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RECOGNITION OF THE IMPACT OF CHANGING PRICES ON CONVENTIONAL HISTORICAL COST FINANCIAL STATEMENTS OF HOSPITALS
Abstract
This dissertation pertains to the inability of the traditional historical cost financial statements of not-for-profit hospitals to reflect adequately the effects of changing prices. The possibility that this perceived deficiency might be alleviated is investigated by application of the FASB's Statement of Financial Accounting Standards No. 33 (FAS 33) supplementary changing prices information requirements (minimum disclosures required of large profit-seeking enterprises or optional comprehensive financial statements) to the conventional historical cost hospital financial statements. The major research questions pursued are: (1) How would the conventional historical cost financial data of one specific hospital be changed by application of FAS 33 current cost and constant dollar models? and (2) What is the perceived impact of FAS 33 current cost and constant dollar data on the financial decisions of selected users of the financial statements of the hospital studied? The fiscal year 1980 conventional historical cost financial statements of a medium sized general hospital were converted, using indexation procedures, to financial statements reflecting three restated bases: (1) constant dollar, (2) current cost, and (3) current cost/constant dollar under the criteria of FAS 33. Several sets of data ranging from the FAS 33 minimum disclosure requirements under each model to full sets of comprehensive financial statements are presented and analyzed. In addition, the results of an interview with executives of the case study hospital are presented regarding their views of the perceived impact of FAS 33 data on their financial decisions. This dissertation research study demonstrates that the FAS 33 minimum disclosure requirements and the optional comprehensive financial statement procedures can be feasibly applied to the conventional historical cost financial statements of not-for-profit hospitals.
Subject Area
Accounting
Recommended Citation
SAGE, LLOYD GEORGE, "RECOGNITION OF THE IMPACT OF CHANGING PRICES ON CONVENTIONAL HISTORICAL COST FINANCIAL STATEMENTS OF HOSPITALS" (1984). ETD collection for University of Nebraska-Lincoln. AAI8423824.
https://digitalcommons.unl.edu/dissertations/AAI8423824