Update (ASU) No. 2016-01, Financial Instruments, […]
2016 Standard Mileage Rates
The IRS has issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 54 cents per mile for […]
Congress to Vote on Tax Extender Bill Friday
On Tuesday night, Congress reached an agreement on a year-end spending and tax deal that includes the much anticipated tax “extender” provisions. The tax bill is expected to extend around 50 credits for businesses and individuals, while also delaying until 2017 a tax on medical device manufacturers. This news provides some insight of what to […]
New IRS Employer Reporting Requirements Under ACA
AAFCPAs reminds clients that, pursuant to the Affordable Care Act (ACA), the employer information reporting provision for offers of minimum essential coverage, which applies only to applicable large employers, is now in effect. Do you qualify as an ALE? An applicable large employer (ALE) is, for a particular calendar year, any single employer, or group […]
CFOs Embrace the Cloud for Scalability, Reliability, and Independence
CFOs are more commonly migrating services to the Cloud in order to unlock benefits that can help them free up resources and achieve a new level of scalability. They and their management teams are capturing greater reliability, cost-effectiveness, and security through the right Cloud services. The Cloud used to fall mainly under the jurisdiction of […]
AAFCPAs to Present Cost Report Training for MassLeague Members on 10/2
AAFCPAs Partner Matt Hutt, CPA, CGMA, and AAFCPAs Manager Courtney McFarland, CPA, in collaboration with the Massachusetts League of Community Health Centers, will present a Medicare and Medicaid Cost Report Training on October 2, 2015 from 9:00 am to 4:00 pm at the DoubleTree, Westborough, MA. Matt and Courtney will provide guidance and best practices […]
Are you ready for ICD-10?
What is ICD?The International Classification of Diseases (ICD) is the standard diagnostic tool for epidemiology, health management and clinical purposes. ICD is used by physicians, nurses, other providers, researchers, health information managers and coders, health information technology workers, policy-makers, insurers and patient organizations to classify diseases and other health problems. ICD, published by the World […]
3.75% Payment Contract for Human & Social Services Providers Affected by Chapter 257
For human & social services providers who do not yet have a regulation establishing a rate of payment for certain social services programs, AAFCPAs reminds you that you will begin receiving quarterly payments on or around August 15, 2015 provided that you have timely executed a 3.75% Payment Contract with the Executive Office of Health […]